Unlock the secrets to first home buyer statistics

What first home buyer statistics tell pharmacy managers right now

First home buyers make up roughly 17% of all property finance commitments nationally, a figure that has held relatively steady across the past few years despite fluctuations in interest rates and scheme eligibility. For pharmacy managers planning their first purchase, that participation rate reflects a market where government support, deposit schemes, and duty concessions have kept entry viable for those with stable income.

The figures confirm what we see in practice: first home buyers continue to enter the market when they can access the right deposit structure and understand their borrowing capacity. Pharmacy managers typically sit within the income bands eligible for both federal and state schemes, which means the decision to buy depends less on whether support exists and more on whether you qualify and whether the numbers work in your preferred location.

How the 5% Deposit Scheme changed first home buyer participation

The Australian Government 5% Deposit Scheme removed annual place caps from 1 October 2025. Before that date, applicants faced allocation limits and timing pressure. After that date, the scheme became demand-driven. Any eligible first home buyer purchasing a property under the applicable price cap can apply through a participating lender without waiting for a place to open.

For pharmacy managers, that shift matters because you no longer need to time an application around a quarterly release date. Consider a pharmacy manager earning $110,000 base salary, working in a metropolitan role with stable employment. That buyer qualifies for the scheme with a 5% deposit on a property up to the state or territory cap, and no LMI applies. In New South Wales, the price cap for capital city and regional centres is $1,500,000. In Victoria, it is $950,000. The scheme does not impose income limits, so higher-earning buyers remain eligible as long as they meet the first home buyer criteria.

The removal of place caps drove a measurable increase in scheme usage in the months following the change. Buyers who previously missed out or delayed their plans re-entered the market once eligibility became continuous.

First home buyer activity by state and territory

Statistics published by the Australian Bureau of Statistics show that New South Wales and Victoria together account for more than half of all first home buyer finance commitments nationally. Queensland follows as the third-largest contributor. Those three states also provide the broadest range of stamp duty concessions and grant support for first home buyers.

In New South Wales, first home buyers purchasing established homes valued up to $800,000 receive full transfer duty exemption. In Victoria, full exemption applies on properties valued up to $600,000, with a concession extending to $750,000. Queensland offers full stamp duty relief on new homes with no price cap, and a substantial first home concession on established homes for properties valued under $710,000.

Pharmacy managers often work in capital city or large regional centre locations where median property values sit near the upper thresholds of these concessions. That means your first purchase decision often hinges on whether you are buying new or established, and whether the property value falls within the concession range for your state.

Average deposit size and how pharmacy managers fund their first purchase

First home buyers who do not use a government guarantee scheme typically provide deposits between 10% and 20% of the property value. Those using the 5% Deposit Scheme for Pharmacists can enter with just 5% saved, which reduces the cash required upfront but requires that both the purchase price and the lender's valuation fall within the applicable cap.

Pharmacy managers in their late twenties to mid-thirties often combine genuine savings with support from family. That might take the form of a gift deposit, which most lenders accept if accompanied by a signed gift declaration confirming the funds do not need to be repaid. Some buyers also access the First Home Super Saver Scheme, which allows voluntary superannuation contributions to be withdrawn for a deposit up to a lifetime cap of $50,000.

Consider a buyer who has saved $40,000 in cash, withdrawn $30,000 from the FHSS Scheme, and received a $20,000 gift from parents. That buyer holds $90,000 available for deposit and costs. On a property purchased for $700,000 with a 10% deposit plus settlement costs of around $25,000 to $30,000, that amount would cover entry without requiring LMI if the buyer qualifies for an LMI waiver, or with a reduced LMI premium if funding the shortfall.

Some lenders offer LMI waivers for pharmacists on deposits as low as 10%, which can reduce total upfront cash requirements by several thousand dollars compared to a standard borrower in the same deposit position.

Which schemes first home buyers actually use

The 5% Deposit Scheme sees higher uptake than Help to Buy, largely because Help to Buy applies income caps of $100,000 for individuals and $160,000 for joint applicants. Many pharmacy managers exceed those limits, particularly once progression to a manager-level role occurs.

Help to Buy also imposes property price caps that sit below median values in parts of Sydney, Melbourne, and Brisbane. The scheme requires the buyer to accept a government equity stake of up to 40% on new homes or 30% on established homes, which may not suit buyers who prefer full ownership from settlement.

First home buyer grants remain widely claimed where available. In Queensland, the $15,000 FHOG for new homes continues to support buyers purchasing house and land packages or newly built homes under $750,000. In South Australia, the $15,000 FHOG applies to new homes with no property price cap for eligible contracts entered into from 6 June 2024, and stamp duty relief is also available on new homes and vacant land with no cap.

The Northern Territory offers the highest first home buyer grant in the country at $50,000 for new homes, with no cap on purchase or build price, for contracts signed between 1 October 2024 and 30 September 2027. That level of support significantly reduces the cash required upfront and can make the difference between waiting another year to save or proceeding with a purchase.

How interest rate movements affect first home buyer activity

First home buyer participation rates declined slightly during the period when variable interest rates rose sharply between late 2022 and mid 2023. Borrowing capacity tightened as lenders applied higher serviceability buffers, and some buyers delayed their purchase until rates stabilised.

From early 2026, variable rates have remained relatively stable, and some fixed rate products have become more competitive. Pharmacy managers who locked in fixed rates during the peak rate period in 2023 are now reaching fixed rate expiry and refinancing to lower variable or split loan structures.

For first home buyers entering the market now, the assessment rate used by lenders to test serviceability typically sits 3% above the actual interest rate offered. That buffer means a buyer approved at current rates should still be able to service their loan if rates rise moderately over the life of the loan.

What the data means for pharmacy managers planning their first purchase

Statistics show that first home buyers with stable employment, clear savings history, and an understanding of available schemes are continuing to enter the market. Pharmacy managers benefit from profession-specific lending policies that recognise AHPRA registration, employment stability, and earning potential.

If you are planning your first purchase, start with a clear view of your borrowing capacity, confirm which schemes apply in your state or territory, and work out whether a 5%, 10%, or 20% deposit structure suits your savings position. Getting loan pre-approval before you start searching gives you a confirmed budget and allows you to move quickly when you find the right property.

Call one of our team or book an appointment at a time that works for you. We can review your eligibility for the 5% Deposit Scheme, confirm available home loan options for pharmacy managers, and structure your application to access applicable grants and duty concessions in your state.

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