Equity support of up to 30% returns as prices keep rising across the state
Queensland’s Boost to Buy Home Ownership Scheme has opened a second round of applications, offering 500 slots to first-home buyers.
Under the programme, the Queensland government provides an equity contribution of up to 30% for newly built homes and up to 25% for existing properties. Buyers must contribute a deposit of at least 2% for a home priced up to $1 million.
The state government has allocated $165 million for the scheme, which has already supported 150 buyers.
“The scheme lowers the barrier to entry by reducing the deposit required and overall loan size, making home ownership more accessible,” said Anne Flaherty (pictured right), senior economist at REA Group. “As a result, it should help more buyers enter the market sooner than would otherwise be possible.”
House price growth in Australia has remained strong. In Queensland specifically, median home price has risen 14.1% over the past 12 months, the PropTrack Home Price Index shows, reaching $822,200, close to the national average. Brisbane prices are up 17.7% over the year, making it the second most expensive capital city after Sydney.
According to Flaherty, lifestyle appeal and strong population growth would continue to attract first-home buyers to the sunshine state. “These factors have contributed to rapid home price growth in recent years which has impacted the time taken to purchase a first home,” she said.
David Janetzki (pictured right), Queensland treasurer and minister for home ownership, linked the opening of more slots to longer-term supply targets.
“This builds on our goal for construction of one million homes over the next 20 years by making home ownership affordable for more Queenslanders,” he said.
“The 2025-26 Budget is delivering what we promised — the right plan to unlock home-ownership opportunities across Queensland. I want everyone who aspires to own a home to have a chance to do that.”
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