What property price thresholds apply for FHLDS (New
Homes)?
FHLDS (New Homes) assists in the building or purchase of a
new home. The value of the new home must not exceed the
relevant price cap for the area in which it is located. The
price caps for capital cities, large regional centres and
regional areas are on the following page.
State
Capital city and
regional centres*
New South Wales $950,000 $600,000
Victoria $850,000 $550,000
Queensland $650,000 $500,000
Western Australia $550,000 $400,000
South Australia $550,000 $400,000
Tasmania $550,000 $400,000
Territory All areas
Australian Capital Territory $600,000
Northern Territory $550,000
Jervis Bay Territory & Norfolk Island $600,000
Christmas Island and Cocos (Keeling)
Islands
$400,000
* Note that regional centres only include the areas identified as (1) in
New South Wales, Illawarra and Newcastle and Lake Macquarie, (2) in
Victoria, Geelong, and (3) in Queensland, Gold Coast and Sunshine
Coast.
Who is eligible for FHLDS (New Homes)?
• Australian citizens who are at least 18 years of
age. Permanent residents are not eligible.
• Single applicants with a taxable income of up to
$125,000 per annum for the previous financial
year and couples with a taxable income of up to
$200,000 per annum for the previous financial
year. For all FHLDS (New Homes) applications
made to 30 June 2021, the relevant financial
year assessed will be 2019-20.
• Couples are only eligible for FHLDS (New Homes)
if they are married or in a de-facto relationship
with each other. Other persons buying together,
including siblings, parent/child or friends, are not
eligible for FHLDS (New Homes).
• FHLDS (New Homes) assists single (individual)
applicants and couples (together) who have at
least 5 per cent of the value of an eligible
property saved as a deposit. If 20 per cent or
more is saved, then the home loan will not be
covered by FHLDS (New Homes).
• Loans under FHLDS (New Homes) require
scheduled repayments of the principal and
interest of the loan for the full period of the
agreement, which will need to be for a term of
30 years or less, (with limited exceptions for
interest-only loans, which mainly relate to
construction lending).
• Applicants must intend to be owner-occupiers
of the purchased property. Investment
properties are not supported.
• Applicants must be first home buyers who have
not previously owned, or had an interest in, a
property in Australia, either separately or jointly
with someone else (includes residential strata
and company title properties).
How to apply
Eligible first home buyers can apply for FHLDS (New
Homes) through a participating lender. The full list of
participating lenders is at
https://www.nhfic.gov.au/what-we-do/fhlds/how-to-
apply/#FHLDSlenders.
• First home buyers are responsible for meeting
all costs and repayments for the home loan
associated with the guarantee.
• All applications for the FHLDS (New Homes)
need to be made directly with one of the
Scheme’s participating lenders.
NHFIC doesn’t
accept applications directly from first home
buyers.
Find out more on how to apply at
www.nhfic.gov.au/what-we-do/fhlds/how-to-
apply