Australian Government
Help to Buy Scheme
The Help to Buy Scheme is a shared equity initiative from the Australian Government, designed to help more Australians secure a home of their own. It is administered by Housing Australia.
What is the Help to Buy Scheme?
The Help to Buy Scheme is designed to support Australians in taking the step into home ownership, whether you’re buying your first home or re-entering the property market.
Eligible participants may be able to purchase or build a new home with as little as a 2% deposit, making home ownership more accessible for more Australians.
How does the Help to Buy Scheme work?
Shared equity ownership
If eligible, the Australian Government contributes between 5% and 30% of the purchase price for existing homes, or up to 40% for new builds or construction. Your deposit, combined with the Government’s contribution, must make up at least 20% of the property value.
Government contribution at settlement
The Government’s share is secured as a second mortgage on the property and is paid at settlement alongside your loan, helping reduce the amount you need to borrow.
Ongoing eligibility requirements
You’ll need to continue meeting the scheme’s income limits and participation requirements over time. If your circumstances change and you no longer meet eligibility criteria, your situation will be reviewed. You may be required to gradually or fully buy back the Government’s share of the property.
Am I Eligible?
To access the Help to Buy Scheme, you’ll need to meet the following criteria:
Be an Australian citizen and at least 18 years of age.
Not currently own property or land, although previous ownership may be allowed. Exceptions may apply for eligible single parents.
Live in the property as your principal place of residence—it cannot be used as an investment.
Meet income requirements:
Up to $103,000 per year for individual applicants
Up to $165,000 per year for joint applicants and single parents
Use a principal and interest home loan with repayments over a term of up to 30 years. Interest-only repayments may be permitted during construction.
Stay within the property price cap for your chosen location (see below for details).
Contribute a minimum 2% deposit.
This scheme is designed for buyers who are close to entering the market but need a little extra support to get there. If you can already purchase a home comfortably through your own savings and borrowing capacity, you may not be eligible. However, if you’ve saved what you can and just need a boost to bridge the gap, Help to Buy could be the pathway that makes home ownership possible.
Property Price Caps
The Help to Buy Scheme has property price limits that vary depending on the state or territory where you’re purchasing. These caps help ensure the scheme supports affordable home ownership across different regions.
Below are the current price caps by location:
