Queensland’s $165M “Boost to Buy” Program: Game-Changer or Just a Band-Aid?

The Queensland government has just announced a bold new initiative: a $165 million “Boost to Buy” scheme designed to help first home buyers get their foot in the door. Here’s what you need to know:

THE GOOD:

🔹 Ultra-low 2% deposit requirement — a stark contrast to the traditional 20%.

🔹 Government equity stake of 25-30% — meaning you own the rest outright.

🔹 Income caps — $150K for singles, $225K for couples.

🔹 Available across all of Queensland — broad reach.

🔹 Limited to 1,000 spots over two years — helps prevent market distortion.

🔹 Additional support — $30K First Homeowner Grant & stamp duty freeze extended.

THE CONCERNS:

⚠️ Lottery odds — only 1,000 spots in two years could leave many disappointed.

⚠️ Shared equity — you don’t own 100% of your home initially.

⚠️ When you sell — the government takes their share of any gains.

⚠️ Market impact — could this push prices higher in the $1M bracket?

⚠️ Mortgage qualification — reduced deposits don’t mean easier approval; income ratios still matter.

REALITY CHECK:

This program may help some bridge the deposit gap, but it doesn’t solve the core issue: housing affordability remains a significant challenge. While it offers a pathway for 1,000 families, it’s not a silver bullet.

It’s also worth noting that Victoria and the federal government are exploring similar schemes — we’ll see if these initiatives truly ease affordability or just introduce new complexities.

Your thoughts?

Is this a smart policy move that could unlock homeownership dreams, or just kicking the affordability can down the road?