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2026 is the ideal year to build your future home in Victoria.
First Home Guarantee expansion
For many first homebuyers, saving a deposit feels like the hardest part of the journey. The good news? That hurdle just got a whole lot smaller. The Federal Government has announced it will bring forward its expanded First Home Guarantee by three months, now set to begin this October. What does that mean if you’re dreaming of a place of your own? A smaller deposit, reduced costs and your own home sooner.
Under the Guarantee, first homebuyers can purchase with just 5% deposit. On a $700,000 home, that’s $35,000 compared to $140,000 for a 20% deposit. You’ll also escape the hefty cost of Lenders’ Mortgage Insurance (LMI), which usually requires a 20% deposit to avoid. That’s a potential saving of tens of thousands of dollars – money that could go towards furnishing your home, landscaping or simply making the move easier.
Ranin Mendis, Managing Director of Ello Lending Co, comments, “The scheme helps first home buyers get off the sidelines sooner by reducing the years it takes to save, while avoiding the full cost of traditional pathways.”
Changes to the First Homebuyer Guarantee and what they mean for you
A major change is the removal of income caps, which means more people can now access the scheme. Additionally, property price caps have increased to $950,000 in Melbourne. Mendis explains that “raising these caps broadens eligibility to more properties in growth corridors, which is critical for buyers who were previously priced out despite solid incomes.”
Cutting down the time it takes to save a deposit could also save you thousands in rent. Treasury figures show it takes around nine years to save a 20% deposit* on a $700,000 property. With just 5% deposit*, it could take just two years, potentially saving you around $171,500 in rent**.
At YourLand, we understand that buying a home can be equal parts exciting and overwhelming. Our communities across Melbourne are designed with first homebuyers in mind, offering great locations, thoughtful design and homes that balance affordability with lifestyle. With the Guarantee now within reach for more buyers, your path to ownership could be closer – and more affordable – than you think.
If you’d like more information on finance, reach out to YourLand’s mortgage broking service, Ello Lending Co. Specialists in off-the-plan loans, with access to competitive rates, their personalised service makes it easy to find the perfect loan for your needs.
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*Assuming a first home buyer with an average annual income of $100,000 who saves 15% of their income every year. This is consistent with the assumptions used in the CoreLogic Housing Affordability Report in November 2024. **Estimated by multiplying national house gross rental yield of 3.5% (as reported in Cotality’s Home Value Index release of 1 July 2025) by the value of the property.
Source: Treasury
Construction update: August 2025
As works continue to progress, we are happy to provide an update from the construction team onsite at Marran Run.
Civil works for Stage 2A are advancing well:
- Water and drainage infrastructure is now completed, and kerbs fully installed.
- Upcoming works on Stage 2A include electrical and internet connections install, as well as footpaths.
- Titles in October – December this year are still tracking to schedule.
Marran Run moves ahead: Construction now underway in Stage 2A
Exciting progress is unfolding at Marran Run in Thomastown, with construction now underway on Stage 2A. This marks a significant step in bringing more of the lifestyle-rich community to life.
Nestled in a peaceful, established northern suburb of Melbourne, Marran Run offers a rare opportunity to build a brand new, low-maintenance home in a sought-after neighbourhood.
Civil works for Stage 2A are advancing well, with sewer, water, and drainage infrastructure currently being installed. Roadworks will soon follow, preparing for more future residents to call Marran Run home.
Marran Run is designed for a connected and active lifestyle. Whittlesea Public Gardens are right next door, providing an easy escape with adventure playground, walking trails, BBQ facilities, and sporting facilities. A new bike path is also under construction, directly linking to the Galada Tamboore Pathway, which supports a broader vision for sustainable and active travel choices.
Everyday essentials are also within easy reach, offering peace of mind. Schools, shopping centres, medical services, and Thomastown Station are all just minutes away, providing a level of convenience that is hard to match.
At YourLand, the belief is that great communities should be ready for life from the very beginning. Every detail at Marran Run has been carefully planned to foster a strong connection to nature, to neighbours, and to the everyday moments that make a place feel like home.
With construction progressing and more milestones ahead, Marran Run is confidently moving into its next chapter and looks forward to welcoming more new residents to this vibrant address in the heart of Thomastown.
