Australia’s federal government announced 100,000 households have been able purchase their own residential properties since the introduction of the Home Guarantee Scheme (HGS) three years ago.
According to the Australian Property Journal, the HGS program is designed to support eligible homebuyers, including first-home buyers, single parents and regional Australians. The HGS consists of the First Home Guarantee (FHBG), the Family Home Guarantee (FHG) and the Regional First Home Buyer Guarantee (RFHBG), with loans available through 32 lenders.
Government data shows that the program has helped one in five essential workers gain homeownership, including more than 6,700 teachers, 5,000 nurses and nearly 3,500 social workers.
“As a government organization, we support Australians across the housing spectrum from those renting in community housing, through to Australians with the goal of homeownership,” said Nathan Dal Bon, CEO at the National Housing Finance and Investment Corp., which administers the program. “We look forward to helping more Australians over the coming years into homes sooner under the Scheme.”
