As brokers, we’re here to break it down in plain language — no political jargon, just facts that could affect your home buying journey.
What’s the Liberal Party Promising for First Home Buyers?
- Mortgage Interest Tax Deductions
One of the biggest promises from the Coalition is allowing first home buyers to claim tax deductions on mortgage interest. This could be a game-changer, putting money back in the pockets of those who’ve recently entered the market.
Use our loan repayment calculator to find out how much interest you could deduct from your loan here.
- Expanded Home Guarantee Scheme
The Coalition plans to expand eligibility for the Home Guarantee Scheme by raising income and property value caps.
To see how this scheme has already helped thousands of Australians buy their first homes, take a look at this helpful summary. You may find it’s more accessible than you thought.
- Use of Superannuation for Deposits
Another headline policy is the proposal to allow first-time buyers to withdraw up to $50,000 from their superannuation to use as a home deposit.
While that’s a big move, it’s also worth understanding how long it typically takes to save a deposit — and how to fast-track it without dipping into your super. Knowing your options helps you make a smarter, long-term decision.
- Banning Foreign Property Buyers (Temporarily)
To reduce pressure on the market, the Liberals are proposing a 2-year ban on foreign property investors and a 25% cut to permanent migration.
For buyers in competitive markets, this could potentially slow price growth — giving first-time buyers a fairer shot at entering the market.
- $5 Billion for Infrastructure to Unlock 500,000 New Homes
The plan also includes investment in roads, sewerage, power, and water to unlock land for housing — especially in outer metro and regional areas.
If you’re thinking of buying land now and building later, this guide explains what you need to know. With more land potentially opening up, this could become a real opportunity.
Who Benefits the Most?
- First home buyers earning slightly above average
- Those struggling to save a deposit
- Buyers open to using superannuation for homeownership
- Regional and outer-metro home seekers
- Young professionals and couples looking to break out of the rent trap
What If Labor Wins Instead?
Labor is promising a different approach:
- A shared equity Help to Buy scheme, where the government contributes up to 40% of the home’s value
- No use of super, but lower deposit requirements and no LMI
- 10,000 additional spots for regional buyers
So it really comes down to what suits your situation best — more borrowing power with super, or government equity and reduced upfront costs.
Final Thoughts From Your Broker
Elections always bring uncertainty, but also opportunity. Both parties have plans that aim to support first home buyers — in very different ways.
If you’re self-employed or working outside the traditional 9–5, getting a home loan can feel like a challenge. Here’s how to give yourself the best chance, no matter who’s in power.
Want personalised advice based on your income, goals, and timeline? Book a free strategy session with us or send us a DM anytime.
Let’s help you make the most of what’s ahead — no matter who wins.