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

The measure is going to help Australians, particularly young Australians, to invest in their future by extending the new home guarantee. The extension will provide an additional 10,000 guarantees in the 2021-22 year, allowing first home owners to build a new home or move into a newly built home with a deposit of as little as five per cent. The other 15 per cent will be underwritten by the government. The new home guarantee has proved extraordinarily popular and particularly popular in enabling young Australians to be able to get into their first home much earlier. Fifty-one per cent of the guarantees that we've put in place today have gone to people under the age of 30. This is a hugely positive program. It works alongside the HomeBuilder program, which equally has been very successful not only in being able to provide access to homeownership but also in stimulating the construction industry.