Owning a home has long been part of the Australian dream, but for many young families across Queensland, that dream is feeling increasingly out of reach. Rising property prices and the challenge of saving a deposit mean more Queenslanders are struggling to take that first step into home ownership.
With more than $31 million already supporting over 150 buyers, Round Two opens today, offering another 500 places—half reserved for regional Queenslanders. Together with additional measures like the extended First Homeowner Grant and stamp duty relief, we’re making home ownership more achievable across the state.
It was wonderful to catch up with new homeowner Johnathon and his children, Darcy and Harlo who were able to purchase their Redlynch home under the first round of Boost 2 Buy. Congratulations Johnno and thank you for letting us be part of your special milestone.
Already, more than $31 million in equity has been committed to over 150 Queenslanders, with strong demand seen in the first release of places.
The scheme is designed to be accessible. Eligible buyers need only a minimum two per cent deposit for properties valued up to $1 million. For example, someone purchasing a new home valued at $750,000 could receive up to $225,000 in equity support, while contributing as little as $15,000 themselves. Eligibility extends to single buyers earning up to $150,000, and households or single parents earning up to $225,000.
Queensland currently has the lowest rate of home ownership in the country, and in Brisbane it now takes almost seven and a half years to save a 20 per cent deposit for a median-priced home—significantly longer than in previous decades. Across the state, the average is still around six and a half years, highlighting the growing affordability challenge.
That’s why this initiative forms part of a broader plan to ease housing pressures and support first home buyers. This includes extending the $30,000 First Home Owner Grant until June 2026, removing stamp duty for first home buyers purchasing new homes or land, and allowing buyers to rent out a room from day one without losing access to grants and concessions.
Together, these actions are focused on making home ownership a realistic and achievable goal again for Queenslanders—especially young families looking to build their future.
