The last time $42,200 covered the 20 per cent deposit for a median home was 2002, which shows the generational scale of this change. The Albanese Labor Government is helping more Australians realise their dream of home ownership sooner, by launching 5 per cent deposits for all first home buyers early on 1 October 2025, instead of next year. The quickest and easiest way to close your account is through NAB Messaging in Internet Banking or the NAB app. Apologies but the Important Information section you are trying to view is not displaying properly at the moment.
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Albanese Government delivers 5% deposits for all first home buyers sooner
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“Getting more Australians into their own home quicker, while saving them money along the way. “Bringing the start date of our 5 per cent deposit scheme forward will do just that. Since coming to office in 2022, Labor has helped over 180,000 first home buyers get a home of their own with a lower deposit. On average, there have been 6,000 more first home buyer loans a year under Labor compared to the Coalition’s previous period in office. The median home price in Australia today is $844,000 and 5 per cent of that is $42,200.
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