Queensland's Boost to Buy Returns for Round 2 — What First Home Buyers Need to Know

Queensland Boost to Buy Returns: What It Is and Who Qualifies

Queensland's flagship first home buyer shared equity scheme — Boost to Buy — has reopened for a second round of applications, with the state government releasing fresh slots for eligible buyers. The news comes as rising property prices and housing shortages in Brisbane and regional Queensland are pushing homeownership further out of reach for many Australians.

How the Boost to Buy Program Works

Boost to Buy is a shared equity scheme where the Queensland government co-purchases a property with an eligible buyer. The government takes an equity stake of up to 25% (or 35% for key workers), reducing the amount the buyer needs to borrow and making monthly repayments more manageable.

Eligibility criteria include:

• Australian citizen or permanent resident
• First home buyer purchasing in Queensland
• Combined household income under 40,000 (singles) or 80,000 (couples/families)
• Property value under 00,000 (Brisbane and major regional centres)
• Minimum 2% deposit contribution from the buyer

The scheme is designed to reduce upfront borrowing, not eliminate it entirely. Buyers still need to qualify for a mortgage on the remaining 75–98% of the purchase price.

Why Competition Is Fierce in 2026

The second round of Boost to Buy applications has attracted significant interest. Multiple factors are converging to increase pressure on first home buyers:

• Brisbane prices continue rising: According to Cotality (formerly CoreLogic), Perth and Brisbane are experiencing supply-driven price booms, with tight listings and strong investor demand pushing values higher
• Cash rate at 4.10%: With the RBA holding rates at 4.10% (effective March 2026), borrowing capacity remains constrained
• Housing shortage: Supply in south-east Queensland is failing to keep pace with population growth, particularly in the under-00,000 bracket

This means that while Boost to Buy offers real help for those who get through the door, many eligible buyers will miss out simply due to the limited number of slots available.

What Buyers Who Miss Out Should Know

For first home buyers who cannot access Boost to Buy — whether due to income limits, property price, location, or simply missing the quota — there are alternative pathways worth understanding.

Non-bank lenders offer several advantages:

1. Lower deposit products: Some non-bank lenders can consider applications with smaller deposits than the major banks require post-LMI
2. Faster processing: When suitable properties come up in competitive markets, speed matters. Non-bank lenders can often provide faster conditional approvals
3. Flexible income assessment: Buyers with non-traditional employment (casual, contract, self-employed) may find non-bank lenders more accommodating than the Big Four
4. New migrant and PR borrowers: Eligible permanent residents who are first home buyers may access non-bank products even with shorter Australian credit histories

The Bottom Line

Boost to Buy round two is welcome news for those who qualify, but the program's limited scale means most first home buyers in Queensland will need to find their own path to ownership. Whether through alternative lending solutions, private savings strategies, or considering different property types and locations, the options exist — they just require some navigation.

This article is for general information purposes only and does not constitute financial advice. Lending outcomes depend on individual circumstances. Always seek independent financial advice before making property decisions. MPFG Capital holds Australian Credit Licence 553698.