Advertisement
Earlier this month, housing minister Clare O’Neil boasted that the government’s expanded 5% deposit scheme, introduced on 1 October 2025, had ‘helped’ more than 100,000 people into the housing market.
Users of the Albanese government’s 5% deposit scheme
In reality, the scheme lured 100,000 first home buyers into debt to buy near the top of the market.
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
Advertisement