Queensland’s First Home Buyers Offered Boost In New Equity Scheme

Aspiring home owners in Queensland will have access to a new shared equity program designed to lower the entry barrier to the property market.

Expressions of interest open July 1 for the Boost to Buy scheme, which allows eligible first home buyers to purchase a home with as little as a 2 per cent deposit, thanks to a government equity contribution of up to 30 per cent for new homes and 25 per cent for existing properties.

The initiative, unveiled in the 2025–26 State Budget, is targeted at singles earning up to $150,000 and couples with combined incomes of up to $225,000. It applies to properties valued up to $1 million.

The scheme is backed by $165 million in funding, which the state government says will support up to 1,000 households. The government’s equity will be secured in the home itself, and buyers will not be required to repay this contribution unless they sell or refinance the property.

Premier David Crisafulli described the scheme as “nation-leading”, arguing it will bring home ownership within reach for more Queenslanders, particularly younger buyers and those without access to family financial support.

“This is about helping Queenslanders who are locked out of the housing market not because they can’t afford repayments, but because they can’t get over the deposit hurdle,” Mr Crisafulli said.

“This initiative, along with our expanded $30,000 First Home Owner Grant and the removal of stamp duty for first home buyers on new builds, forms part of our commitment to turning around Queensland’s low home ownership rate.”

According to the most recent data, Queensland has the lowest home ownership rate in Australia at just 63.5 per cent.

Treasurer and Minister for Home Ownership David Janetzki said the scheme was part of a broader plan to improve affordability and rebuild trust in government-led housing support.

“We’re delivering exactly what we promised and that’s unlocking the door to home-ownership for Queenslanders,” Treasurer Janetzki said.

“This is about making Queenslanders’ home ownership dream a reality, delivering a place to call home.

“Boost to Buy comes on top of the first home buyer support we’ve already delivered, including the extended $30,000 First Home Owner Grant and abolishing stamp duty for first home buyers purchasing a new build.”

The LNP Government has pointed to the state’s low home ownership rate and rising cost-of-living pressures as evidence that previous policy settings under Labor had failed to keep pace with community needs.

Opposition figures, however, have pushed back on this narrative. Former Shadow Treasurer Shannon Fentiman has defended Labor’s record, citing a stable credit rating during their tenure and questioning the LNP’s projected debt levels.

While the new scheme has been welcomed by industry advocates for providing an alternative pathway to ownership, some housing economists have cautioned that shared equity models are not a silver bullet, and broader supply-side issues still need to be addressed.

Nonetheless, Boost to Buy represents a significant shift in Queensland’s approach to supporting first home buyers — one that will be closely watched as the government moves to implement its broader housing agenda over the coming months.

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