What’s New in the Home Guarantee Scheme?

Unlimited Places & Higher Property Price Caps: Major Boost for First Home Buyers from 1 October 2025

Exciting news for Australians looking to buy their first home! The federal government has unveiled significant updates to the Home Guarantee Scheme, set to now take effect from 1 October 2025. This a revision from the previous announcement that came from the Albanese government post winning the federal election in May of this year that had the changes coming into effect from 01st January 2026.
This is a major boost to First Home Buyers with these updates making home ownership more accessible.

Let’s explore what’s changing and how it can help aspiring homeowners.

What’s New in the Home Guarantee Scheme?

No More Place Limits

From 1 October 2025, the scheme will lift all caps on the number of government-backed guarantees. That means every eligible first home buyer who has a minimum 5% deposit can apply—no more waiting for an available spot.

No Income Caps

Previously, applicants were required to fall under certain income thresholds. With the new changes, those income limits are removed, making the scheme accessible to a broader range of buyers.

Significantly Higher Property Price Caps

The government has raised property value limits across states and territories to align with rising market prices. Here’s how the new price caps compare to the current ones:

Location	Current Property Price Cap	Property Price Cap effective 1 October 2025
VIC – capital city and regional centre	$800,000	$950,000
VIC – other	$650,000	$650,000

Streamlined Access in Regional Areas

The existing Regional First Home Buyer Guarantee will be phased out and replaced by the unified First Home Guarantee, simplifying the scheme across both urban and regional applicants.

Why These Updates Matter

Greater Accessibility: With unlimited places and no income caps, more Australians, regardless of their income or application timing, can qualify.
Adapting to Market Realities: The raised price thresholds reflect current property values, especially in metro and high-demand areas.
Equity and Simplicity: Merging regional and metropolitan access under one guarantee ensures fairer and more consistent treatment across the board.

How to Apply After 1 October 2025

Check Your Eligibility – A refreshed Eligibility Tool will be available from 1 October 2025. In the meantime, review the updated criteria to get a head start.
Verify the Price Cap – Use the Postcode Search Tool to confirm the new cap applicable to your chosen location. Always double-check with your lender.
Contact a Participating Lender – A new application through one of over 30 participating lenders (including major and regional banks) is required. They’ll process your application and submit it to Housing Australia.
Find a Home & Apply for Pre-approval – Once your new home is secured, whether that be an apartment, land to build a home or a house and land package, the lender will guide you through securing pre-approval and meeting documentation requirements.

Looking Ahead

These changes, effective from 1 October 2025, represent a major policy shift aimed at increasing home ownership opportunities across Australia. Whether you’re just starting to save or ready to buy now, these changes are designed to support you, no matter your background or location.

Visit Housing Australia to find out more and check your eligibility.

Read the media release here

Your New Home at Marigold Tarneit Awaits!

Located in Melbourne’s thriving western corridor, Tarneit has fast become a preferred choice for homebuyers and investors alike. Situated approximately 25 kilometres west of Melbourne’s CBD, the suburb offers a balanced lifestyle, combining the convenience of modern amenities with the tranquillity of open spaces. With its continuous development and excellent connectivity, the suburb of Tarneit is primed for ongoing growth, making it an appealing choice for families and first-time buyers looking for their new home.

Growland brings you a unique opportunity to purchase a completed home* within our beautiful Marigold community in Tarneit. With construction completed and ready to move in now, you are in the driver’s seat in terms of how quickly you can be enjoying life in your brand-new home in the thriving suburb of Tarneit!

Whether stepping into homeownership for the first time, expanding to meet your family’s needs, or looking for a one-of-a-kind investment opportunity, this beautiful, recently completed home delivers on all fronts.

This brand-new home, constructed by Paramount Living, has been designed with the utmost attention to detail. Incorporating an innovative 5 bedrooms, this turnkey home epitomises sustainability, functionality, and luxury.

Located within Stage 10 of the Marigold community, this home fronts the completed Frog Way Park, meaning the lucky purchaser has fantastic access to one of two parks within the community.

We only have one of these homes available. To make it yours, contact Rob at Marigold on 1300 888 181 today.

*Available as a one-part contract. Perfect for investments and self-managed super funds.

Neue Grand Reaches Completion and Award Recognition

Growland is proud to announce the completion of Neue Grand — a landmark residential development now standing with distinction along Melbourne’s iconic St Kilda Road. With construction finalised in April 2025, residents have begun moving into what is fast becoming one of Australia’s most celebrated boutique addresses.

In recognition of its exceptional design and innovation, Neue Grand has been named a finalist in two prestigious categories at The Urban Developer Awards for Industry Excellence 2025:

Development of the Year – Small-Scale Residential (11–20+ Apartments)
Excellence in Design Innovation

These nominations highlight Neue Grand’s contribution to Australia’s built environment through outstanding architecture and pioneering residential innovation.

This milestone reflects Growland’s ongoing commitment to delivering visionary, high-quality developments that respond to the character of their surroundings and the evolving expectations of modern urban living.

Award winners will be announced later this year, celebrating excellence in urban development across Australia and New Zealand.

We extend our sincere thanks to our partners, consultants, builders, and homeowners for their trust and contribution to this world-class achievement.

For more information, visit: neuegrand.com.au

Growland Completes Neue Grand, Welcoming First Residents to Their Luxury St Kilda Road Address

Melbourne, [01 April 2025] – Growland proudly announces the completion of Neue Grand, its highly anticipated ultra-luxury residential development on St Kilda Road, marking a significant milestone as the first residents take possession of their new homes.

Neue Grand sets a new benchmark in premium living, offering an exclusive collection of full-floor residences designed to provide unparalleled luxury, privacy, and sophistication. The completion of the project sees its visionary design come to life, seamlessly integrating opulence with functionality in one of Melbourne’s most prestigious locations.

“We are delighted to welcome the first homeowners to Neue Grand and see our vision become a reality,” said Ronald Chan, CEO at Growland. “This project embodies Growland’s commitment to excellence, redefining the meaning of bespoke living in Melbourne. Every detail has been meticulously crafted to ensure a world-class residential experience.”

Located along the historic St Kilda Road boulevard, Neue Grand offers residents sweeping panoramic views, state-of-the-art amenities, and world-class architectural craftsmanship. Each residence boasts expansive living spaces, private garages with car lifts, and refined interior finishes, reflecting an uncompromising dedication to quality and design.

As Neue Grand opens its doors, the first group of homeowners will experience a new era of high-end living, where luxury meets innovation in a city renowned for its dynamic property landscape.

For more information about Neue Grand, please visit www.neuegrand.com.au.

Off-the-plan Stamp Duty Concession.

On October 21, 2024, the Victorian Government introduced a new temporary stamp duty concession, making it easier for eligible off-the-plan property buyers to reduce their stamp duty liability. This initiative offers potential savings of tens of thousands of dollars to homebuyers in Victoria over the next 12 months. With the rising cost of living, stamp duty concessions can deliver additional budget to help you secure your home or furnish it to make it truly feel like yours.

What is the temporary off-the-plan duty concession?
This temporary concession allows buyers to deduct outlined construction costs from the property’s dutiable value, reducing the amount on which stamp duty is calculated. For eligible purchasers, it functions similarly to the existing off-the-plan concession, with the key difference being its broader eligibility, which includes all buyer types, not just owner-occupiers or first-home buyers. It is available for contracts signed between October 21, 2024 and October 21, 2025. Existing off-the-plan concessions will still apply, meaning purchasers eligible under the current duty concessions will continue to be so beyond this temporary concession.

Who is eligible?
To qualify for the temporary stamp duty concession, the property you’re purchasing must
meet the following conditions:
– Must be an off-the-plan dwelling within a strata subdivision, meaning the development
has shared features such as common driveways or facilities.
– The contract of sale must be signed within the specified 12-month period, starting from
October 21, 2024, regardless of whether settlement falls before or after October 21, 2025.
– The concession does not apply to house and land packages, which are considered
separate purchases for the purpose of duty calculation.
– Foreign buyers are not eligible for off-the-plan concessions for stamp duty in Victoria.

How to apply for the stamp duty concession.
Your conveyancer or solicitor typically handles the application for the stamp duty concession. They will use Duties Online to complete the Digital Duties Form, ensuring the eligible construction costs are accurately deducted. They’ll coordinate with the vendor or their representative, who provides the percentage of construction completed after the contract date to finalise your concession.

Save thousands on off-the-plan offers by Growland
If you’re considering an off-the-plan purchase in Victoria, now may be the time to explore your options. Be sure to consult with a property advisor or conveyancer to confirm your eligibility and understand how much you could save. The following properties are currently available and meet the requirements of the temporary duty concession.

Neue Grand by Growland
Neue Grand by Growland is a prestigious collector’s edition residence on Melbourne’s iconic boulevard, at the heart of the city’s arts and cultural district. This exclusive development offers unmatched luxury, featuring the southern hemisphere’s first sky garage residences, positioning it among top global residences in Miami and Singapore. Each floor holds a single, private residence, surrounded by Melbourne’s landmarks, parklands, and the bay. Designed with lasting quality and character, each home is a timeless collector’s piece and a new icon on St Kilda Road.

20 Levels, 18 Full-floor Prestige Residences, 1 Duplex Penthouse
613 St Kilda Road Melbourne Victoria
Under Construction
Anticipated to complete December 2024
Register your interest today.

Neue Grand by Growland Nears Completion – Display Apartment Now Open

Melbourne, 1 October 2024 — Growland is excited to announce that Neue Grand, the highly anticipated luxury development on St Kilda Road, is nearing completion, with residents set to move in by December 2024. The exclusive full-floor residences, each offering unrivalled privacy, stunning views, and cutting-edge design, will soon be ready to welcome their first residents.

As part of this milestone, the onsite display apartment is now open for inspection, offering prospective buyers a firsthand look at the extraordinary craftsmanship, spacious layouts, and premium finishes that define Neue Grand living. This display apartment showcases the sophistication and elegance of the development, including the unique Sky Garage system, where residents’ cars are seamlessly integrated into their living spaces as art pieces.

The display apartment is open for inspection by appointment. For more information or to book a viewing, please contact: Growland Sales Team 0455 998 899

Neue Grand by Growland Shortlisted as Finalist for UDIA Victoria Design Award 2024

PUBLICATION: Growland

DATE: 18/09/2024

Growland is proud to announce that Neue Grand, its flagship luxury residential development on St Kilda Road, has been shortlisted as a finalist for the UDIA Victoria Design Award, recognizing excellence in design, innovation, and urban living.

This exceptional residence transcends the ordinary, offering an unparalleled living experience. Every detail exudes sophistication, from the meticulously chosen materials to the state-of-the-art technology seamlessly integrated throughout. Expansive living spaces are bathed in natural light, creating an ambiance of grandeur and serenity. Unrivalled amenities and bespoke services cater to every whim, ensuring a lifestyle of effortless luxury.

We are honoured to be recognized by UDIA Victoria for Neue Grand, a development that redefines high-rise living in Melbourne. This nomination reflects our dedication to creating world-class residences that elevate the urban experience.

The winner of the UDIA Victoria Design Award will be announced at a gala event later this year.
Want to know more about this amazing project? Go to neuegrand.com.au

The Federal Government announces new $700m investment into the Victorian Homebuyer Fund.

One of the core features of the recent federal budget is affordable housing for all Australians, with the Government remarking that “inflation, cost of living pressures, and housing all continue to dominate the fiscal landscape, impacting the lives of Australians’. In line with this policy and focus, the Federal Government announced a new $700m investment into the Victorian Homebuyer Fund for the 2024 – 2025 financial year. This is great news for all Victorian would-be homeowners who are struggling to save a full deposit. This new investment will enable the fund to help many new families gain entry into the housing market.

What is the Homebuyer Fund?

The Victorian Homebuyer Fund is a shared equity scheme between the Victorian Government and the purchaser, making it easier for Victorians to enter home ownership.

How does the Homebuyer Fund work?

One of the greatest obstacles to home ownership is the increasing difficulty, and length of time, it takes Australians to save the desired 20% deposit. When doing the ‘how much deposit do I need to purchase a house’ calculation on the conventional ideal of having a 20% deposit, it can be a dispiriting realisation that this is not a feat that can be accomplished quickly, shy of robbing a bank. To help make housing more affordable and achievable, the Homebuyer Fund works to combat this by enabling Victorians with a smaller deposit to purchase without needing someone else, like a parent, to go guarantor or to be lumped with additional bank fees like Lenders Mortgage Insurance (LMI). The government acts as a second purchaser, with their own share in the property, equal to the amount of deposit contributed. This prevents the need for other interventions, like LMI and a guarantor that are not accessible to everyone and will save you money by reducing your overall mortgage as you have borrowed 70 or 80% compared to 95%.

Who is eligible for the Victorian Homebuyer Fund?
To check your eligibility for the scheme, the State Revenue’s Office has created a tool that can help you check if you could be eligible for the Victorian Homebuyer Fund. It provides general guidance in line with the eligibility criteria but does not constitute a determination of eligibility.
Check your eligibility for the Victorian Homebuyer Fund here.

What else has changed?
In other good news, the previous price cap for regional dwellings has been increased from $600,000 to $700,000. This is great news for regional Victorians as more homes will now be eligible for those that have qualified for the scheme.
For metropolitan areas, the maximum purchase price has remained at $950,000 or less.

More single parents will now also be able to access the scheme with the single parent income threshold increased to match the dual income threshold of $208,775.

What else is important to know?
Participants are required to buy back the government’s share in their property over time through refinancing, using savings, or upon sale of the property. The Victorian Government does not charge interest on its investment in participants’ homes but shares in any capital gains or losses proportionate to its share in the property.

What types of properties are eligible?
Unfortunately, vacant land and houses off the plan are not eligible for the scheme. Homes must have an occupancy permit prior to a contract being signed. This does, however, include the completed remaining apartments at Vic Square & Marco who do have completion certificates. If you’re looking for an affordable new home boasting city convenience in an architecturally striking built form with modern finishes, then two of our recent apartment projects could be just what you are looking for.

Victoria Square Footscray
Located in Footscray of Melbourne’s inner-west, Victoria Square has you supremely placed to soak up the vibrant atmosphere of this culturally rich suburb. Boasting a unique combination of old and new, this buzzing suburb promises an exceptional lifestyle surrounded by a plethora of amenities with the added benefit of being a short commute or drive into Melbourne’s CBD.

Secure a 2 Bed, 2 Bath, 1 Car Apartment at Victoria Square from $620,000!

Find out more about Victoria Sqaure Apartments here.

Marco Melbourne
Located in Southbank along the Yarra River in Melboune’s CBD, the two 40-storey buildings of Marco Melbourne command a prominent presence on the Melbourne skyline. If city living is your thing, then you have the best of the city on your doorstep moments away from the entertainment precinct along Southbank made up of Crown Casino, bars, restaurants, shopping, the Melbourne Convention and Exhibition Centre, galleries and theatres are all at your fingertips.

Secure a 1 Bed, 1 Bath Apartment at Marco Melbourne for $512,000 or 2 Bed, 1 Bath, for $638,000!

Find out more about Marco Melbourne Apartments here.

In addition to the Victorian Homebuyer Fund, you may also be eligible for a range of other grants, exemptions, or concessions to help make your home buying journey more affordable. Find out more here – Everything to consider as a First Home Buyer.

To check Victorian Homebuyer Fund eligibility criteria and how to apply, head to the Victorian State Revenues Office website.

What is the National Construction Code?

If you’re in the market for a new home and have been chatting to builders or seeing any recent media surrounding the recent NCC changes, you’re not alone. This blog post will help get you across what those changes are and why they’re important, so, you’ll be well equipped when you’re in conversations with builders when you’re designing your new home.

What is the National Construction Code?

The National Construction Code (NCC) serves as the cornerstone of regulations governing Australia’s construction industry. Updated periodically, the recent revisions, that came into effect on May 01st, continue to refine standards across various aspects of construction. The recent revisions were created in 2022, but delayed coming into effect until this year, 2024.

What impact will the NCC 2022 updates have on my build?

The NCC 2022 changes include updates to the building code surrounding structural requirements, waterproofing and dampness control, health and amenity standards, accessibility criteria, energy efficiency measures, ancillary provisions, and guidelines for designing livable housing.

While these updates mark significant strides towards enhancing the quality and sustainability of residential builds, they also present financial considerations, necessitating careful planning and potential revisions for those with limited budgets.

Increases to the Energy Ratings of New Homes

The latest update of the NCC 2022, introduces required enhancements in residential energy efficiency. Key among these are requirements aimed at achieving a minimum 7-Star energy rating for new homes, (up from a minimum 6-Star energy rating previously). These increases in energy efficiency, measured under the Nationwide House Energy Rating Scheme (NatHERS), promises heightened comfort for occupants, increased efficiency to heat and cool dwellings (equating to savings on energy bills), while also imposing a new energy usage budget to be met annually by each dwelling.

What is an Annual Energy Usage Budget?

The annual energy use budget covers all of the heating and cooling equipment, appliances, and on-site renewable energy (e.g. rooftop solar) you use in your home. The total amount of energy used by these appliances, minus any energy generated on site must be less than or equal to the annual energy use budget.

This approach means NCC 2022 provides a mix of practical solutions for homes that can be customised to the climate and location of each build.

Embracing renewable energy sources like rooftop solar panels, increasing insulation requirements, and the use of thermally efficient windows like double glazing or thermally broken double-glazed windows remains optional but will help home owners improve the energy rating of their new homes, to help them align with the annual energy usage budget.

What is Livable Housing?

The latest NCC 2022 updates also includes new requirements for Livable Housing Design Guidelines. These new provisions will improve the suitability of new Australian homes for people with reduced mobility. Livable Housing Design Guidelines focuses on changing the way we design homes to make them easier to use and more adaptable to the changing needs of occupants as they age.

The Livable Housing Design Guideline updates represents a significant pivot to how we’ve traditionally designed housing in Australia.

In practice, this means reducing steps where possible, allowing for more space in the bathroom, wider doorways, and reinforcing walls to allow for potential grabrail installations down the track.

The NCC 2022 changes usher in a new era of construction standards, prioritising not only structural integrity but also increased new home energy efficiency, with 7-star energy ratings and accessibility. While these changes may pose challenges for budget-conscious builders and individuals, they ultimately contribute to the creation of more sustainable, inclusive, and comfortable living environments for all Australians.

Growland Marks Topping Out Milestone for Neue Grand on St Kilda Road

Melbourne, 25 March 2024 — Growland proudly celebrated the topping out of Neue Grand, its landmark luxury tower on St Kilda Road, with a special ceremony held atop the building’s structure. This significant milestone, celebrated with key stakeholders and project partners, marks the completion of the building’s core and signals the countdown to final construction phases.

The Neue Grand project is set to redefine luxury living in Melbourne, offering expansive full-floor residences with a private arrival lobby for complete exclusivity and privacy. The innovative Sky Garage system allows residents to park directly in their living space, showcasing their cars as pieces of art within their apartments. This exclusive feature is a first for Australia, further elevating the Neue Grand living experience.

With final touches expected by end of 2024, Neue Grand will soon welcome residents to Melbourne’s most exclusive new address on St Kilda Road.

For more information about Neue Grand, go to neuegrand.com.au