Accessing your superannuation to purchase a property is possible under the First Home Super Saver (FHSS) scheme, and as of December 2025, the rules allow eligible individuals to release a maximum of $50,000, plus any associated earnings, to contribute towards a deposit.
Currently in Melbourne, and particularly within the Eastern Suburbs where Fletchers operates, we’re seeing many first-time buyers exploring this option. The process involves applying to the Australian Taxation Office (ATO) to release these funds. It’s important to realise that utilising the FHSS scheme doesn’t exempt you from standard loan application requirements; lenders will still assess your borrowing capacity and credit history. In 2026, prospective buyers should factor in that the scheme’s benefits are often combined with other incentives like the First Home Owner Grant. Melbourne property preparation costs, such as styling (typically $2,000-$8,000) and professional photography ($500-$1,500), remain consistent regardless of how the deposit is sourced. The typical sales campaign duration in areas like Balwyn and Doncaster is 4-6 weeks, meaning buyers need to be prepared to act quickly. We emphasise that while the FHSS can assist with a deposit, a comprehensive financial plan is crucial.
The FHSS scheme provides a pathway for eligible first home buyers to supplement their savings, but it’s one component of a broader financial strategy when entering the Melbourne property market.