🎉 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 unitMore buyers entering = more competition📈 Expect:✔️ Sub-$1.5M properties to rise✔️ Knock-on effects into higher brackets✔️ Units + smaller homes benefiting tooBut here’s the catch: buyers weren’t exactly lining up at midnight. The buzz is louder than the bite… for now.

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