Boost to Buy: Queensland’s shared equity scheme

Boost to Buy, Queensland’s shared equity scheme

Under Boost to Buy, the Queensland Government puts in up to 30% of the price of a new home, or up to 25% of an existing one, and takes a share in the property, so a first home buyer can purchase with a 2% deposit at a price of up to $1 million. The buyer pays no interest on that share, but repays it later at the home’s value at the time.

General information, not financial advice. This guide is published by Dotto and does not arrange loans or give advice. Queensland Treasury itself warns about third-party websites on the scheme and asks people to get scheme information from a Queensland Government website with qld.gov.au in its address, or from an approved lender’s website. So the official place to check is Queensland Treasury’s Boost to Buy pages.

Status as at 8 October 2026

Treasury says Round 2 is open with up to 500 more places, but that the South East Queensland allocations are exhausted and only regional Queensland places remain. For the scheme, South East Queensland includes the Gold Coast. Treasury says any future availability will be announced on its scheme page.

Where the Gold Coast sits

Places are split evenly between South East Queensland and the rest of the state. Treasury lists South East Queensland as Brisbane, the Gold Coast, Ipswich, Logan-Beaudesert, Moreton Bay and the Sunshine Coast; everywhere else counts as regional. A place is allocated by where the property is, not where the applicant lives, and the home bought has to be in the region the applicant was provisionally approved for. Applications are approved first come, first served. In all, Treasury says $330 million is allocated to the scheme, expected to support up to 2,000 first home buyers.

For a Gold Coast home, that means the scheme had no places open on the day this page was checked. The rest of this guide describes how it works when places are available.

How the government’s share works

The government’s contribution buys it equity in the home rather than lending money. The buyer pays no interest on it. When the home is sold or the loan is paid off, the government’s share is repaid at the property’s value at that time, so it rises and falls with the home. A few rules shape the numbers:

The buyer’s deposit plus the government’s contribution must come to at least 20% of the purchase price. The full contribution does not have to be used.
The share is measured against the lower of the purchase price and the lender’s valuation. Treasury’s example: a 25% contribution on a $900,000 purchase that the lender values at $870,000 becomes a 25.86% share.
Any rise in value from renovations benefits the government too, because its share stays until repaid. The scheme will not fund renovations, the loan cannot be increased for them, and Treasury recommends repaying the government before major work.

Who it is for

Treasury’s criteria, in short:

An Australian citizen or permanent resident aged 18 or over when applying, applying as an individual and not as a company or trustee.
A first home buyer: neither the applicant nor their spouse owns, or has ever owned, real property in Australia.
A deposit of at least 2% of the price from demonstrated savings, not counting the first home owner grant, with savings also covering costs such as transfer duty, conveyancing and mortgage registration.
Income within the threshold for the 2026 taxable income year: up to $155,000 for a single adult, or up to $232,000 for two adults or for a single adult with dependants.
An intention to live in the home and be its registered owner.
Not receiving help from a Commonwealth home-buyer guarantee or shared equity scheme, or a state or territory home ownership loan or guarantee.

Which homes qualify

An eligible home is an existing or newly built house, townhouse, unit or apartment in Queensland, priced at $1 million or less, with a certificate of occupancy or final inspection certificate already issued. Off-the-plan purchases, vacant land and homes bought at auction are not eligible.

The steps, in order

Step 1

An approved lender

The scheme runs through an approved lender for the home loan. Treasury says one lender currently takes part and names it on its how to apply page. Appointments are allocated by the region the applicant plans to buy in.

Step 2

Provisional approval

If the applicant qualifies for a loan, meets the criteria and places remain in that region, the lender sends the application to the scheme’s administrator, the Queensland Rural and Industry Development Authority (QRIDA).

Within 6 months

A home and a signed contract

Provisional approval lasts 6 months, in which the buyer finds an eligible home in the approved region and signs a contract; after that, reapplying is subject to availability. The contract must give at least 14 days for finance in a subject-to-finance clause, and at least 30 days until settlement; Treasury notes these are standard terms of the Real Estate Institute of Queensland contract.

Within 3 days of signing

Final approval

The contract goes to the lender within 3 days, with a home insurance certificate or a copy of the strata insurance. The final approval letter sets out the government’s equity share and the amount it will contribute at settlement.

At least 2 years from settlement

The earliest exit

A participant must stay in the scheme, living in the home, for at least 2 years after settlement. After that, leaving means selling, or repaying the government’s share in full from savings or by refinancing.

While in the scheme

The obligations that carry on

Treasury lists some of the ongoing obligations a participant must meet to stay eligible; the full list is in the participation agreement. In Treasury’s order:

The home must be the principal place of residence; being away for more than 3 months in a row needs approval.
Income must not go 25% or more over the relevant threshold. The thresholds rise each year in line with the wage price index.
The home must not be rented out, though letting a room or taking in a housemate is allowed.
The applicants must remain the only registered owners.
No other land or property may be acquired while in the scheme.
The home must be maintained and kept in good working order, with any defects fixed.
It must always be insured against damage and destruction, including by fire, flood, storm and cyclone, and against any other risk the lender requires.
Property costs must be paid on time, among them council rates, utilities and any body corporate fees and charges.
The home loan cannot be increased, except to repay some or all of the government’s share.
Refinancing is allowed only with a scheme-approved lender.
The participant must stay in the scheme for at least 2 years from settlement before leaving it.
Any change in circumstances that would affect eligibility must be reported to the scheme provider straight away.
A scheme eligibility audit must be completed every 5 years.

If income runs 25% or more over the threshold for 2 years in a row, the participant applies to the lender for a loan increase to repay some or all of the government’s share. If the lender declines, nothing needs repaying at that point. Moving out, or buying another property, ends eligibility, and the government’s full share must then be repaid straight away.

Paying the share down

Extra repayments can reduce the government’s share at any time, but each one must cut the share by at least 5% of the home’s current market value or clear it entirely, and in the first 2 years after settlement the share cannot be repaid in full or taken below 5%. The value has to come from the approved lender or from a valuer registered with the Valuers Registration Board of Queensland, using a short form valuation with a physical inspection. When a home is sold, the proceeds pay the lender, the government and anyone else with a legal claim first; Treasury’s worked examples include one where a sale well below valuation leaves the owner owing the government money. Treasury also publishes an information statement on the scheme’s key considerations and risks.

Where a loan comes in

The loan sits with the approved lender and is subject to that lender’s credit approval, terms and fees, while the scheme application is subject to the scheme provider’s approval. Purchase costs stay with the buyer; Treasury points to the transfer duty concessions and the first home owner grant as separate applications that may help.