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Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer hotspots clustered in the city’s suburbs. This case study traces how affordability, policy design and product pivots combined to restart a stalled market. It also maps the strategic opportunities—and operational friction—now shaping developers, lenders and policymakers. For business leaders, the prize is clear: capture the entry‑level demand flywheel, or be disrupted by those who do.

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Context: a demand-side reset meets constrained supply

After a period of decline, Melbourne’s entry‑level housing market has posted six consecutive months of gains to mid‑September 2025, led by first‑home buyers (FHBs). In 2024, Australia recorded 125,220 FHB loans, up 5.9% year on year; Victoria led the nation with an 11% rise, roughly double the national growth rate. Momentum strengthened into 2025: Melbourne’s FHB lending lifted an estimated 36% year on year in June 2025, as low inventory intersected with improving affordability versus Sydney and Brisbane. Notably, four of the top five national FHB hotspots are in Melbourne’s suburbs—evidence of a concentrated, highly actionable buyer pool.

Policy and cost dynamics amplified demand. The First Home Owner Grant (FHOG) and the Victorian Homebuyer Fund (shared equity) lowered deposit hurdles, while easing rate expectations improved borrowing capacity. As REA Group (PropTrack) senior economist Eleanor Creagh observes, “enquiries per listing are a leading indicator of potential price growth,” and Melbourne’s relative affordability is channelling those enquiries disproportionately into its outer‑ring markets. The net effect: twice the interest relative to other capitals, but with supply slow to respond.

Decision: pivot the product, de-risk the buyer journey

From late 2024, a cross‑section of Melbourne developers, lenders and sales platforms made three coordinated calls:

• Re‑segment the entry market: tilt pipelines toward sub‑$X price points aligned with scheme thresholds and FHB borrowing power, favouring townhouses, micro‑lots and compact apartments with efficient floorplates.
• Compress friction in financing: pre‑approval in days, not weeks; family‑guarantee and shared‑equity‑compatible products for the “Bank of Mum and Dad” cohort; digital document ingestion to shorten time‑to‑yes.
• Target lead density over geography: concentrate marketing and sales channels in the handful of suburbs where enquiry velocity is already national‑top‑five, turning demand concentration into sales velocity.

The strategic thesis used a simple flywheel: price‑fit product and faster finance lift enquiry-to-sale conversion; faster absorption reduces developer carrying costs; reduced costs fund sharper price points; sharper price points pull in more qualified FHBs.

Implementation: from blueprint to boots-on-the-ground

Execution hinged on four operational moves:

• Design-to-budget engineering: value management around build cost and time (modular components, repeatable designs, fewer bespoke finishes) to hit scheme‑aligned price bands without eroding perceived quality.
• Data‑led selling: OCR‑based pre‑qualification of IDs/income, rules‑engine screening to check FHOG/Homebuyer Fund eligibility, and segmentation by suburb‑level enquiry heat maps to prioritise stock releases.
• Capital stack tuning: lenders adjusted risk appetite for FHBs using lower loan‑to‑value ratios with parental guarantees and shared‑equity structures; developers staged releases to smooth cash flows and reduce pre‑sales risk.
• Policy alignment: sales teams trained to package grants/equity schemes with contracts; developers timed launches around policy windows and rate‑sensitive periods to maximise attendance and conversion.

Technically, the financing stack relied on three levers: loan-to-income guardrails maintained prudence; guarantee structures substituted equity for deposit gaps; and rate‑path expectations expanded borrowing power. This made first‑home demand bankable without materially loosening standards.

Results: demand concentration turned into measurable absorption

The combined approach produced a clear, numbers‑backed shift:

• Volume growth: FHB loans nationally hit 125,220 in 2024 (+5.9%); Victoria rose 11%, outpacing the country. Melbourne’s FHB lending surged an estimated 36% year on year in June 2025.
• Sustained momentum: six straight months of price and activity improvements through mid‑September 2025, reversing earlier declines.
• Geographic dominance: four of Australia’s top five FHB hotspots are in Melbourne, concentrating marketing ROI and accelerating off‑the‑plan absorption in those catchments.
• Forward trajectory: 2025 national FHB loans are projected to lift ~6.5% to about 133,308, with Melbourne expected to outperform on affordability and policy uptake; KPMG forecasts position Melbourne as a likely standout through 2026.

Downstream impacts are already visible in the broader value chain: better pre‑sale coverage is unlocking construction debt more quickly; auction and private‑treaty clearance in targeted corridors have improved alongside enquiry density; and developers report fewer cancellations where buyers leveraged shared‑equity support.

Market context and competitive dynamics

Two forces are shaping the competitive landscape. First, relative affordability arbitrage: buyers priced out of Sydney are migrating their search to Melbourne, reinforcing demand. Second, inventory scarcity: low listings across capitals create a rising‑tide effect, but Melbourne’s policy‑enabled demand concentration amplifies it. Major bank economists remain split—some forecast moderate, sustainable growth into 2026 assuming stable or easing rates; others warn that a sharp rebound in construction costs or delayed approvals could cap gains.

For context, global analogues (e.g., the UK’s Help to Buy era and Canadian first‑time incentives) show that policy‑amplified FHB cycles can be powerful but transient if supply fails to respond. Melbourne’s advantage is that its price points remain closer to incomes than Sydney’s, giving the city a longer runway—provided delivery accelerates.

Business impact: P&L, risk and operational reality

• Developers: Faster absorption lowers interest carry and sales costs; design‑to‑budget improves build margins. Key risks: builder insolvencies, approvals lag, and material volatility.
• Lenders: Larger FHB books diversify retail portfolios; digital pre‑approvals cut acquisition cost per funded loan. Risk mitigants: conservative LVRs, parental guarantees, and shared‑equity structures.
• Suppliers/Trades: Stable FHB pipelines support capacity planning and shift work toward repeatable, higher‑throughput typologies (townhouses, compact apartments).
• Government: Grants and equity programmes catalyse ownership and economic activity but require guardrails to avoid fuelling price inflation without supply response.

Lessons and strategic implications

• Compete where policy anchors demand: Concentrate product and marketing in scheme‑aligned bands and suburbs with proven enquiry density; this is a structural, not cyclical, advantage while programmes persist.
• Speed is a strategy: Time‑to‑approval and time‑to‑contract are now revenue drivers. Target pre‑approval in under 72 hours; deploy e‑contracts and automated eligibility checks.
• Design for the FHB job‑to‑be‑done: Prioritise commute‑worthy locations, two‑bed formats, energy‑efficient inclusions, and strata fees that keep total cost of ownership under serviceability thresholds.
• Hedge supply risk: Use modular elements, framework agreements with key trades, and index‑linked contracts to absorb input‑cost shocks.
• Policy partnership pays: Work with councils and the state to fast‑track approvals in high‑demand corridors; evidence from six months of gains strengthens the case for streamlined planning.

Future outlook: scenarios and watch‑items

Base case: moderate price and transaction growth into 2026 as affordability and policy keep FHB demand elevated, with Melbourne likely outperforming peers. Upside: deeper rate cuts and planning reform accelerate delivery and extend the cycle. Downside: construction sector stress, approvals drag, or a growth shock erodes serviceability and stalls demand.

The signal for decision‑makers is unambiguous: Melbourne’s entry‑level housing flywheel is spinning. Early movers that match price, product and finance to the city’s concentrated FHB demand will bank share and margin; late entrants will find themselves competing on incentives as the market normalises.

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, proper" ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["check_access_rights"]=> int(0) ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["displayDate"]=> string(19) "2025-09-15 23:00:50" ["slug"]=> string(77) "18932:twice-the-demand-the-case-study-behind-melbournes-firsthome-buyer-surge" ["event"]=> object(stdClass)#9112 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(132) "

• Yes

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Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer hotspots clustered in the city’s suburbs. This case study traces how affordability, policy design and product pivots combined to restart a stalled market. It also maps the strategic opportunities—and operational friction—now shaping developers, lenders and policymakers. For business leaders, the prize is clear: capture the entry‑level demand flywheel, or be disrupted by those who do.

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Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government guarantees, lender competition, and faster digital decisioning. For banks and brokers, the upside is real — volume, sticky primary relationships, and cross‑sell. The downside is equally clear: thinner buffers, higher cohort risk, and the need for sharper pricing and portfolio controls as affordability stays stretched.

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Key implication: First‑home buyers are no longer a cyclical niche. They are now a structural growth lever shaping product design, pricing, distribution, and underwriting in Australian mortgages through 2026.

Signal from the noise: FHBs now anchor mortgage growth

GSB’s result — close to a third of new loans written to first‑timers — mirrors a national pivot. Industry data indicate 125,220 first‑home buyer (FHB) loans in 2024, up 5.9% year on year, with a further 6.5% uplift projected in 2025 to roughly 133,300. That growth outpaces broader owner‑occupier demand. In value terms, the average FHB loan hovers around the A$500,000 mark nationally, well above that in Sydney and Melbourne, reflecting ongoing price pressure in major capitals.

The strategic cue is simple: the FHB segment is now the incremental buyer setting the marginal price for mortgage growth. Lenders optimising for this cohort will capture volume, but only if they price risk precisely and execute faster than rivals.

Market context and demand drivers

Three forces are pulling in the same direction. First, rates have stabilised after the sharp tightening cycle, with the cash rate holding at restrictive levels but no longer climbing. That has eased fear of further payment shocks and brought buyers back to the pre‑approval table. Second, more stock is trickling onto the market compared with the 2021–22 drought, tempering bidding frenzies even as prices continue to rise at a mid‑ to high‑single‑digit annual pace in several cities. Third, employment conditions remain supportive, keeping serviceability within regulatory guardrails for many dual‑income households.

Global analysts, including voices like Jessica Lautz and Mark Hamrick, characterise the housing market as thawing: fewer extreme bidding wars, more balanced listings, and rate expectations that are flatter through 2026 than the pandemic whipsaw. Australia is participating in that reset, though elevated dwelling prices and rents continue to strain deposits and borrowing capacity.

Policy as a market‑maker: the 5% deposit effect

The Home Guarantee Scheme (HGS) has become the paramount accelerator. By guaranteeing up to 15% of a property’s value, it allows eligible FHBs to purchase with a 5% deposit and avoid lenders mortgage insurance. With combined annual places across the First Home Guarantee, Regional First Home Buyer Guarantee, and Family Home Guarantee numbering around 50,000, the HGS is now a major demand conduit.

Economically, the guarantee shifts tail risk from lender to sovereign, lowering effective loss‑given‑default for participating loans and changing price elasticity. That can pull forward demand and raise clearing prices at the margin, especially in entry‑level segments with tight supply. Second‑order effects include moral hazard (borrowers maximising leverage) and adverse selection if underwriting relies too heavily on the guarantee rather than income durability and expense realism.

The policy risk is concentration: if a material share of recent vintages are 95% LVR at origination, a moderate price correction combined with income shocks could push some cohorts into negative equity, even if aggregate arrears remain manageable.

Competitive chessboard: lenders, brokers, and product innovation

The broker channel now originates roughly 72% of new home loans, consolidating its gatekeeper role for FHBs. That shapes economics: customer acquisition costs are front‑loaded, clawback risks are real, and lifetime value must be proven via primary bank conversion and cross‑sell to offset skinny front‑book margins.

Competitive tactics are evolving. Unconditional cashbacks have receded after an expensive 2023 arms race, replaced by targeted fee waivers, tightly defined rebates, and rate tiers that reward digital document completeness. Professional LMI waivers remain, but HGS allocations are the scarce currency. Expect more micro‑segmented pricing (property type, postcode, verified expense profile), pre‑approved HGS slots, and retention squads focused on refinancing risk at month 22–24.

Case in point: mutuals and challenger banks like GSB punch above their weight in the FHB niche by pairing HGS participation with human‑plus‑digital advice. Major banks, meanwhile, leverage balance sheet depth and RMBS distribution to price selectively for share while protecting back‑book yield.

The tech stack behind faster approvals

Speed‑to‑yes is now a primary differentiator. Lenders using Consumer Data Right (open banking) to ingest verified transaction histories can replace blunt Household Expenditure Measure assumptions with machine‑learned expense categorisation. Optical character recognition and NLP tools triage payslips, tax returns, and rental ledgers; decision engines surface conditional approvals in hours rather than days.

Operationally, that reduces manual touch rates and abandonment, but it raises failure modes: model drift, explainability gaps, and privacy governance. Controls matter. Leading shops are building three lines of defence for AI underwriting — model risk validation, challenger models for back‑testing, and audit trails that explain declines in plain language. Onboarding is increasingly straight‑through with digital identity checks, AML screening, and property valuation APIs integrated into a single workflow.

Risk management under stress: affordability, arrears, and buffers

Regulatory settings remain tight: APRA’s 3 percentage point serviceability buffer is still in place and acts as a circuit breaker against marginal borrowers. Even so, cohort risk is rising. High LVR, single‑income reliance, and elevated non‑discretionary spend inflation can converge to push early‑vintage arrears higher than the system average. Arrears have ticked up from the lows, though remain well below GFC peaks.

Scenario maths for FHB portfolios: a 5–7% price decline, combined with flat wages and sustained higher‑for‑longer rates, could push a thin‑deposit borrower into negative equity within 18 months of settlement. Losses remain bounded if unemployment stays low and cure rates hold, but funding costs and capital consumption can still widen net interest margin compression.

Risk levers to deploy now: dynamic LVR caps by postcode, debt‑to‑income overlays above 6x, granular vintage‑cohort monitoring, proactive hardship protocols, and securitisation structures with thicker credit enhancement for high‑LVR pools.

The road ahead: strategy, execution, and the metrics that matter

For banks: double down on precision pricing and verified income‑expense analytics; treat HGS capacity as a portfolio asset to be allocated to the best risk‑adjusted segments; and link FHB onboarding to primary banking conversion within 90 days. Fund selectively, leaning on RMBS windows when spreads permit, and protect back‑book yield with data‑driven retention triggers at the first rate‑roll.

For brokers: pre‑qualify beyond rate — focus on cash‑flow resilience, buffers after settlement, and total cost of ownership. Build alliancing with lenders that offer API‑first document ingestion for faster turnarounds and lower clawback risk via improved settle‑to‑stick rates.

For fintechs: sell the picks and shovels — expense categorisation, fraud detection, valuation intelligence, and consented data orchestration that lift approval speed without inflating risk. Compliance‑by‑design is a commercial feature, not a cost centre.

KPIs to track in 2025–26: application‑to‑approval time, manual touch rate, proportion of loans with verified expenses via CDR, early‑vintage 90‑day arrears by LVR bucket, negative equity probability by postcode, CAC payback period, primary relationship conversion, and weighted average margin by cohort. If these indicators improve while share of FHB flows rises, the strategy is working.

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, proper" ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["check_access_rights"]=> int(0) ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["displayDate"]=> string(19) "2025-09-12 02:50:15" ["slug"]=> string(91) "18925:firsthome-buyers-now-anchor-australias-mortgage-growth-but-the-risk-maths-is-changing" ["event"]=> object(stdClass)#9123 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(132) "

• Yes

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Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government guarantees, lender competition, and faster digital decisioning. For banks and brokers, the upside is real — volume, sticky primary relationships, and cross‑sell. The downside is equally clear: thinner buffers, higher cohort risk, and the need for sharper pricing and portfolio controls as affordability stays stretched.

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From 1 October 2025, the expanded Home Guarantee Scheme (HGS) materially widens what first-home buyers can purchase and where. By sharply lifting price caps and relaxing eligibility settings, the government has turned a rationed incentive into a demand accelerator. The near-term effect is clear: more buyers with viable deposits, a redistribution of competition across suburbs, and new pressure points for lenders and developers. The strategic challenge is managing the demand pulse without inflating prices or amplifying fiscal and credit risk.

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The headline implication is simple but significant: by enlarging the funnel of eligible buyers and properties overnight, the HGS expansion pushes more demand into price bands that were previously out of reach. Expect a scramble among lenders to capture volume, developers to price near the new caps, and policymakers to watch for unintended spillovers—especially in tightly supplied markets.

What changed—and why it matters

The HGS is a government guarantee that lets eligible buyers purchase with low deposits (as little as 5%) without paying lenders mortgage insurance (LMI). The October expansion lifts property price caps substantially across regions and relaxes key constraints (income and place limits), with the government also accelerating the start date by three months. In effect, it turns a capped, channelled scheme into a broader demand lever.

Industry data underscores the step change. According to economist Kaytlin Ezzy at research firm Cotality, under the old settings roughly one-third of listings fell within reach for eligible buyers; with the new caps, that rises to 63.1%—51.6% of houses and 93.7% of units. “The suburban map of attainability has shifted,” Ezzy notes, pointing to dramatically wider choice across outer-metro and regional growth corridors.

In policy terms, the shift is designed to double the pool of first-home buyer prospects. Pre-expansion, the HGS had supported more than 230,000 buyers (as at July 2025) with 50,000 annual places in 2023–24. Removing place limits and raising caps moves the mechanism from rationing to scaling.

Market dynamics: price effects cluster near the caps

Price-cap policy has a known side effect: bunching around thresholds. International analogues offer cautionary signals. The UK’s Help to Buy and Canada’s first-time buyer incentives both drove outsized activity in bands just below caps, with measurable, localised price uplift. Australia is primed for a similar pattern—especially in suburbs where the new cap intersects with median prices.

Two near-term effects are likely: first, a 1–3% uplift in transacted prices within ±5% of the new caps as buyers compete for a finite pool; second, a shift in bargaining power from buyers to vendors in those bands. The Housing Industry Association has flagged a probable first-wave price rise followed by stronger building activity if supply responds. Where supply is constrained (planning delays, labour bottlenecks), the first effect will dominate; where greenfield capacity exists, the second can catch up.

Lenders’ playbook: product, pricing and risk recalibration

For banks and non-banks, the opportunity is immediate but operationally demanding:

• Product and pricing: Expect sharper risk-based pricing for 90–95% LVR loans without LMI, and a resurgence of cashback-lite acquisition strategies in priority postcodes.
• Policy and credit operations: Automated credit policy engines must be reparameterised to the new caps by suburb. Pre-approval volumes will spike; decisioning SLAs will be tested.
• Broker channel: With brokers originating the majority of mortgages, lender education and eligibility calculators specific to the new caps will be table stakes.
• Capital and risk: While the government covers the guaranteed tranche, banks still bear macro risk. APRA stress tests assume higher arrears under rate or unemployment shocks; lenders will be selective on fringe-credit profiles despite the guarantee.

Net effect: second-tier banks and agile non-banks are set to win share via speed-to-yes and granular postcode coverage, while majors leverage balance-sheet trust and distribution heft.

Developers and builders: pivot to cap-adjacent product

Developers that can deliver stock at or just below the new caps will command outsized demand. Expect packaging of house-and-land offerings, townhouses and compact apartments targeting the cap sweet spot. However, implementation reality bites:

• Input costs remain elevated and volatile; fixed-price contracts carry margin risk.
• Planning approvals and infrastructure sequencing constrain shovel-readiness in several metros.
• Build-times remain longer than pre-pandemic norms, elongating cash conversion cycles.

Strategically, the smartest developers will stage releases to match demand pulses and hedge build-cost risk, while partnering with lenders for scheme-specific pre-approvals. Regional builders in growth corridors have an opening—if supply chains and trades availability are secured early.

Fiscal and systemic risk: contingent liabilities go up

The government’s guarantee broadens its balance-sheet exposure. Contingent liabilities scale with uptake and loan performance. Australia’s mortgage arrears are low by global standards, but tail risks are non-trivial if unemployment ticks up or if a price correction follows a demand run.

Risk management priorities include:

• Prudent eligibility filters (e.g., serviceability buffers above minimums for guaranteed loans).
• Active monitoring of postcode concentration to avoid clustering losses.
• Coordination with APRA on lender reporting to track arrears and equity trajectories in HGS cohorts.

For LMI providers, displacement risk is real on HGS-eligible loans; the strategic response is deeper penetration in non-eligible segments and value-added analytics for lenders on borrower resilience.

Equity and affordability: will access gains stick?

The scheme directly improves deposit feasibility and widens choice—particularly for units and outer-metro houses. But affordability is a two-variable equation: price and income. If the demand impulse outruns supply, gains can erode via higher entry prices. The most durable outcome couples the HGS with faster planning approvals, targeted infrastructure spend and incentives for build-to-rent and infill that relieve pressure in rental markets (a critical precursor for first-home saving).

Economists are split on the long-term effect. Optimists argue the scheme lifts homeownership by bringing forward buyers who would otherwise take years to save; sceptics warn it mainly time-shifts demand and raises prices near caps. The truth will hinge on supply response in the next 12–24 months.

What business leaders should do now

• Banks and non-banks: Stand up suburb-specific cap engines, streamline HGS pre-approvals, and tighten post-settlement early warning systems for new-to-market borrowers.
• Developers and builders: Reprice and re-scope pipelines to hit cap-adjacent price points; secure trades and materials early; explore lender partnerships for coordinated launches.
• Proptech and marketplaces: Build eligibility filters and buyer education tools around new caps; surface HGS-ready listings and monthly repayment scenarios.
• Institutional investors: Track cap-banded sales velocity for signals on resale risk; consider backing developers with shorter cash cycles and controlled cost bases.
• Policy teams: Pair the scheme with supply accelerators—planning reform, serviced land release, and targeted grants for medium-density near transport.

Outlook: a 12–24 month stress test

Base case: a front-loaded lift in first-home transactions, localised price pressure around caps, and a gradual supply response in build-ready corridors. Upside: if approvals and construction capacity loosen, price pressure moderates and ownership gains persist. Downside: if supply remains sticky and macro conditions soften, the scheme could inflate entry prices and raise contingent risk without meaningfully lifting net ownership.

Either way, the expanded HGS will reshape competition across lending, development and proptech. Early movers who price and execute to the new demand map—without losing discipline on risk—stand to gain the most.

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, proper" ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["check_access_rights"]=> int(0) ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["displayDate"]=> string(19) "2025-09-10 23:10:59" ["slug"]=> string(81) "18882:home-guarantee-scheme-shake-up-challenges-australias-housing-market-players" ["event"]=> object(stdClass)#9134 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(132) "

• Yes

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From 1 October 2025, the expanded Home Guarantee Scheme (HGS) materially widens what first-home buyers can purchase and where. By sharply lifting price caps and relaxing eligibility settings, the government has turned a rationed incentive into a demand accelerator. The near-term effect is clear: more buyers with viable deposits, a redistribution of competition across suburbs, and new pressure points for lenders and developers. The strategic challenge is managing the demand pulse without inflating prices or amplifying fiscal and credit risk.

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Great Southern Bank’s latest results show that nearly one in three of its new mortgages now go to first‑home buyers—evidence of a fast‑moving market reshaped by government guarantees, easing rates and changing borrower demographics. Nationally, first‑home buyer loans grew 5.9% in 2024 to 125,220 and are projected to rise a further 6.5% in 2025. For lenders, this is not just a feel‑good story; it is a unit‑economics opportunity with strategic implications for product design, broker strategy and risk. Here’s how GSB executed—and what it means for the rest of the market.

" ["fulltext"]=> string(7086) "

Context: a demand surge meets a policy lever

Australia’s first‑home buyer (FHB) segment has re‑accelerated. In 2024, 125,220 FHB loans settled nationally (+5.9% year‑on‑year), with 2025 projected to reach 133,308 (+6.5%), outpacing broader owner‑occupier growth (projected +5.3% to 216,210). Average FHB loan size rose by about 6% in 2024, reflecting both price pressures and borrowers stretching into higher loan bands. The policy scaffolding matters: the Home Guarantee Scheme (HGS) has provided up to 50,000 places annually across its variants, enabling deposits from 2–5% without lenders mortgage insurance (LMI), effectively transferring part of the credit risk through a government guarantee.

Against this backdrop, GSB disclosed that “nearly a third” of its new lending now serves FHBs. That aligns with broader industry observations from research houses such as PropTrack and CoreLogic: affordability remains strained, but targeted support plus easing interest‑rate expectations have reopened a path for entry. Broker channel share is now north of 70%, amplifying the effect of lenders that execute well with brokers.

Decision: bet on the segment where lifetime value is rising

GSB made a strategic call to over‑index to FHBs. The business logic stacks up on three dimensions: (1) growth: FHB demand is expanding faster than the overall owner‑occupier market; (2) lifetime value: younger borrowers produce a longer annuity stream and cross‑sell potential (transaction accounts, savings, insurance), offsetting thinner initial margins; and (3) share economics: in a broker‑led market, superior process speed and HGS fluency convert directly to market share. With competition pruning unsustainable cashbacks, execution quality—not headline rate alone—has become the differentiator.

Risk was the counterweight. Low‑deposit lending is inherently higher risk. The decision therefore hinged on GSB’s ability to ring‑fence that risk with policy guarantees, robust underwriting and granular pricing. Industry analysts at Lateral Economics and others have cautioned about policy‑induced demand without matching supply; a prudent FHB strategy must therefore be as much about credit selection as acquisition volume.

Implementation: product, policy alignment and broker execution

GSB’s operating model shows four practical levers that other lenders can copy:

- Policy alignment: Maximise HGS participation (First Home Guarantee, Regional First Home Buyer Guarantee, Family Home Guarantee) to reduce effective LVR risk and waive LMI costs for eligible borrowers.

- Risk‑tiered pricing and buffers: Maintain APRA‑aligned serviceability buffers while dynamically tiering rates by LVR and borrower profile. IFRS 9 modelling enables early‑stage expected credit loss (ECL) tracking by cohort, adjusting origination appetite in near real time.

- Digital straight‑through processing: Pre‑approval engines that validate income, expenses and deposit sources digitally reduce time‑to‑yes and abandonment. For brokers, API‑driven lodgements and clear policy matrices cut rework and re‑submissions.

- Education and segmentation: Serve distinct FHB sub‑segments—dual‑income metropolitan buyers, regional buyers using the Regional Guarantee, and later‑life first‑timers (divorcees, returning migrants). Content, calculators and proactive broker support reduce uncertainty and shorten decision cycles.

Technical deep dive: why guarantees change the unit economics

The HGS alters capital and pricing maths. A government guarantee on the unsecured portion above 80% LVR mitigates loss‑given‑default, reducing overall expected loss and, for many banks, capital intensity under APRA’s mortgage risk‑weight framework. Practically, that allows lenders to price closer to prime rates than would be possible for 90–95% LVR loans with LMI, while offering customers materially lower upfront cost. The trade‑off is strict eligibility, documentation rigour and quota management across guarantee tranches. In a broker‑dominated distribution model, lenders that automate eligibility checks and evidence capture see higher conversion and lower processing cost per settled loan.

Results: volume, share and conversion effects

The headline outcome is mix: nearly one in three new GSB mortgages now originate from FHBs. At a market level, growth is robust—125,220 FHB loans in 2024 and a projected 133,308 in 2025. With the broader owner‑occupier market projected at 216,210 loans in 2025, each 1 percentage point of share equates to roughly 2,162 loans. For a challenger bank, gaining 2–3 points of FHB share through faster approvals and guarantee fluency can be the difference between flat and high‑single‑digit book growth.

Conversion is the second win. Lenders reporting sub‑10‑day FHB time‑to‑approval via digital pre‑assessment typically see materially higher broker preference. Industry feedback suggests that where HGS eligibility is assessed up‑front, approval rates increase and settlement leakage falls. Finally, portfolio quality to date has remained resilient: arrears have ticked up from historic lows industry‑wide, but guarantee‑backed LVRs and conservative serviceability buffers have contained early‑stage delinquencies, according to analysts tracking the segment.

Market implications: competition, pricing and policy risk

GSB’s pivot intensifies competition for a finite pool of HGS places. Expect tighter pricing bands around high‑LVR loans for eligible customers, while non‑eligible FHBs may face higher rates or stricter serviceability. If interest rates continue to ease, demand could overshoot available guarantees, pushing borrowers into LMI‑backed routes and re‑widening the affordability gap. Economists remain split: some view the FHB surge as a healthy stimulus; others warn of distortion without supply‑side reform.

Lessons: a playbook for lenders, brokers and policymakers

- Lenders: Treat FHBs as a designed experience. Build HGS rules into product decisioning, expose policy logic to brokers, and measure end‑to‑end cost per settled loan by cohort. Balance growth with tight ECL triggers and post‑settlement support to reduce early hardship.

- Brokers: Lead with eligibility clarity. A clean HGS application with verified income and deposit sources cuts cycle time and boosts first‑choice placement with lenders investing in this segment.

- Policymakers: Guarantees lift demand; supply still constrains affordability. Calibrate place volumes and eligibility while pressing on planning reform and build‑to‑rent to avoid overheating entry‑level stock.

- Developers: The FHB buyer is back. Stock mix that targets sub‑threshold price points, regional hubs and smaller footprints will move faster if paired with lender pipelines fluent in guarantees.

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, proper" ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["check_access_rights"]=> int(0) ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["displayDate"]=> string(19) "2025-09-08 23:50:41" ["slug"]=> string(74) "18850:gsbs-firsthome-buyer-play-turning-policy-tailwinds-into-market-share" ["event"]=> object(stdClass)#9145 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(132) "

• Yes

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Great Southern Bank’s latest results show that nearly one in three of its new mortgages now go to first‑home buyers—evidence of a fast‑moving market reshaped by government guarantees, easing rates and changing borrower demographics. Nationally, first‑home buyer loans grew 5.9% in 2024 to 125,220 and are projected to rise a further 6.5% in 2025. For lenders, this is not just a feel‑good story; it is a unit‑economics opportunity with strategic implications for product design, broker strategy and risk. Here’s how GSB executed—and what it means for the rest of the market.

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Australia’s rental market is tightening even as individual landlords sell down. New data points to a multi‑year investor retreat tied to higher holding costs and regulatory uncertainty, while prices continue to drift up on scarce supply. The result is a policy-driven risk premium that is reshaping how capital flows into housing. Early movers—from lenders to institutional build‑to‑rent operators—are repositioning to capture the gap left by traditional investors.

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Key implication: Australia’s housing market has quietly repriced for policy risk. Higher holding costs and rule changes have increased the required return for small investors, many of whom are exiting. That shrinkage in private rental supply meets population growth and construction bottlenecks—driving rents up and hardening a structural opportunity for scale players with cheaper capital and operational leverage.

The numbers behind the turn

Industry data collated by the Property Investment Professionals of Australia (PIPA) indicate a decisive shift: more than 7,000 individual investors exited in 2022–23—by their reckoning the weakest intake in roughly a quarter‑century outside major crises—and their 2024 survey reports 14.1% of investors sold at least one property in the past year. On the demand side, economists point to price resilience supported by constrained listings, population growth and the prospect of easier monetary policy in 2025. Vacancy rates remain around 1% nationally and below that in several capitals, a configuration consistent with continued rental inflation.

The paradox is stark but explainable. Supply is structurally constrained by planning and build cost inflation; approvals and commencements are well below the levels required to meet stated housing targets. Investor withdrawals reduce rental stock at precisely the wrong time. As one senior market economist recently noted in public commentary, lower rates will lift borrowing capacity before new supply can respond—pulling prices up even as investors hesitate.

Policy, regulation and the new cost stack

A PESTLE view clarifies the drivers:

• Political/legal: Ongoing debate about changes to negative gearing and the capital gains tax (CGT) discount, frequent tenancy law revisions (minimum standards, maintenance obligations, pets, eviction processes), and state land tax recalibrations have increased perceived rule volatility.
• Economic: Higher interest costs, insurance premiums, strata levies and compliance outlays have lifted the carry cost. For leveraged investors, the breakeven rent has moved materially.
• Social: Population growth and household formation are colliding with tight vacancy rates. Political pressure to protect tenants has increased, adding policy asymmetry to the risk calculus.
• Technological/operational: Digital compliance, energy‑efficiency upgrades and property standards require capex and operational sophistication that advantage institutional managers.

Layer in credit settings—APRA’s 3 percentage point serviceability buffer remains a hurdle for refinancing—and you get a higher effective hurdle rate for small landlords. Many are unwilling or unable to bridge that gap.

Competitive dynamics: who wins the retreat?

As private investors step back, competition intensifies elsewhere:

• Lenders: Banks are vying for high‑quality borrowers with sharper fixed‑rate pricing and targeted investor packages. Non‑banks and specialist lenders are courting professional landlords with interest‑only terms and portfolio facilities. For brokers, the advisory opportunity is shifting from pure rate to capital structure and cash flow optimisation.
• Institutional capital: Build‑to‑rent (BTR) is scaling. Super funds, global managers and local developers are committing to multi‑asset pipelines. While BTR remains a small slice of total stock, its professionalised operations, longer leases and amenity‑led offering make it attractive for tenants and capital alike—particularly if policy support (e.g., land tax or planning incentives) endures.
• Developers and REITs: Those able to forward‑fund with institutional equity or government‑backed programs can keep shovels in the ground despite higher debt costs. Mid‑tier developers reliant on pre‑sales face tougher absorption and funding tests.

The strategic read: scale, access to low‑cost capital, and regulatory fluency are now durable advantages.

Operational reality: playbooks that work now

For business leaders, the “how” matters as much as the “why”.

• Landlords and asset managers: Stress‑test portfolios at higher vacancy and capex assumptions; explore debt mix optimisation (split loans, targeted fixed‑rate tenors, interest‑only with principal sweeps) and active rent‑roll management. Consider professional management to lift net operating income via cost control and amenity upgrades.
• Lenders and brokers: Segment investor cohorts by risk and intent (accumulators, consolidators, retirees). Design retention offers around cash‑flow relief and refinancing friction (serviceability workarounds within prudential guardrails). Product innovation around green retrofits and value‑add capex can lock in higher‑quality collateral.
• Developers: Hedge build‑cost inflation pre‑tender; pursue BTR or mixed‑tenure models to diversify exit risk. Partner early with councils on planning to secure density bonuses and faster approvals.
• Corporate employers: Housing affordability is now a talent variable. Consider housing partnerships or location strategy to protect workforce availability in tight rental corridors.

Market signals: what’s noisy, what’s real

Not all markets move together. Agents report intense competition for rental stock and rising prices in Perth and Adelaide, while parts of Hobart and regional pockets show higher listings and softer absorption. These mixed signals are typical late‑cycle features: scarcity premiums in high‑growth nodes, rebalancing where prior investor activity was elevated. For strategy, that means tightening geographic focus and underwriting assumptions suburb‑by‑suburb, not city‑by‑city.

Policy choices that could reset confidence

Predictability is the currency of long‑term capital. Governments looking to stabilise rental supply can reduce the policy risk premium without large fiscal outlays:

• Set a multi‑year tax and tenancy roadmap that commits to no retrospective changes and staged transitions for any reform to negative gearing, CGT or land tax.
• Targeted incentives such as accelerated depreciation for energy upgrades, or land tax credits for newly created rental stock, can nudge supply where it’s most needed.
• Planning acceleration through code‑assessed medium‑density and build‑to‑rent overlays can lift approvals and shorten delivery timelines.

Absent a clearer policy line‑of‑sight, the investor base will remain shallow and rents will bear the brunt.

Outlook: scenarios for the next 12–24 months

Base case: Inflation cools gradually; the RBA signals some easing in 2025. Borrowing capacity improves ahead of new supply, keeping price growth positive in most capitals. With vacancies tight, advertised rents rise in mid‑single digits nationally, higher in the tightest markets.

Upside: A credible multi‑year reform roadmap and selective incentives coax investors back; approvals lift, BTR accelerates, and rent growth moderates by late 2025.

Downside: Sticky inflation delays rate cuts; construction insolvencies persist; more small landlords exit on cash‑flow strain. Rent inflation stays elevated and affordability deteriorates, amplifying political and wage‑pressure risks.

The strategic takeaway: treat policy risk as a cost of capital input, not a headline. Organisations that price it correctly—and design for it—will out‑execute in a market where scarcity and volatility are now features, not bugs.

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, proper" ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["check_access_rights"]=> int(0) ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["displayDate"]=> string(19) "2025-09-08 23:20:21" ["slug"]=> string(105) "18828:investor-exodus-meets-rental-scarcity-the-policy-risk-premium-now-driving-australias-housing-market" ["event"]=> object(stdClass)#9156 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(132) "

• Yes

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Australia’s rental market is tightening even as individual landlords sell down. New data points to a multi‑year investor retreat tied to higher holding costs and regulatory uncertainty, while prices continue to drift up on scarce supply. The result is a policy-driven risk premium that is reshaping how capital flows into housing. Early movers—from lenders to institutional build‑to‑rent operators—are repositioning to capture the gap left by traditional investors.

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Can a bigger government guarantee fix housing access without fuelling prices? Australia is about to find out. The Albanese government’s expanded 5% deposit pathway aims to help 70,000 buyers, remove income caps, and accelerate take‑up by bringing the start date forward to October 2025. This case study unpacks the strategic implications for lenders, developers, insurers and policymakers—what will shift, who gains, and where the risks sit.

" ["fulltext"]=> string(8697) "

A market straining under access and supply pressure

First-home buyer demand has been resilient despite higher rates. In 2024, first-home buyer (FHB) loans reached an estimated 125,220 nationally, up 5.9% year on year, with Victoria leading at roughly an 11% lift. Affordability remains stretched, saving horizons are long, and construction pipelines are uneven. In that environment, the Commonwealth has doubled down on demand-side assistance by expanding the First Home Guarantee (FHG)—the 5% deposit pathway administered by the National Housing Finance and Investment Corporation (NHFIC). The move mirrors a broader global pattern: when affordability bites, governments step in with credit guarantees, equity loans or duty relief.

The policy trade-off is well rehearsed. Guarantees can reduce deposit hurdles and cut lender’s mortgage insurance (LMI) costs, speeding up access. But under persistent supply constraints, more purchasing power risks lifting prices and increasing leverage at the entry point. That tension sits at the heart of Australia’s latest redesign.

A larger, earlier, looser guarantee

The expansion makes four material shifts:

• Scale: Target capacity of up to 70,000 places, signalling a materially larger intake pipeline for lenders and brokers.
• Deposit: Borrowers can purchase with a 5% deposit without paying LMI, with the Commonwealth acting as guarantor to the lender for the portion above 80% loan‑to‑value ratio (LVR) and up to 95% LVR.
• Eligibility: Removal of income caps and higher property price thresholds broaden the addressable market.
• Timing: Brought forward to commence in October 2025, pulling forward demand and forcing operational readiness across the lending ecosystem.

Industry reactions diverge. Property bodies welcome expanded access, while economists warn of price impacts if supply fails to keep pace. Treasury’s own modelling points to a modest national price effect—around 0.5% over six years—while independent research from Lateral Economics suggests the scheme could add 20,600–39,100 buyers annually, roughly 3.8%–7.1% of home sales, intensifying competition at the lower price points.

How the guarantee changes lender economics and operations

Credit and capital: High-LVR lending typically attracts higher capital charges under prudential standards. The government guarantee is a credit enhancement, changing expected loss dynamics relative to uninsured high-LVR loans. Banks will still manage concentration risk by segment, geography and borrower profile, but the guarantee can improve risk-adjusted return on equity (ROE) if priced correctly.

Pricing and product design: Expect sharper, risk-based mortgage pricing with fewer LMI-linked price tiers. Lenders that can granularly price by LVR bands, postcode risk and borrower resilience (e.g., dual-income, non-discretionary sectors) will capture share. Removing income caps widens the credit spectrum, increasing the importance of affordability buffers and income variability testing.

Distribution: Brokers originate the majority of Australian mortgages; aggregator channels will be crucial. Early movers with streamlined NHFIC workflows, instant eligibility checks and pre-approval SLAs measured in hours (not days) will outcompete. Integrating open banking for deposit verification and living-expense analytics will reduce abandonment and fraud risk.

Operations and risk: The operational shift is non-trivial—loan origination systems must ingest guarantee eligibility flags, automate certificate capture, and adjust downstream collections and hardship pathways given the sovereign guarantee structure. Stress testing needs to focus on negative equity risk bands (90%–95% LVR) under price shocks and regional downturns.

Adjacent industries: LMI providers face tighter volumes in the scheme segment as premiums are effectively displaced. Developers may see stronger inquiry for entry-level stock; the risk is price uplift without a commensurate rise in commencements. Proptechs enabling pre-qualification and valuation intelligence can become critical nodes in the new flow.

What the numbers and models imply

With commencement slated for October 2025, hard outcomes are ahead. Yet modelled and market-proxy data provide directional insight.

• Demand uplift: Lateral Economics projects an additional 20,600–39,100 buyers per year (3.8%–7.1% of sales). For lenders, even a mid-range uplift could justify dedicated guarantee teams and marketing budgets aimed at the 5% deposit cohort.
• Price effects: Treasury modelling implies a 0.5% national price increase spread over six years. Independent economists suggest the impact could be larger in constrained sub-markets—particularly if interest rates ease through 2025–26—concentrating competitive bidding in entry-level stock.
• Access impact: The policy aims to deliver up to 70,000 additional homeowners. In a market that recorded around 125,220 FHB loans in 2024, that is material throughput, with the largest relative gains likely in states where price caps align to median entry stock.
• Lender share shifts: Banks with early certification readiness, broker education and rapid pre-approvals could gain 100–200 bps of share in the FHB segment within the first year, based on typical share movements observed in prior policy windows.
• Downside risk: High-LVR borrowers are more exposed to valuation volatility. In a downturn, negative equity combined with income shocks elevates arrears risk—though the guarantee reduces lender loss severity relative to uninsured equivalents.

What global schemes teach

United Kingdom: Help to Buy boosted transactions and supported developers, but contributed to price uplift in new-build segments and introduced cliff-edge effects when eligibility changed.

New Zealand: First Home Loan guarantees broadened access but faced regional price pressures, underscoring the need to coordinate demand-side support with supply measures, planning reform and delivery capacity.

The through-line: guarantees work best when synced with supply acceleration, stable eligibility settings, and clear exit pathways for borrowers to refinance into lower LVR brackets.

Playbook for business leaders

For lenders: Build a dedicated guarantee channel with three pillars—(1) eligibility tech and broker tooling, (2) risk-based pricing at high LVRs with robust serviceability floors, and (3) early-warning systems for post-settlement stress. Tie every guaranteed loan to a two-year refinance plan targeting sub‑80% LVR via offset discipline and principal curtailment.

For developers and builders: Recalibrate product mix toward compact, energy‑efficient entry stock in suburbs where scheme price caps intersect with buyer demand. Use shared-data partnerships with lenders to forecast pipeline absorption and avoid over-concentration risk.

For insurers: LMI portfolios will compress in the guarantee cohort—pivot to value-add services (hardship analytics, recoveries optimisation) for lenders and deepen coverage in non-scheme, investor, and self‑employed niches.

For policymakers: Anchor demand-side support to supply-side acceleration—fast-track approvals, enable medium-density uplift near transport, and stabilise scheme settings to reduce policy whiplash. Transparently report arrears, negative equity incidence, and regional price effects to maintain credibility and calibrate risk exposure for taxpayers.

For proptechs and data providers: Build eligibility and valuation APIs tailored to the guarantee rules, offer real-time scheme capacity indicators, and integrate affordability nudges that help borrowers manage buffers after settlement.

Strategic bottom line: The expanded 5% deposit pathway will reshape competition at the entry level of the market. Early operational excellence—not marketing noise—will determine who wins share. The guarantee lowers the deposit barrier; it does not remove the cycle. Businesses that couple access with prudence will be the durable winners.

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• Yes

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Can a bigger government guarantee fix housing access without fuelling prices? Australia is about to find out. The Albanese government’s expanded 5% deposit pathway aims to help 70,000 buyers, remove income caps, and accelerate take‑up by bringing the start date forward to October 2025. This case study unpacks the strategic implications for lenders, developers, insurers and policymakers—what will shift, who gains, and where the risks sit.

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string(0) "" } [4]=> object(stdClass)#9194 (33) { ["id"]=> int(4) ["title"]=> string(9) "Video URL" ["name"]=> string(9) "video-url" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-06-19 05:54:21" ["created_user_id"]=> int(2351) ["ordering"]=> int(1) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#8823 (3) { ["data":protected]=> object(stdClass)#8821 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#8822 (3) { ["data":protected]=> object(stdClass)#8850 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" 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object(stdClass)#8857 (2) { ["options0"]=> object(stdClass)#8856 (2) { ["name"]=> string(8) "Inactive" ["value"]=> string(1) "0" } ["options1"]=> object(stdClass)#8858 (2) { ["name"]=> string(6) "Active" ["value"]=> string(1) "1" } } } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#8853 (3) { ["data":protected]=> object(stdClass)#8861 (10) { ["hint"]=> string(0) "" ["class"]=> string(9) "btn-group" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(2) ["label"]=> string(6) "Status" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [5]=> object(stdClass)#9099 (33) { ["id"]=> int(5) ["title"]=> string(22) " Essential information" ["name"]=> string(21) "essential-information" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-06-25 06:10:20" ["created_user_id"]=> int(2351) ["ordering"]=> int(4) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#8855 (3) { ["data":protected]=> object(stdClass)#8863 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" 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"Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [2]=> object(stdClass)#9202 (33) { ["id"]=> int(2) ["title"]=> string(14) "Embedded Video" ["name"]=> string(14) "embedded-video" ["checked_out"]=> NULL ["checked_out_time"]=> NULL ["note"]=> string(0) "" ["state"]=> int(1) ["access"]=> int(1) ["created_time"]=> string(19) "2020-06-20 01:43:32" ["created_user_id"]=> int(2351) ["ordering"]=> int(5) ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#8862 (3) { ["data":protected]=> object(stdClass)#8867 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#8864 (3) { ["data":protected]=> object(stdClass)#8869 (10) { ["hint"]=> string(29) "Paste your embedded code here" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator":protected]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> int(2) ["label"]=> string(14) "Embedded Video" ["description"]=> string(0) "" ["required"]=> int(0) ["only_use_in_subform"]=> int(0) ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> int(1) ["group_state"]=> int(1) ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } } ["link"]=> string(123) "/invest-money/property/case-study-australias-5-deposit-guarantee-access-gains-risk-trade-offs-and-the-race-for-market-share" ["image"]=> string(113) "https://res.cloudinary.com/momentum-media-group-pty-ltd/image/upload/v1757359969/pexels-kampus-8730048_aagrbc.jpg" ["image_alt"]=> string(96) "Australia's 5% deposit guarantee: Unlocking gains while balancing risks in the market share race" } }