Saving for a home deposit can feel like a race you’ll never win, especially when prices keep rising. That’s why Boost to Buy could be the game-changer you’ve been waiting for. With as little as a 2% deposit, eligible Queenslanders can access a government equity contribution of up to 30% toward their home purchase.
What Is Boost to Buy?
Boost to Buy is a new Queensland government shared-equity program designed to reduce the deposit hurdle for eligible first-home buyers.
Here’s how it works:
- The government contributes up to 30% equity for new homes (or 25% for existing homes)
- You contribute as little as 2% of the property value as your deposit
- The property can be valued up to $1 million
- You earn up to $150,000 (single) or $225,000 (couples) annually
| Property Type | Government Contribution | Minimum Deposit | Maximum Property Price |
|---|---|---|---|
New homes | Up to 30% equity | 2% | $1,000,000 |
Existing homes | Up to 25% equity | 2% | $1,000,000 |
With this scheme, someone with a $15,000 deposit could buy a $750,000 home. That’s a game-changer for buyers struggling to get their foot in the door. However, you must also consider the other costs associated with buying property.
Only 1,000 Spots Available
Boost to Buy is a limited program. With $165 million in funding earmarked to support around 1,000 homes, once the spots are gone, they’re gone.
Who Can Apply?
To be eligible for Boost to Buy:
- You must be a first-home buyer
- You must live in Queensland
- You’ll need a minimum of 2% deposit
- The value of the property is $ 1 million or less.
- Your income must be below:
- $150,000 for single applicants
- $225,000 for couples
Expression of interest open 1 July 2025.
How Boost to Buy Helps
With homeownership rates in Queensland at just 63.5%, the lowest in the country, this scheme is part of a broader plan to improve things.
It’s about helping Queenslanders who don’t have access to the ‘bank of mum and dad’ secure a place to call home.
What Our Broker Says
Senior Mortgage Broker, Jonathan Preston, had this to say about this new shared-equity scheme:
“Boost to Buy looks like a great initiative for first-home buyers, but we expect it will push up dwelling prices overall. With only 1,000 places available and just a 2% deposit required, demand could move quickly. Shared equity might be the stepping stone people need to access higher-quality homes than they could otherwise afford.”
It’s a reminder to act early and make sure the property and loan structure are right for your long-term goals.
Get Expert Help Before You Apply
Schemes like this are a great opportunity, but shared equity comes with fine print. How will the equity share affect your future capital gains? What happens when you want to refinance or sell?
Our expert brokers will guide you through every detail, help you assess your eligibility, and compare loan options that suit your situation, not just the scheme.
Call us on 1300 889 743 or complete our free online assessment today.