Flourish South Maclean Eligible Under 5% Deposit Scheme

1 October 2025 marks a powerful new chapter for first home buyers, with the Australian Government officially launching its expanded 5% Deposit Scheme.

This policy makes it easier than ever to enter the property market, and right here at Flourish, South Maclean you will find a boutique community designed for quality living, strong connection, and natural beauty. There’s never been a better time to start your journey toward home ownership.

Eligible buyers can now purchase their first home with just a 5% deposit and avoid the added cost of Lenders Mortgage Insurance (LMI), a significant fee typically charged by lenders when a borrower has less than a 20% deposit. LMI generally costs between 1% and 5% of the loan amount, depending on factors such as the size of the deposit, the property’s value, and the lender’s risk policies. With the median home price in Australia now at $844,000, LMI could add up to $42,200 to the total cost of a loan, a major barrier for many first-time buyers.

By eliminating this cost and reducing the deposit required, the Government’s new scheme removes a key financial hurdle, helping more Australians enter the housing market sooner, with greater confidence and improved financial security. 

“5 per cent deposits for all first home buyers will mean people can get into their own home sooner,” - Minister for Housing Clare O’Neil. 

What this means for first home buyers: 

• No income caps or limit on applicants for the scheme 

• No LMI, saving upfront costs when you purchase your first home at Flourish South Maclean 

• Increased property price caps of up to $1 million for Brisbane and surrounding regional centres, including Logan

• Access through a broader range of lenders, including regional and community banks 

For many aspiring homeowners, the path to buying a first home has felt increasingly out of reach. This initiative changes that, putting home ownership back on the table and making it possible to live the life you’ve been planning for. 

Here’s a quick overview of what you’ll need to qualify: 

• You must be a first home buyer, or haven’t owned any residential, commercial or investment property in the last 10 years 

• Be aged 18 or over 

• Be an Australian citizen or permanent resident 

• Plan to live in the property, investment purchases aren’t included 

• Have saved a minimum 5% deposit 

• Be buying a new or existing residential property, including a house, townhouse, apartment, or house-and-land package 

To find out more about eligibility requirements, and explore additional support options for single parents and legal guardians, visit firsthomebuyers.gov.au. 

Why Flourish Is the Ideal First Step 

Nestled in South Maclean within Logan’s fast-growing corridor, Flourish is a boutique community where quality, nature, and convenience combine. With Brisbane just 40 minutes away and the Gold Coast just over an hour, it’s perfectly placed for future growth and daily ease. 

At Flourish, you’ll enjoy 

• A masterplanned, close-knit community with boutique appeal 

• Land and house & land packages from Queensland’s leading builders 

• Easy access to local schools, shops, dining, medical centres, and parks 

• A home located within the Flagstone Priority Development Area, ensuring long-term investment potential 

• A future-focused lifestyle, with new amenities including a childcare centre and park already planned for the community 

Flourish is designed to help you grow your way, from building your dream home to creating lasting connections in a place you’re proud to call your own. 

To learn more about Flourish South Maclean, enquire today on our website, or email flourish@cedarwoods.com.au.