Hundreds of first-home buyers in the region with low deposits have been helped into the housing market by a government guarantee scheme.
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According to new federal government data, 288 individuals in the Central West and 190 in the Far West and Orana region have so far benefited from the Regional First Home Buyer Guarantee.
The scheme was introduced in October 2022 and provides a government guarantee of up to 15 per cent so first homebuyers in regional Australia with a five per cent deposit can avoid paying mortgage insurance.
In the Central West - which includes Bathurst, Orange, Parkes and Lithgow - 104 couples and 80 singles have taken up the guarantee.
Of the singles, 30 were female, 29 were male and 21 did not disclose their gender. 43 per cent of all guarantees given in the Central West were given to single buyers, with 16 per cent to single females.
In the Far West and Orana region - which includes Dubbo, Mudgee, Bourke and Broken Hill - 62 couples and 66 singles have taken up the guarantee.
A higher proportion of singles received the guarantee in the Far West and Orana region compared to the Central West, with 51 per cent of guarantees in the region given to single buyers.
Of the single buyers, 31 were female, 19 were male and 16 were undisclosed. Single females were the recipients of 24 per cent of all guarantees.
The guarantee is available to first homebuyers living outside capital cities who are able to demonstrate they have been living in the region in which they are purchasing the property, or an adjacent regional area, for at least a year.
In July 2023, the government expanded eligibility for the scheme to include joint applications from friends and family members and non-first homebuyers who haven't owned a property in Australia in the last 10 years.
Since its inception, more than 10,000 people across Australia have taken advantage of the guarantee.
This includes 4057 in Queensland, 3736 in NSW, 2007 in Victoria, 533 in Western Australia, 318 in South Australia, 195 in Tasmania and 17 in the Northern Territory.
Federal housing minister Julie Collins said, with house prices continuing to climb, it is fantastic so many regional Australians have been helped into the housing market by the scheme.
"When we were elected, we knew Australians living in regional areas were facing housing affordability challenges, making it hard for locals to save a sufficient deposit," she said.
"That's why we brought this targeted support forward three months, to assist more regional Australians into home ownership sooner.
"It's one part of our broad housing agenda to ensure more Australians have a safe and affordable place to call home - whether they're buying, renting or needing a safe space to spend the night."
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