For first-time home buyers across the UK and Australia, October 2025 brought a flurry of government proposals and expanded schemes promising to shake up the property market. The measures, announced in both countries within days of each other, aim to tackle the perennial hurdles of high deposits, lengthy transactions, and failed deals—though not without critics warning of unintended consequences and persistent affordability woes.
In the UK, the government unveiled sweeping reforms on October 5, 2025, to overhaul the house-buying process. The plan, as reported by BBC News and The Guardian, is designed to cut costs for buyers, reduce delays, and halve the number of failed sales—an issue that currently costs the UK economy an estimated £1.5 billion annually. Central to the proposal is a legal requirement for sellers and estate agents to provide key property information upfront, including the home’s condition, leasehold costs, and details of property chains. The government estimates these changes could save first-time buyers an average of £710 and shave four weeks off the typical six-month property transaction time.
"You know what you're getting, you don't have this thing that every time, for example, there is a new buyer because the transaction failed and you need to do another survey," said Housing Minister Miatta Fahnbulleh on BBC Breakfast, highlighting the benefit of upfront information. The reforms draw heavily on the Scottish system, where sellers already provide a "home report" before listing, and binding contracts are struck earlier in the process—making for a quicker, less fraught experience.
But the reforms are not without their caveats. Sellers at the end of a property chain may face increased initial costs of £310, though those in the middle could see a net saving of £400 as reduced buying expenses offset higher selling costs. The proposals also include the option of binding contracts for buyers and sellers, with the aim of halving failed transactions. Anyone breaking the contract could face fines, though the details are still under consultation. Housing Secretary Steve Reed emphasized, "Buying a home should be a dream, not a nightmare. Our reforms will fix the broken system so hardworking people can focus on the next chapter of their lives."
Alongside these changes, the government announced a new mandatory Code of Practice for estate agents and conveyancers, as well as side-by-side performance data to help buyers select trusted professionals. Details of the reforms are expected to be published in early 2026, as part of a broader housing strategy that includes a pledge to build 1.5 million new homes.
The proposals have drawn both praise and skepticism. Kirstie Allsopp, presenter of Channel 4’s Location, Location, Location, told BBC Radio 4 she was "really glad the government has grasped this nettle," but stressed that both buyers and sellers walk away from deals, causing transactions to fall through. Babek Ismayil, CEO of homebuying platform OneDome, warned, "There's a risk of unintended consequences: requiring sellers and agents to gather more upfront information could delay properties coming onto the market. In a market where boosting supply is critical, any added friction must be carefully managed to avoid slowing things down."
In a parallel move, the Conservative Party used its conference in Manchester to propose a £5,000 tax rebate for young first-time buyers who secure their first full-time job. Shadow chancellor Mel Stride described the "first-job bonus" as a way to "reward work" and help young people get on the housing ladder. Under the plan, the first £5,000 of National Insurance payments would be diverted into a long-term savings account, accessible for a home purchase or after five years. For working couples, the bonus could total £10,000. The scheme is projected to help 600,000 people and would be funded by £2.8 billion in spending cuts over five years. As The Sun noted, however, the proposal remains just that—a proposal, not yet government policy.
Meanwhile, on the other side of the world, the Australian federal government expanded its own scheme for first home buyers starting October 1, 2025. As Murray Bridge News reported, eligible buyers can now purchase a home with just a five percent deposit, while single parents and legal guardians can do so with only two percent. The government acts as a guarantor over part of the loan, allowing buyers to avoid lender’s mortgage insurance and enter the market sooner. The scheme, which replaces previous first home guarantee programs, removes income limits and raises property price caps to reflect the growth in the housing market—though in the Murraylands region, the cap is set at $500,000.
Senator for South Australia Marielle Smith said, "We want to help young people and first home buyers achieve the dream of home ownership sooner." Housing and Homelessness Minister Clare O’Neil echoed this, stating, "The government is stepping up to level the playing field and back a new generation of first home buyers into the housing market." Since the scheme’s inception, more than 523 locals in the Barker electorate have bought homes through it.
But soaring prices threaten to undermine the scheme’s reach. The median price of houses sold in Murray Bridge between October 2024 and September 2025 was $530,000—a 16.5% jump from the previous year and above the scheme’s eligibility cap. At the time of reporting, only five homes in Murray Bridge were listed for under $500,000, with a handful of vacant land parcels also available. The Real Estate Institute of South Australia reported a 3.14% increase in median house prices in the June 2025 quarter alone, and flagged that low supply and rising demand could push prices even higher as more buyers enter the market under the expanded scheme.
The tension between government support and market realities is nothing new. In both the UK and Australia, critics warn that well-intentioned policies may inadvertently fuel further price rises or create new bottlenecks. Previous UK attempts at mandating upfront information—like the ill-fated Home Information Packs—were scrapped after complaints they discouraged sellers and slowed the market. In Australia, the Real Estate Institute cautioned that expanding deposit schemes could intensify competition for a limited pool of affordable homes, driving up prices and leaving some buyers no better off.
Still, for many aspiring homeowners, the latest reforms and proposals offer a glimmer of hope in markets where deposits, delays, and failed deals have long been stumbling blocks. As governments on both continents grapple with the complexities of housing affordability, the coming months will reveal whether these new measures can truly deliver on their promise—or if, once again, the dream of home ownership will remain just out of reach for many.
