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Boost To Buy
The Queensland Government last week announced its new “Boost to Buy” scheme for first home buyers as part of its 2025-26 budget. The scheme will assist up to 1000 Queensland first home buyers into a home using a shared equity model and a minimum 2% deposit.
According to the government media release, “a first home buyer with a deposit of just $15,000 could buy a home valued at $750,000”.
The median dwelling price in Ipswich is currently $751,910 according to Cotality. The scheme will be open to single purchasers with an income of up to $150,000, and households with two adults earning up to $225,000, purchasing a home up to $1mil in value.
It is important to note that this scheme appears to be structured differently from the Federal Government’s “First Home Guarantee Scheme” which allows first home buyers to purchase with a 5% deposit using a government guarantee for the remaining 15% deposit thus avoiding Lenders Mortgage Insurance. In this instance the first home buyer still needs to have borrowing capacity to service a 95% loan to value ratio (LVR). With the state Boost to Buy scheme the government actually contributes up to 25% of the purchase price at settlement (for an established home) taking a 25% ownership stake in the property. Thus, a first home buyer using this scheme may only need borrowing capacity for a 75% LVR. This means a smaller loan and lower monthly repayments freeing up cashflow or offers the opportunity for a first home buyer to purchase a better quality home than they might otherwise have been able to afford.
With expressions of interest opening from 1 July 2025 for the Boost to Buy scheme this may offer an opportunity for first home buyers to get ahead of the anticipated surge in demand in this segment of the market which will likely come off the back of the Federal Government’s expanded First Home Guarantee scheme launching on 1 January 2026.
As I’ve discussed here previously, these types of schemes, while helpful for first home buyers, drive increased demand in a market where there is already a structural undersupply of housing. With most of these first home buyer incentives or assistance packages capped at purchases under $1mil this is where we will likely see increased first home buyer demand which will ultimately drive prices higher.
The Ipswich market looks set to be a beneficiary of this growth with a median dwelling value of $751,910 as of May 2025 according to Cotality. With plenty of options below this median and many more under the $1mil price point we expect Ipswich to become a focus for first home buyers along with investors hoping to benefit from this growth in the months ahead.
Source: https://statements.qld.gov.au/statements/102858
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