Cassandra Fernando (Holt, Australian Labor Party) Share this | Link to this | Hansard source

For many first home buyers, the dream of owning a home can just feel out of reach. Saving for a 20 per cent deposit while paying rent, groceries and bills is simply too much. That's why the Albanese Labor government's home deposit scheme is making such a real difference in my electorate of Holt. By cutting the required deposit from 20 per cent to just five per cent, it's helping everyday Australians get their foot in the door years sooner.

I want to share the story of Holt locals Mark and Jana. Like so many in our community, they were working hard and doing everything right but were stuck watching house prices rise faster than their savings. Thanks to the five per cent deposit guarantee, they didn't have to wait another five or 10 years. They didn't have to hand over thousands to an insurance company for lenders mortgage insurance. Instead, they finally got their keys and moved into their own home in Narre Warren South. That is what this policy is about. Like Mark and Jana, 2,565 first home buyers in Holt have fulfilled the great Australian dream of homeownership.