🎉 1st of October = Christmas morning for first home buyers 🏡

From today, you can buy with just a 5% deposit (up to $1.5M) thanks to the new federal scheme. The gov’t covers the remaining 15% normally required for mortgage insurance ✅

💰 Why it matters:

• No $20–40K lender’s mortgage insurance 💸
• Entry costs drop from ~$300K to ~$100K on a $1.2M unit
• More buyers entering = more competition

📈 Expect:
✔️ Sub-$1.5M properties to rise
✔️ Knock-on effects into higher brackets
✔️ Units + smaller homes benefiting too

But here’s the catch: buyers weren’t exactly lining up at midnight. The buzz is louder than the bite… for now.