The game has changed completely.
No more fighting for limited spots. No more being locked out because you earn "too much." The expanded scheme means anyone who hasn't owned property in Australia for 10 years can buy with just 5% deposit and skip the crushing burden of Lenders Mortgage Insurance. In Sydney, the property cap jumps from $900,000 to a whopping $1.5 million.
This isn't just tweaking around the edges; it's throwing the doors wide open.
The uncomfortable truth: prices will rise.
Let's be real about what happens next. Industry experts predict 70,000 new first home buyers will flood the market from October. That's not a trickle; it's a tsunami of demand hitting an already tight property market.
Basic economics tells us what comes next: more buyers + limited supply = higher prices. The very scheme designed to help first home buyers could inadvertently price them out if they wait too long.
The window of opportunity:
Here's my take: if you're ready to buy, the next few months before October represent a unique opportunity. You're competing against today's buyer pool, not tomorrows expanded one. Once those floodgates open and tens of thousands of previously ineligible buyers enter the market, you'll be fighting harder for the same properties, and likely paying more.
Think about it: professionals earning $150,000+ who were previously locked out will suddenly be competing for the same homes. That couple earning $250,000 combined? They're now your competition too.
The strategic move:
If you've got your 5% deposit ready (or close to it), start your pre-approval process NOW. Get your finance sorted, understand your borrowing capacity, and begin seriously looking. The smart money moves before the crowd.
Yes, the expanded scheme is fantastic news for accessibility. But accessibility breeds competition, and competition drives prices. The government's good intentions could create an unintended consequence, making homes less affordable even as they become more accessible.
Bottom line:
October 2025 will mark a seismic shift in Australia's property market. The question isn't whether to celebrate the expanded access, it's whether you'll be ahead of the wave or swept up in it.
If you're ready, don't wait for October thinking you'll have better options. You might have more scheme access, but you'll also have more competition and likely higher prices.
The clock is ticking. Which side of October do you want to be on?
Ready to explore your options? Book a strategy session today
Mortgage Advice Bureau Sydney Pty Ltd | Credit Representative 528396 is authorised under Australian Credit Licence 389087. This information is general in nature and does not take into account your personal financial situation, needs or objectives. Before making any decision based on this information, you should consider its appropriateness having regard to your individual circumstances. Terms and conditions apply. Homepay loans are subject to lender approval and builder accreditation. Interest capitalisation increases your total loan balance and repayments.