According to an investment property advisor, Treasurer Josh Frydenberg sought to highlight the health of the Australian economy when he presented the federal budget for 2022-23 in Parliament on Tuesday night, March 29.

A federal budget that provides temporary reprieve from mounting cost of living pressures for millions of Australians includes a $2 billion increase for affordable housing and further help for first-time buyers.

While the main focus of the pre-election budget is on the expense of living, Treasurer Josh Frydenberg stated that the government is assisting more people to enter the market of property in Australia.

With a federal election on the horizon, investment property advisors found:

• Household expenses were unsurprisingly one of the major focus points
• Attracting buyers to buy property in Australia was another focus point

The Morrison government has been promising:

• tax cuts, 
• cash handouts, 
• lower fuel prices, 
• and – most importantly for real estate – a major push to increase property ownership levels.

"Property ownership is vital to the Coalition," Mr Frydenberg said in his budget speech. "Assisting more Australians to own a property is part of our strategy for a brighter future."

The Federal Government has reaffirmed recently announced steps that would enable tens of thousands more Australians to realise their goal of property ownership.

The Home Guarantee Scheme will:

• Grow to give 50,000 properties in Australia each year
• Double the number of places already available.

The programme guarantees a portion of a qualifying property buyer's loan, allowing consumers to join the market with as little as a 2% or 5% deposit.

The 50,000-seat extension will last three years, from 2022 to 2023, before being reduced to 35,000 seats.

For the first three years of the 50,000-place cap, 10,000 seats will be designated for a new Regional Home Guarantee, which would 'assist qualified citizens and permanent residents who have not owned a home in five years to acquire a new home in a regional area with a minimum 5% deposit.'

This will cost $8.6 million over four years from 2022 to 23, $138.7 million over seven years from 2026-27, and $20.5 million each year from 2033 to 34.



The government announced that the number of spaces in the plan to assist single parents will be doubled.

The Indigenous Home Ownership Program (IHOP) of Indigenous Business Australia will also be extended by two years, until 2024–25, at a cost of $7.7 million.

The government stated that this would support 1000 employment in regional Australia during that time period. It will assist around 1600 Indigenous families in obtaining loans to buy property in Australia or build their own homes.

From July 1, the First Home Guarantee, which assists first-time property buyers in purchasing a new or existing home with as little as a 5% deposit, will give 35,000 guarantees every year.

The Family House Guarantee, which was launched in the 2021 budget to assist single parents with children in purchasing their first home or re-entering the market with as little as a 2% deposit, will also be increased to 5000 spots each year until 30 June.

Read on to CoreLogic’s latest data on Women & Property. 

The Regional Home Guarantee will give 10,000 spots each year to first-time buyers and those who have not purchased a home in the previous five years. 

This programme, which runs from 1 October 2022 to 30 June 2025, will assist people in purchasing a property in Australia in a regional area with a minimum 5% deposit.

The New Home Guarantee, a temporary two-year extension of the policy that granted an additional 10,000 spots per year exclusively for first-time buyers developing or purchasing new properties, will expire on June 30, 2022, as scheduled.

People who utilise the First Home Super Saver Scheme (FHSSS) will also experience changes.

According to an investment property advisor, the FHSSS would help buyers to construct a deposit, providing them with a tax break and increasing the amount of money they may save for a deposit.

The maximum amount of voluntary contributions that may be released under the First Home Super Saver Scheme will grow to $50,000 from $30,000 on July 1, 2022, as indicated in last year's budget. Being an investment property advisor, I can assist you in identifying the perfect property in Australia. I ensure that you only invest in the most suitable property based on your specific needs. With my assistance, you will have access to the widest range of properties up for sale. Feel free to contact, call 0425 395 795 or book an Appointment with me.

 You must also check out my blogs on Identifying an emerging suburb in Australia and Is property investment an art or a science? for staying up to date on the latest developments in the Australian property market.