Applications for the Federal Government’s co-home ownership scheme have opened today.
The “Help to Buy” scheme will split ownership of a property between the Government and a first-home buyer.
It will allow buyers to put down a smaller up-front deposit and make lower repayments than an ordinary home purchase.
The first 10,000 places are now been opened to applicants.
Home purchase
Anyone who wants to buy a home in Australia needs to pay a “deposit” up-front — normally around 20% of the property’s value.
The rest of the purchase can be made with a bank loan that you pay off over time with interest, called a “mortgage”.
According to property data analyst Cotality, the national median house price has risen by almost 47.3% since 2020.
In October 2025, the national median house price was $888,941.
Help to Buy
Under the Government’s new scheme, a first home buyer will pay a minimum 5% deposit (or 2% for single parents). The Government will provide ‘equity’ worth up to 30% of the property’s value, or 40% for new builds.
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Equity means the Government will be a part-owner of the property. It’ll also be entitled to up to 40% of a property’s value when it’s sold.
The Government says the smaller deposit is a more realistic target for many Australians, while the equity would allow owners to apply for smaller mortgages.
Applications
Applications for the Help-to-Buy program opened today. 40,000 people will be able to access the scheme over four years.
To be eligible, a person must be a first-home buyer, and must not earn more than $100,000 per year, or $160,000 for couples. If a homeowner’s income increases above these caps, they may have to repay the Government’s equity.
Area-dependent property price caps (e.g. $1.3m in Sydney, $500k in regional South Australia) will limit which homes can be purchased under the scheme.
Comments
Housing Minister Clare O’Neil said the scheme “will open up home ownership to 10,000 ordinary, working Australians each year who might otherwise be locked out.”
Shadow Housing Minister Andrew Bragg called the scheme a “reckless approach with taxpayer funds,” saying that similar schemes have had low uptake because “Australians don’t want to co-own their home with the government.”
Initially, the scheme will only be available through two lenders, Bank Australia and the Commonwealth Bank of Australia, with more added in 2026.
