The government’s 5% deposit scheme for first home buyers has enabled the purchase of nearly 1,500 properties that were turned into investments, new data shows. Housing Australia, which runs the program, provided the data in response to a Senate estimates question on notice in June. From its launch in 2020 until May 2026, the scheme released 1,485 homes because they were converted into investment properties, the agency said. Barbara Pocock, the Greens’ housing spokesperson, said the scheme was supposed to help first home buyers on lower incomes to get a roof over their heads. A spokesperson said Housing Australia monitored rental listings, property datasets, participants’ transaction activity and changes to addresses to ensure properties remained owner-occupied.