Buying or Selling in Melbourne? You need to know this.
One detail getting missed by almost every vendor.
From October 1st, the First Home Guarantee will expand dramatically, giving eligible first-home buyers the chance to purchase with just a 5% deposit and no Lender’s Mortgage Insurance. The cap for Melbourne has also been raised from $800K to $950K, opening far more properties to this segment.
But here’s the critical detail:
These buyers can’t make unconditional bids at auction.
To qualify for the scheme, they need formal loan approval before signing, so they’re restricted to private sales or post-auction negotiations.
If you’re a seller with a home priced below $950K, this is a moment to act, but with strategy.
The opportunity might not be at auction – it’s before it, off-market, or through tight private campaigns designed to create urgency while giving these buyers a path to secure your home.
We’ve already begun advising vendors on how to capture this wave. If this sounds like you, let’s talk about a tailored plan that balances visibility with smart timing – before everyone else catches on.