The Albanese Labor Government welcomes the introduction of state legislation to deliver Help to Buy in Queensland which will assist more Australians into their own homes.
Queensland is the first jurisdiction to progress state legislation to deliver the Albanese Labor Government’s Help to Buy shared equity scheme, which will give more Queenslanders the opportunity to own their own home and save up to 40 per cent off the cost of their mortgage
The Federal Government will support eligible homebuyers with an equity contribution of up to 40 per cent for new homes and 30 per cent for existing homes.
The House of Representatives passed a bill to establish Help to Buy in February. The bill is currently before the Senate.
For states to participate in Help to Buy, they also need to pass legislation in their jurisdiction.
This partnership builds on the work the Albanese Labor Government is already undertaking to address Queensland’s housing challenges.
As part of the Albanese Labor Government’s $2 billion Social Housing Accelerator, Queensland has received more than $398 million from the Commonwealth to deliver additional homes.
This will help to deliver 600 homes across Queensland.
The Albanese Labor Government has already helped more than 30,000 Queenslanders into home ownership through the Home Guarantee Scheme, including more than 6,000 through the new Regional First Home Buyer Guarantee.
Quotes attributable to Minister for Housing, Julie Collins MP:
“Across Queensland, Help to Buy will be life changing, bringing home ownership back into reach for thousands of Queenslanders, particularly renters.
We have already helped more than 30,000 Queenslanders into home ownership and Help to Buy will deliver even more assistance for home buyers.
The Liberals and Greens should stop standing in the way of Help to Buy and support it in the Senate.
Help to Buy is just one part of the Albanese Labor Government’s broad and ambitious housing reform agenda backed by more than $25 billion in new investments.”