Buying your first home is an exciting milestone, but saving for a substantial deposit can often feel like the biggest hurdle. The good news for aspiring homeowners in Hobart is that recent changes to the Australian Government’s First Home Guarantee (FHG) could be your golden ticket to entering the property market sooner.<\/p>\n\n\n\n
At Northern Suburbs Realty, we stay on top of the policies that matter to you. Let’s break down what these changes mean and spotlight the suburbs in Hobart\u2019s northern corridor where demand is set to heat up.<\/p>\n\n\n\n
The First Home Guarantee<\/strong> is a federal government initiative designed to help eligible first-home buyers purchase a property with a deposit as low as 5%, without needing to pay for expensive Lenders’ Mortgage Insurance (LMI).<\/p>\n\n\n\n Traditionally, lenders require a 20% deposit to avoid LMI. Under the Guarantee, the government effectively “guarantees” up to 15% of the loan, giving lenders the security they need and buyers a much faster path to ownership.<\/p>\n\n\n\n The scheme has now been expanded, opening the door for more individuals, including those who have owned a property in the past but have been out of the market for at least 10 years.<\/p>\n\n\n\n These adjustments are game-changers, making homeownership more accessible for thousands of Tasmanians.<\/p>\n\n\n\n With a price cap of $600,000, savvy first-home buyers are turning their attention to Hobart\u2019s northern suburbs, which offer a fantastic blend of affordability, community, and growth potential. Based on current market trends, we see demand surging in these key areas:<\/p>\n\n\n\n A perennial favourite, Glenorchy offers a vibrant mix of shops, parks, and essential services. Its diverse housing stock, from classic weatherboard homes to modern units, provides plenty of options well within the FHG price cap. Its connectivity to the city centre makes it a practical and popular choice.<\/p>\n\n\n\n Fast becoming one of Hobart\u2019s trendiest postcodes, Moonah is buzzing with new cafes, restaurants, and shops. It offers a unique urban-suburban feel and is perfect for buyers looking for a community with character and a short commute to the CBD.<\/p>\n\n\n\n For those seeking more space and stunning water views of the River Derwent, Claremont and Austins Ferry are prime contenders. These suburbs provide a family-friendly atmosphere with great local schools and recreational facilities, representing excellent value for money.<\/p>\n\n\n\n Offering some of the most affordable entry points into the Hobart market, these suburbs are ideal for first-home buyers looking to maximize their budget. With significant ongoing investment in local infrastructure, they represent a smart long-term investment.<\/p>\n\n\n\n
\n\n\n\nKey Changes You Need to Know<\/h2>\n\n\n\n
\n
\n \n
\n \n Property price caps from 1 October 2025<\/th>\n Current property price cap<\/th>\n Property price cap from 1 October ’25<\/th>\n <\/tr>\n <\/thead>\n \n NSW – capital city\/regional centre<\/td>\n $900,000<\/td>\n $1,500,000<\/td>\n <\/tr>\n \n NSW – other<\/td>\n $750,000<\/td>\n $800,000<\/td>\n <\/tr>\n \n VIC – capital city\/regional centre<\/td>\n $800,000<\/td>\n $950,000<\/td>\n <\/tr>\n \n VIC – other<\/td>\n $650,000<\/td>\n $650,000<\/td>\n <\/tr>\n \n QLD – capital city\/regional centre<\/td>\n $700,000<\/td>\n $1,000,000<\/td>\n <\/tr>\n \n QLD – other<\/td>\n $550,000<\/td>\n $700,000<\/td>\n <\/tr>\n \n WA – capital city<\/td>\n $600,000<\/td>\n $850,000<\/td>\n <\/tr>\n \n WA – other<\/td>\n $450,000<\/td>\n $600,000<\/td>\n <\/tr>\n \n SA – capital city<\/td>\n $600,000<\/td>\n $900,000<\/td>\n <\/tr>\n \n SA – other<\/td>\n $450,000<\/td>\n $500,000<\/td>\n <\/tr>\n \n TAS – capital city<\/td>\n $600,000<\/td>\n $700,000<\/td>\n <\/tr>\n \n TAS – other<\/td>\n $450,000<\/td>\n $550,000<\/td>\n <\/tr>\n \n ACT<\/td>\n $750,000<\/td>\n $1,000,000<\/td>\n <\/tr>\n \n NT<\/td>\n $600,000<\/td>\n $600,000<\/td>\n <\/tr>\n <\/tbody>\n<\/table>\n\n\n\n
\n\n\n\nWhere is Demand Surging in Hobart’s Northern Suburbs?<\/h2>\n\n\n\n
1. Glenorchy<\/strong><\/h4>\n\n\n\n
2. Moonah<\/strong><\/h4>\n\n\n\n
3. Claremont & Austins Ferry<\/strong><\/h4>\n\n\n\n
4. Bridgewater & Gagebrook<\/strong><\/h4>\n\n\n\n
\n\n\n\nHow to Seize This Opportunity<\/h3>\n\n\n\n