Budget Delivers Boost for First Home Buyers and Housing Supply in Queensland

The Real Estate Institute of Queensland (REIQ) has welcomed the LNP Government’s latest State Budget, applauding key housing initiatives that support first home buyers and streamline development processes.

A standout measure is the launch of a $165 million shared equity scheme, designed to help 1,000 aspiring homeowners over two years. Under the scheme, eligible buyers can purchase a property with just a 2% deposit, accessing up to 30% government equity for new homes and 25% for existing homes. The scheme will now apply to properties valued up to $1 million, an increase from the previously proposed $750,000 cap.