Speaking at the launch of his recent tax discussion paper, Mr Hockey said: "Prime Minister Tony Abbott and myself – all the government – are concerned for first-home buyers in particular who are finding it increasingly difficult to get into the home market and home ownership."

In Sydney property prices are increasing at such a rate that it seems no sooner does a first-home buyer save their deposit than the pricing goal posts shift. In the first three months of this year alone property prices increased almost 6 per cent, according to CoreLogic RP Data.

And the proportion of home loans to first-home buyers is shrinking. According to Domain Group data for December, just 10 per cent of loans went to first-home buyers.

However, there are still some entry points to the market that remain favourable to first-home buyers. In the south-west suburb of Bankstown, all the apartments in a new development, Mosaic, are priced under the threshold of the first-home buyers' grant.

The scheme grants $15,000 to eligible first-home owners to assist in buying a newly built or off-the-plan home valued up to $750,000.

Selling agent for the boutique Bankstown complex, Sam Elbanna of CPM Realty, says Mosaic is perfect for first-home buyers. "It's a boutique development of only 33 apartments and they all qualify for the first-home owners grant," says Elbanna. One-bedroom apartments at Mosaic start at $449,000.

Mosaic is being marketed to young aspirational buyers looking for inner-city "cool."

"The finishes include polished-timber floors, timber-veneer kitchens with stone benches, Smeg appliances, air-conditioning and a cutting-edge design," Elbanna says.

Across the road is the new entertainment hub of the south-west, Little Saigon Plaza. Mosaic is an easy walk from the station where trains run to the city every 15 minutes.

Five train stops closer to the city at Campsie, the majority of apartments offered in the latest, and second-last release of apartments at Clemton Park Village are priced under threshold of the first-home owner's grant.

Australand NSW residential division general manager Nigel Edgar says almost all of the 45 apartments were designed and priced for first-home buyers. "Together with historically low interest rates, this presents a perhaps never-to-be-repeated opportunity to buy a brand new home in a beautifully rejuvenated part of Sydney which is close to jobs, transport, leisure and recreation,"  Edgar says.

All the apartments will have secured car spaces and storage. Most of the apartments will have a north-easterly aspect over landscaped gardens where residents will have space to grow their own vegetables and herbs.

On the banks of the river at Parramatta, the second stage of the River Vistas apartment complex of 355 units is proving popular. Development executive for JQZ developers, Yi Zhou, says it's not just the position close to Parramatta's CBD that has drawn interest.

"A lot of customers have also been drawn to the price structure,"  Zhou says, "Especially when you count the fully ducted air-conditioning system included, the high quality of fixtures and finishes and the efficient internal layout."

All River Vistas apartments have car spaces. One-bedroom units start from $496,000 – well under the first-home buyer's price threshold. Already, 80 per cent have sold.

Mosaic
Kitchener Parade, Bankstown

This boutique development of 33 apartments by Fullerton Property Developers is about five minutes' walk from Bankstown train station, close to gyms, parks and schools and across the road from the south-west region's new entertainment area, Little Saigon Plaza. One-beds (70-75 square metres) are from $449,000, two-beds (91-95 square metres) from $537,000 and three-beds (117-127 square metres) from $675,000. Strata levies are from $420 a quarter. Due for completion in June 2017. Phone CPM Realty, 9247 1299. cpmrealty.com.au

Case study: Dream home close to city

Harriet Wallis Jara and Pablo Jara were searching for their first home when they came across an advertisement for Clemton Park Village online. The couple live in Croydon Park and were keen to stay close to the city.

"Even before coming across Clemton Park Village I had a clear idea of my dream home,"  Wallis Jara says. "I really wanted a two-storey loft-style home." As luck would have it, one apartment in that configuration was still available for sale in that release.

"The apartment represents value for money,"  says Wallis Jara who, along with Pablo Jara, was eligible for the first-home buyer incentive. They are due to move into their new apartment in early May.

Or try these:

Clemton Park Village
60 Charlotte Street, Campsie 

In the latest release of homes at Clemton Park Village, 44 of the 45 apartments on offer were priced under the threshold of the first home owner's grant. The pet-friendly units include air-conditioning, balconies and a car space. The piazza has a Coles supermarket, cafes and other retail outlets. There are 21 apartments still available. One-beds (from 69 square metres) are from $550,000 and two-beds, two-baths (from 82 square metres) from $695,000. Due for completion early 2017. Phone Australand, 13 38 38. cpvillage.com.au

River Vistas
1A Morton Street, Parramatta

Aleksander Design Group have taken developer JQZ's prime riverfront site and created apartments with large, versatile floorplans and river, park or cityscape outlooks, many with northerly aspects. The development has been popular, with 80 per cent of the second release sold. Still available are one-beds (from 52 square metres) from $496,000, two-beds (from 73 square metres) from $620,000 and three-beds (from 95 square metres) from $860,000. Strata levies start at about $450 a quarter. Due for completion 2017. Phone CBRE, 1800 207 177. rivervistas.com.au