Investing in Pimpama: The Benefits of Buying Property in Queensland's Hotspot Suburb

Home ownership might be closer than you think with the latest expansion of the Home Guarantee Scheme set to take effect from 1 October 2025, instead of January 2026. This fast-tracked scheme means eligible first home buyers in Queensland will be able to purchase a home with just a 5% deposit, and avoid paying costly Lenders Mortgage Insurance (LMI). This change means first home buyers could save tens of thousands of dollars and cut years off the time it takes to save a deposit. The scheme expansion opens the door to all first home buyers by removing caps on places and income limits; meaning those on higher incomes or looking at properties previously above the cap can now take advantage of the scheme. What is the 5% Deposit First Home Guarantee? The First Home Guarantee is an Australian Government initiative which allows first home buyers to purchase a property with a 5% deposit, without the need to pay LMI. Here’s how it works: First home buyers can purchase a property with just a 5% deposit. The Government then acts as a guarantor for the remaining 15%, meaning first home buyers don’t need to save a 20% deposit to avoid LMI. Previously, income thresholds applied and only a limited number of places were available under the scheme. Under the expansion these restrictions will be lifted making the scheme more accessible than ever. Who is Eligible for the First Home Guarantee? From 1 October 2025, all Australian first home buyers are eligible for the First Home Guarantee. Key Eligibility Criteria for the First Home Guarantee First home buyer: You must be a first home buyer or have not owned or held interest in Property in the past 10 years including commercial, investment or company title properties. Deposit: Minimum 5% deposit. Citizenship: You must be an Australian citizen or permanent resident. Income: As of 1 October 2025, there are no income limits on the First Home Guarantee. Owner Occupied: You must buy a home to live in (investment properties are not eligible). Age: You must be at least 18 years old. Applies to: New and existing residential properties including houses, townhouses, apartments and house-and-land packages. First Home Guarantee Expansion Major Benefits 5% deposit: low-deposit first home buyers can access the Scheme No place limits: open to all Australian first home buyers with a 5% deposit No income caps: higher income first home buyers can now access the Scheme Higher property price caps: increased property price caps in line with median home prices across Australia What Are the Property Price Caps for Queensland Under the First Home Guarantee 2025? One of the most significant changes in the First Home Guarantee expansion is the increase to property price caps, which will come into effect from 1 October 2025. The adjustment to property price caps brings the scheme in line with current market conditions and allows Queensland first home buyers to purchase more realistically priced properties in high-demand areas like Brisbane, Gold Coast and Sunshine Coast. Queensland Property Price Caps (Effective 1 October 2025)

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