The New Home Guarantee (NHG) is an Australian Government initiative first launched in November 2020 which supports an additional 10,000 eligible first home buyers build a new dwelling or purchase a newly built dwelling each financial year. The First Home Loan Deposit Scheme (FHLDS) is an Australian Government initiative to support up to 10,000 eligible first home buyers to purchase their first home each financial year. These programs are administered by the National Housing Finance and Investment Corporation (NHFIC), a corporate Commonwealth entity.

Under the New Home Guarantee, NHFIC guarantees participating lenders up to 15 per cent of a first home buyer’s home loan, allowing eligible first home buyer’s to purchase a new home or land with a deposit of 5 per cent.  The Guarantee is specifically focussed on assisting first home buyers to purchase newly constructed dwellings (including where a home has been substantially renovated, or knocked down and rebuilt, by the vendor); off the plan dwellings; house and land packages; and land and a separate contract to build a new home. To be eligible first home buyers must meet certain criteria including property price caps, (which vary across states and territories), intention to be an owner-occupier and taxable income under $125,000 (or $200,000 for couples).

See https://www.nhfic.gov.au/research/fhlds-trends-insights-report-2020-21 for further information, including latest statistics by LGA and trends and the full report First Home Loan Deposit Scheme and New Home Guarantee Trends & Insights Report 2020–21.