In a bid to assist first-time home buyers, the Queensland government will announce a new shared equity initiative in today’s state budget. Known as the Boost to Buy scheme, it offers significant equity contributions for eligible buyers—30% for new constructions and 25% for existing properties, with a maximum property value of $1 million.
This announcement follows the government’s earlier decision to extend the $30,000 First Home Owner Grant for new builds until June 2026, aimed at making homeownership more accessible to Queensland residents.
Premier David Crisafulli expressed his desire to see younger generations engage with the property market again, stating, “I want people to dream again about home ownership and about the great Australian dream.” He acknowledged the current challenges facing prospective buyers, highlighting the need to bridge the gap to homeownership.
Under the new scheme, the government will retain its equity stake in the properties until they are sold, at which point it will recoup its investment. Full details regarding the Boost to Buy scheme are anticipated in the Queensland budget for 2025-2026, which will be released later today.