Queensland is set to become the first state to pass legislation for the Help to Buy shared equity scheme, a partnership between the Albanese and Miles Labor Governments aimed at making home ownership more accessible for Queenslanders. The scheme will allow eligible homebuyers to save up to 40 per cent off the cost of their mortgage, with the Federal Government contributing up to 40 per cent for new homes and 30 per cent for existing homes.
Federal Housing Minister Julie Collins highlighted that Help to Buy would help thousands of Queenslanders, especially renters, achieve home ownership. The scheme is part of the Albanese Labor Government’s broader housing agenda, which also includes more than $398 million from the Commonwealth to deliver an additional 600 homes in Queensland.
Queensland Housing Minister Meaghan Scanlon stressed the importance of delivering this scheme quickly, noting that the government is committed to helping Queensland families buy their first home through the Homes for Queenslanders plan. She also called for bipartisan support to address housing challenges and deliver homes faster.
This initiative builds on the success of the Home Guarantee Scheme, which has already helped over 26,900 Queenslanders into home ownership.
