Anne Ruston (SA, Liberal Party, Minister for Families and Social Services) Share this | Hansard source

We all know that homeownership is an absolutely intrinsic part of the Australian dream and it's also a very important component of creating lifelong stability for Australians. That is why, as the government, we have given young Australians the mechanism and confidence to invest in their future. Saving for a deposit can be particularly difficult, so our First Home Loan Deposit Scheme helps Australians to buy their first house by making their deposit as little as five per cent. As part of our economic plan to rebuild our economy, the scheme was extended to allow an additional 10,000 young Australians who are buying their first home to be able to access this particular program, with a guaranteed loan until 30 June 2021.

When we first introduced the HomeBuilder program, those opposite insisted that nobody would take up the offer and it was only for the rich. We now know that first home buyers were the biggest cohort to use this grant and, despite the pandemic, we've seen the highest number of first home buyers in 11 years.