The First-Home Loan Deposit Scheme will allow eligible first-home buyers on low and middle incomes to purchase a home with a deposit of as little as five per cent, and will roll out from January 2020.

First National Gunnedah's Mike Brady said the scheme would "remove obstacles" for those looking to buy their first home, but there were many "grey areas" that needed answering.

"A lot of these things that government's roll out ... there's just a little gap in the clarity of how it's going to be administered and how flexible they are in looking at who's entitled and who's not," Mr Brady said.

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Applicants will be subject to eligibility criteria, including having taxable incomes up to $125,000 per annum for singles and up to $200,000 per annum for couples. It will apply to owner-occupied loans on a principal and interest basis, and will be subject to regional price caps.

It is expected to support 10,000 first-home buyers each financial year, but Mr Brady said that remained to be seen.

"With the Australian Bureau of Statistics indicating January 2019 saw 8500 first-home buyers step onto the property ladder, the chances are high that many first-home buyers will have missed out on the scheme before the end of February 2020," he said.

Mr Brady said it would also be "interesting" to see whether the new scheme would conflict with the already existing First-Home Owner Grant (New Homes) Scheme.

This scheme allows first-home buyers who are buying a newly constructed home or building a brand-new home to receive a $10,000 grant.

"We're interpreting it doesn't conflict with the state government's [incentives]," he said.

The real estate agent said despite the drought, there was still an interest in buying homes for numerous reasons.

"Whilst a total spending has dropped, there are still people looking to buy property as an alternative to renting or also to take advantage of the existing first-home owners benefits and we're still noticing first-home buyers entering the market and looking for an opportunity to buy now," he said.

"There are certain categories of homes that are being keenly sought, particularly properties that are low maintenance and have been well presented. These are properties in the $250,000 to $500,000 range in town as well as small acreage properties that have got town water connected.

"Consumers will be making more focused decision based on the water, be it town water or reliable bore water supply."

Ewing Real Estate's Matt Davis said spring was a top selling season.

"We've seen a few new listings coming through, and we've been selling quite a lot of properties over the last few months over winter," Mr Davis said.

"Since July it's been a good turn around, we've seen good improvements for selling."