How Boost to Buy works
Applications for the Boost to Buy home ownership scheme open from Monday 15 December 2025.
Shared equity
A shared equity scheme involves a third-party contributing funds to help you buy a home. You don’t pay any interest on their contribution.
For Boost to Buy, the Queensland Government is the third-party contributing funds. In return, the Queensland Government secures an equity share in your property, that will fluctuate in value based on the value of the property. When you sell your home or pay off your loan, you’ll need to repay the government’s equity, based on the current value of the property. You can also make extra repayments at any time to reduce the government’s equity.
The Queensland Government’s equity in the property is based on the lower value of either the purchase price or the lender’s valuation.
Example:
Jason agrees to buy a home for $900,000. The lender approves his loan, but they value the property at $870,000, which is lower than the purchase price. The Queensland Government contributes $225,000 (25% of the purchase price) and Jason’s lender covers the rest after factoring in Jason’s deposit. However, the government’s equity is calculated based on the lower valuation of $870,000. This means their equity in Jason’s home is 25.86% instead of 25% – this is because the government’s contribution of $225,000 represents 25.86% of the property valuation of $870,000.
Jason doesn’t pay interest on the government’s 25.86% equity in his property. When he eventually repays the government, the amount he owes will be based on the market value of the property at that time, not the original purchase price.
After 2 years, Jason decides to sell the property. The property is valued and sold at $1 million. To pay out the Queensland Government’s equity in the property, Jason pays 25.86% of $1 million, or $258,600 and exits the scheme.
Make a larger deposit
Your deposit can be more than the required minimum deposit. The more you deposit, the greater your share of equity will be.
Make extra repayments
You can make extra repayments to reduce the government’s equity in your property. These payments must either reduce the government’s share in your property by at least 5% of the current market value of the property or pay off their share completely. However, you cannot pay back the Queensland Government’s equity in full or reduce the share to less than 5% in the first 2 years from the date your property settled.
To calculate how much the government’s share will decrease:
- divide your repayment amount by your property’s current market value
- subtract that percentage from the government’s current share.
The property’s current market value must come from your approved lender (in case you refinance to make a repayment) or from an independent valuer registered with the Valuers Registration Board of Queensland.
Example
David buys a home for $750,000 and the Queensland Government contributes $187,500, giving the Queensland Government 25% equity in the property.
After 3 years, David saves $40,000 and decides to make a voluntary payment to reduce the government’s equity. An independent valuer assesses the property’s value at $800,000, which is $50,000 more than when David bought it.
By paying $40,000 (5% of the market value), David reduces the government’s equity from 25% to 20%, meeting the requirement that voluntary payments must reduce the government’s equity by at least 5%.
Queensland Government contribution
The Queensland Government can contribute up to 25% for existing homes and up to 30% for new homes. You don’t have to use the full amount. However, your deposit combined with the government’s contribution must be at least 20% of the home’s purchase price.
Purchasing a property
It’s recommended you seek independent legal advice on what terms and conditions to include in your contract.
Participants must include a 14-day subject-to-finance clause and a 30-day settlement period at a minimum in a contract of sale (standard terms of an REIQ contract). This will give enough time for the Queensland Government’s financial contribution (shared equity money) to be arranged.
You cannot buy a property at auction because auction sales are unconditional, and final approval from the scheme and your lender can only be given after the property’s eligibility is assessed.
When buying your home, you’ll need to cover all purchase-related costs, such as conveyancing, legal fees, building inspections and transfer duty.
You may be eligible for transfer duty concessions and the First Home Owner Grant to assist with these costs, but you’ll need to apply for them separately.
When applying for provisional approval, you must indicate the region where you plan to purchase a property – either regional Queensland or South East Queensland. The property you buy must be within the region you have selected. For example, if you apply to purchase a property in regional Queensland, you can only buy a property in that area and the same applies if you choose South East Queensland.
Complying with ongoing obligations
While participating in the Boost to Buy scheme, if your income goes over the set income threshold, you must notify the Queensland Government. If your income is 25% above the threshold for 2 years in a row, you’ll need to apply for a loan increase with your lender to repay some, or all the government’s share in your property.
You only need to proceed with the loan increase if it reduces the government’s equity by at least 5%, unless the full repayment amount is smaller. However, lenders will only approve the loan increase if you meet their standard borrowing criteria. If your loan increase is not approved, you won’t need to repay the government’s equity at that time, and the government’s share in your property remains unchanged.
Following this, the Queensland Government will review your income every 3 years. If your income remains 25% above the threshold for 2 consecutive years, the process will be repeated to assess whether you need to make another repayment.
Example:
Sarah buys a home for $610,000, and the Queensland Government contributes $152,500, giving them 25% equity in her property.
Three years later, Sarah gets a promotion, and her income exceeds the threshold. At her first income review, it’s confirmed she has been over the threshold for 2 years in a row.
Sarah must now make a mandatory repayment if her financial situation allows. She contacts her lender, who assesses her borrowing capacity and approves a $50,000 loan increase. The lender also values Sarah’s property at $650,000, which is $40,000 higher than the original purchase price.
With the $50,000 repayment, Sarah reduces the government’s equity from 25% to 17.31% – a reduction of 7.69%, which exceeds the minimum required 5%.
If you move out of the home you bought through Boost to Buy and it’s no longer your main place of residence, you must let the Queensland Government know straight away. You’ll no longer qualify for the scheme and will need to repay the government’s full share in your property immediately. This can be done by refinancing, using extra funds you have, or selling your property.
While participating in Boost to Buy, you cannot own any other property. If you buy another property outside the scheme, you must inform the Queensland Government straight away. You will no longer qualify for the scheme and will need to repay the government’s full share in your home immediately. This can be done by refinancing, using extra funds, or selling your property.
You (and your joint applicant if any) must remain the only registered owners of the property. However, you can add a partner to your property under Boost to Buy, as long as you both remain eligible.
Example:
Simon buys a home through Boost to Buy. A few years later, his partner Ashley moves in, and they decide to become joint owners of the property.
To make this happen, Simon needs to apply for Ashley to join the scheme. Their eligibility is assessed as a couple. Since Ashley meets the income limits for 2 adults, has never owned property before, and is an Australian citizen, they are approved. Once approved, Simon and Ashley can work with their lender and conveyancer to arrange for Ashley to become a co-owner of the property.
If you need to remove a partner from the scheme (due to death, divorce or separation), speak to your approved lender in the first instance as they will need to determine whether your change in circumstances will impact your home loan. You can remain in the scheme as long as you meet the eligibility requirements for a single applicant.
Exiting the scheme
You are required to remain in the scheme, owning the property as your principal place of residence, for at least 2 years from the date of settlement. After this time, you can exit the scheme by either selling your property or repaying the government’s share in full by refinancing or using your savings.
If you sell your home, you’ll need to contact your lender to organise a property valuation.
When you sell, the money from the sale will first be used to pay your lender, the Queensland Government and anyone else with a legal claim on your property. Any remaining amount will go to you.
Example:
Ravi and Jess purchase a $1,000,000 property through Boost to Buy. They provide a 2% deposit ($20,000), and the Queensland Government contributes 25% ($250,000). After 3 years, they decide to sell their home. Here are some possible outcomes:
Scenario 1: Sale price matches valuation
Ravi and Jess sell their home for $1,100,000, matching the property valuation. The home’s value has increased by $100,000, and the Queensland Government’s 25% share of this increase is $25,000. This brings the government’s total share to $275,000. After repaying their $700,000 loan and the government’s $275,000 equity, Ravi and Jess are left with $125,000.
Scenario 2: Sale price below valuation
The home sells for $1,100,000, but the valuation was $1,130,000. The $130,000 increase in value means the Queensland Government’s 25% share of the increase is $32,500, making their total share $282,500. After repaying their $700,000 loan and the government’s $282,500 equity, Ravi and Jess are left with $117,500.
Scenario 3: Sale price far below valuation
Ravi and Jess want to sell their home for $900,000, but the valuation is $1,100,000. The Queensland Government’s 25% share is $275,000, and their loan balance is $700,000, totalling $975,000. Since the sale proceeds are only $900,000, the government would receive $200,000, leaving Ravi and Jess with a $75,000 debt to the government. They would receive no equity from the sale proceeds.
You can refinance when your finances allow and use the funds to pay back the Queensland Government’s equity in your property. The Queensland Government’s equity is based on your property’s market value at the time you leave the scheme. This value is determined by a valuation from your lender.
Example:
Ellie buys a $700,000 home using the Boost to Buy scheme. She provides a 2% deposit ($14,000), the Queensland Government contributes 25% ($175,000), and she takes out a home loan for the remaining $511,000 with an approved lender.
Ellie doesn’t pay interest on the government’s 25% equity. However, when she repays their equity, the amount will be based on the home’s market value at that time, not the original purchase price.
Five years later, Ellie’s home is worth $900,000. Her loan balance has reduced to $469,000, but the government’s 25% equity has increased to $225,000 (because the home’s value has increased).
Ellie decides to pay out the government’s equity. She meets with her lender and applies to increase her mortgage by $225,000. Once approved, the extra funds are used to repay the government’s equity.
More information
- Discover more about the scheme.
- Read about the scheme’s eligibility, ongoing obligations and exit process.
- Find out how to apply.
- Read the Information Statement to find out more about the scheme and key considerations for participants.
Disclaimer
This information provides a general overview of the Boost to Buy scheme and does not consider your individual financial situation or needs. Before making any decisions, assess whether the scheme suits your individual circumstances and seek advice tailored to your needs (such as financial, tax or legal) from a qualified professional.
Note: Scheme applications are subject to Scheme Provider approval. Loan applications to the approved lender are subject to credit approval, terms and conditions and fees.