Boost to Buy scheme expands, helping more Queenslanders into home ownership

More Queenslanders are set to achieve home ownership as the State Government expands its flagship Boost to Buy scheme, with a second round of applications opening today.

The initiative, described as a nation-leading program, has already helped 150 first home buyers secure their own property within its first three months. The Government has now added 500 more places to the scheme to meet strong demand.

Boost to Buy provides an equity contribution of up to 30 per cent for new homes and 25 per cent for existing properties, allowing eligible buyers to enter the market with as little as a two per cent deposit on homes valued up to $1 million.

The expansion forms part of broader efforts to improve housing accessibility and affordability across Queensland, with a focus on supporting first-time buyers amid ongoing housing pressures.

Additional measures supporting home ownership include the extension of the $30,000 First Homeowner Grant, the removal of stamp duty for first home buyers purchasing new properties, and relaxed rules allowing buyers to rent out a room without losing government support.

Applications for the second round can be submitted through Unity Bank, with half of all places reserved for regional Queensland applicants.

Treasurer and Minister for Home Ownership David Janetzki said the strong uptake in the first round highlighted the demand for practical support to help people break into the housing market.

"We've already seen 150 Queenslanders achieve home ownership through this program, and demand in South East Queensland was exhausted within a day," he said.

"The expansion of Boost to Buy means more people will have the opportunity to secure a home sooner, with manageable repayments and greater financial certainty."

Among those to benefit are first-home buyers Mitchell and Samantha Stanger, who said the scheme helped turn what once felt like a distant goal into reality.

The couple, who had been living with family on the Gold Coast while saving for a deposit, said the government's equity contribution made it possible to purchase a home suitable for their young family.

Eligibility for the program includes income caps of $150,000 for individuals and $225,000 for households, as well as the requirement to have saved a minimum two per cent deposit.

The Queensland Government has committed $330 million to deliver up to 2,000 places in the scheme over three years, aiming to support more residents into secure, long-term housing.