In this episode of Property Now, Michael Carbone and Chris Ferris unpack the Albanese government’s expanded First Home Buyer Guarantee Scheme, where you can now buy with 5% deposit and no LMI - even if you earn over $1M a year. They break down:

What’s changed and why it’s a huge deal for buyers.

How the policy could add fuel to the fire of Australia’s housing crisis.

The real pros, cons, and traps first-home buyers need to know.

Why this move could make the government more invested than ever in keeping property prices high.

If you’re thinking about buying your first home or investing in 2025, this is one episode you can’t afford to miss.

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00:00:00 - Introduction

00:00:29 - First Home Buyer Guarantee Scheme

00:00:48 - Changes in the Scheme

00:01:13 - Implications of the Changes

00:04:56 - Pros of the Scheme

00:07:17 - Cons of the Scheme

00:15:04 - Continuing Impact of the Scheme

00:15:14 - The Domino Effect on Property Prices

00:16:07 - Increased Demand and Supply Issues

00:17:16 - Government's Role and Challenges

00:19:34 - Government's Short-Term Solutions and Long-Term Effects

00:20:07 - Personal Opinions on the Scheme

00:21:21 - Final Thoughts and Advice

00:22:48 - Closing Remarks