Those looking to jump onto the property ladder for the first time can now do so in Queensland with an added leg up from the state government.
The Boost to Buy Home Ownership Scheme has opened its second round of applications today, opening the door to 500 first-home buyers.
Under the scheme, the Queensland Government provides an equity contribution of up to 30% for new homes and 25% for existing homes.
Prospective buyers need at least a 2% deposit for the purchase price of a property, up to $1 million.
The $165m concession has already seen 150 new buyers jump at the chance to enter the market in one of Australia’s hottest states.
The median price of a home in Queensland has jumped 14.1% in the past 12 months, the PropTrack Home Price Index shows, reaching close to the nation’s average at $822,200.
Home prices in Brisbane are up 17.7% in the last year, cementing its position as the nation’s second priciest capital after Sydney.
“This builds on our goal for construction of one million homes over the next 20 years by making home ownership affordable for more Queenslanders,” treasurer and minister for home ownership David Janetzki said.
“The 2025-26 Budget is delivering what we promised — the right plan to unlock home-ownership opportunities across Queensland.
“I want everyone who aspires to own a home to have a chance to do that.”
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