Queensland’s Boost to Buy Scheme Explained
The Queensland Government has introduced the Boost to Buy scheme, a $165 million initiative designed to assist first-time homebuyers in entering the property market. This program offers a shared equity model, reducing the financial burden on eligible buyers.
🏠 What is the Boost to Buy Scheme?
The Boost to Buy scheme is a shared equity program where the Queensland Government contributes a portion of the property's purchase price, thereby lowering the amount buyers need to borrow. This initiative aims to make homeownership more accessible, especially for those struggling with rising property prices.
✅ Key Features
Government Equity Contribution:
Up to 30% for new builds
Up to 25% for existing homes
Maximum Property Value: $1 million
Minimum Deposit Required: 2% of the purchase price
Application Start Date: 1 July 2025
Target: Assist 1,000 Queenslanders over the next two years
👥 Eligibility Criteria
To qualify for the Boost to Buy scheme, applicants must:
Be purchasing their first home
Be an Australian citizen or permanent resident
Intend to live in the property as their principal place of residence
Have a household income of up to:
$150,000 for singles
$225,000 for couples
Provide a minimum 2% deposit
Secure a home loan for the remaining purchase amount
💰 Additional Support for First Home Buyers
The Queensland Government has also introduced complementary measures to further assist first-time buyers:
First Home Owner Grant: Increased to $30,000 for eligible applicants purchasing or building a new home, extended until 30 June 2026.
Stamp Duty Concessions: Full exemption on transfer duty for eligible first home buyers purchasing or building a new home from 1 May 2025.
📝 How to Apply
Applications for the Boost to Buy scheme open on 1 July 2025. Prospective buyers should prepare by:
Ensuring they meet the eligibility criteria
Gathering necessary documentation (proof of income, identification, etc.)
Consulting with a mortgage broker or financial advisor to understand their borrowing capacity
Researching suitable properties within the $1 million cap
📞 Get Started Today
If you're a first-time homebuyer in Queensland, the Boost to Buy scheme could be your pathway to homeownership. Contact one of our experienced mortgage brokers to explore your options and begin your journey towards owning your own home.
