Boost to Buy providing a place to call home for Queenslanders

Round two of Queensland’s nation-leading Boost to Buy home ownership scheme is now open, offering an additional 500 places to first home buyers to help them secure a place to call home sooner.

Saving for a deposit and purchasing an affordable first home is increasingly challenging, placing home ownership aspirations out of reach for many people.

Through the Boost to Buy Home Ownership Scheme, the Queensland Government may help you fast-track your path to home ownership.

The scheme provides a government equity contribution of up to 30 per cent for new homes and 25 per cent for existing homes.

The government equity contribution means first home buyers can purchase a property with a smaller deposit. This helps buyers to enter the market earlier by reducing the size of their mortgage, making home ownership more affordable.

To participate in the scheme, home buyers need to have saved a minimum 2 per cent deposit for the purchase price of a property up to $1 million.

Home buyers must also fall within one of the following income thresholds:

• singles with an income of up to $150,000 per annum
• households with two adults earning up to $225,000 per annum
• singles with dependants earning up to $225,000 per annum.

Aspiring first home buyers can apply directly with approved lender Unity Bank, with 50 per cent of places reserved for those living in regional Queensland.

The scheme is expected to support up to 2,000 first home buyers across the state.

Learn more about the eligibility requirements and the application process.