Realestate.com.au
First-home buyers in Queensland are being given a renewed opportunity to enter the property market, with the State Government reopening applications for its popular shared equity program.
The second round of the Boost to Buy Home Ownership Scheme has officially launched, unlocking 500 new places for eligible buyers struggling to break into one of Australia’s fastest-growing housing markets.
Under the scheme, the Queensland Government contributes up to 30 per cent equity for new homes and 25 per cent for existing properties. This allows buyers to secure a home with as little as a 2 per cent deposit on properties valued up to $1 million.
The $165 million initiative has already helped around 150 Queenslanders purchase their first home, with demand expected to remain strong as property prices continue to rise across the state.
Queensland’s housing market has surged over the past year, with the PropTrack Home Price Index showing values climbing 14.1 per cent to a median of approximately $822,200.
Brisbane has led the charge among capital cities, recording a 17.7 per cent annual increase and cementing its position as Australia’s second most expensive capital behind Sydney.
The scheme forms part of the Government’s broader strategy to improve housing accessibility and increase supply, with a long-term target of delivering one million homes over the next two decades.
Queensland Treasurer and Minister for Home Ownership David Janetzki said the program was designed to remove one of the biggest barriers facing first-home buyers – saving for a deposit.
“This builds on our goal for construction of one million homes over the next 20 years by making home ownership more accessible for Queenslanders,” he said.
“The 2025-26 Budget is delivering on our commitment to unlock more opportunities for people who aspire to own their own home.”
The reopening of the scheme comes at a time when affordability pressures remain high, particularly in Brisbane and other high-growth regions.
With limited places available, prospective buyers are expected to move quickly to secure a position in the latest round.
