Queensland’s Boost to Buy Shared Equity Scheme Explained: How First Home Buyers Can Enter the Market

Buying your first home is a significant milestone, but it can also be a daunting and expensive process, especially with Queensland’s rising property prices. However, the Boost to Buy Queensland first home buyers 2026 initiative offers a practical solution for those struggling to enter the market.

This shared equity scheme is designed to ease the burden on first-time buyers by providing financial assistance through a government contribution towards the property deposit.

If you are a first home buyer in Queensland looking to step onto the property ladder in 2026, this program could be the key to making your dream home a reality.

According to the latest report from the Queensland Government, property affordability in the state has become a significant concern.

For instance, the average house price in Brisbane has risen by nearly 20% in the past five years, making it increasingly difficult for first-time buyers to save enough for a deposit (Queensland Government, 2025). Programs like the Boost to Buy scheme aim to counteract this trend, giving buyers the financial boost they need.

What is the Boost to Buy Program?

The Boost to Buy program is part of Queensland’s effort to help first home buyers enter the housing market by providing a shared equity scheme. The program allows the government to contribute a percentage of the purchase price, helping reduce the upfront cost for buyers. 

This contribution is not a loan; it’s a government equity contribution, meaning the government shares in the property’s value appreciation.

The key benefit of the Boost to Buy scheme is that it allows you to purchase a home with a lower deposit, as the government contributes part of the deposit. 

The homebuyer will still need to secure a mortgage for the remainder of the property’s purchase price, but the government’s equity share significantly reduces the amount required upfront.

This initiative is part of Queensland’s broader efforts to improve property affordability solutions for first-time buyers, especially in the context of rapidly rising property prices.

Eligibility Criteria for First Home Buyers (Income Caps, Property Price Limit)

To qualify for the Boost to Buy Queensland first home buyers 2026 scheme, there are several important eligibility criteria. Below are the key requirements:

1. Income Caps

The applicant’s household income must be below a certain threshold to be eligible for the program. For single applicants, the income cap is $125,000 per year, and for couples or families, it is $200,000 per year.

2. Property Price Limit

The property you wish to purchase must fall within the program’s price limits. The price limits are set at $500,000 for properties in regional areas and $650,000 for properties in Brisbane and surrounding areas.

3. First Home Buyer Status

You must be a first home buyer and not have previously owned property in Australia. This means you must not have received the First Home Owner Grant in the past or purchased another property under your name.

4. Australian Citizen or Permanent Resident

Applicants must be Australian citizens or permanent residents. Temporary residents are not eligible for the program.

If you meet these criteria, you could be well on your way to receiving the financial support you need to make home ownership a reality in 2026.

How the Equity Contribution Works (New vs Existing Homes)

The Boost to Buy program provides a shared equity contribution to help with your property deposit. Here’s how it works for both new and existing homes:

New Homes

• The government will contribute up to 40% of the deposit for newly built homes.
• You will need to contribute at least 5% of the deposit.
• The balance of the property price will be covered by your mortgage loan.

Existing Homes

• The government contributes up to 30% of the deposit for existing homes.
• Similar to new homes, you will need to contribute at least 5% of the deposit.
• The remaining cost will be covered by the mortgage.

In both cases, the government will hold an equity stake in the property, which means that if you sell the property in the future, the government will receive a percentage of the sale price based on its initial contribution.

By providing this equity support, the Boost to Buy program helps to bridge the gap for first home buyers who may otherwise struggle to come up with a full deposit for a home purchase.

Step‑by‑Step: Application Process and Timing

The application process for the Boost to Buy scheme is straightforward, but it’s important to understand the key steps involved to ensure you meet all requirements. Here’s a step-by-step guide:

Step 1: Check Eligibility

Before applying, ensure you meet the income caps and property price limits for the program. You’ll also need to confirm that you haven’t owned a home before and that the property you wish to buy is eligible.

Step 2: Apply Online

You can apply for the Boost to Buy scheme through the Queensland Government website. You will need to provide your personal details, income verification, and property details as part of the application.

Step 3: Submit Supporting Documents

Once you’ve filled out your application, you’ll need to submit supporting documentation, including proof of income, tax returns, and any additional documents requested by the government.

Step 4: Government Assessment

The government will assess your application and verify that you meet the eligibility requirements. This process may take a few weeks.

Step 5: Mortgage Pre-Approval

After the government approves your application, you will need to secure a mortgage from a lender to cover the remaining portion of the property price. Your mortgage broker can help you find the best loan product for your situation.

Step 6: Settlement

Once your mortgage is approved and settlement is completed, the government’s equity contribution will be transferred, and you will be able to move into your new home.

The Boost to Buy Queensland first home buyers 2026 program offers an incredible opportunity for eligible buyers to enter the property market with a smaller deposit.

By taking advantage of the shared equity contribution, first-time buyers can reduce the financial strain of purchasing a home.

Whether you’re looking for a new or existing home, this program could be the perfect stepping stone to homeownership.

Want to learn more about buying your first home? Take a look at our other articles on Finance First such as first home buyer grants, mortgage options, and more to help you navigate your home-buying journey.

FAQ

1. Who is eligible for the Boost to Buy program in Queensland?

To be eligible, you must be a first-time home buyer with an income below the set caps, and the property must meet the program’s price limits. You must also be an Australian citizen or permanent resident.

2.How much will the government contribute to my deposit?

For new homes, the government can contribute up to 40% of the deposit; for existing homes, the contribution is up to 30%.

3. Can I use the Boost to Buy scheme with other government programs?

Yes, the Boost to Buy program can be combined with other assistance programs like the First homeowner Grant and stamp duty concessions for added savings.

4. How long does it take to process the application?

The application process can take several weeks, depending on how quickly you can provide the necessary documentation and the government’s assessment timeline.