In the 2025–26 Queensland Budget, the state government unveiled the Boost to Buy program—a $165 million shared equity initiative designed to assist first home buyers in entering the property market with a deposit as low as 2%. This scheme is considered the most generous of its kind in Australia.
🔑 Key Features of Boost to Buy:
- Low Deposit Requirement: Eligible buyers can purchase a home with just a 2% deposit.
- Government Equity Contribution: The government will contribute up to 30% equity for new homes and 25% for existing homes, on properties valued up to $1 million.
- High Income Thresholds: Singles earning up to $150,000 and couples earning up to $225,000 are eligible—the highest income caps for such schemes nationwide.
- Application Timeline: Applications open on July 1, 2025, with 1,000 places available over two years.
💰 Additional Support for First Home Buyers:
- First Home Owner Grant: Extended to $30,000 for eligible buyers purchasing or building a new home valued up to $750,000, available until June 30, 2026.
- Stamp Duty Concessions: Full stamp duty exemption for eligible first home buyers purchasing new homes or vacant land, effective from May 1, 2025.
📍 What This Means for Hervey Bay Buyers:
Hervey Bay’s property market remains strong, with ongoing demand and limited supply. The Boost to Buy scheme, combined with existing grants and concessions, provides a significant opportunity for first home buyers to enter the market more affordably.
📞 Ready to Take the Next Step?
If you’re considering buying your first home in Hervey Bay, now is an excellent time to explore your options. Contact us today to discuss how these initiatives can help you achieve your homeownership goals.