Even during the time of Covid-19, the young and new buyers are quite optimistic about their first house purchase. The recent cut in the rates has started to encourage them to buy their dream homes and make moves in the market.
The First Home Owner Grant ( FHOG ) and the First Home Loan Deposit Scheme ( FHLDS ) are the two major initiatives taken by the Australian government to provide ease to the first home buyers. These are the national schemes administered under their legislation. The schemes are funded by the states and territories.