Cheaper Homes Jump in Price After Five Percent Deposit Guarantee Takes Effect

Prospective buyers attend a property auction in Sydney, Australia, on May 8, 2021. Lisa Maree Williams/Getty ImagesThe federal government’s signature housing policy appears to have triggered a divergence in the market, making lower-priced houses less affordable for first homebuyers.Prime Minister Anthony Albanese won re-election after campaigning on a five percent deposit guarantee, implementing the policy on Oct. 1.