Buy with a 2% deposit while the Government contributes up to 40% of the price. Here's who qualifies, the price caps, a worked example and how it compares with the 5% Deposit Scheme.
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Help to Buy lets eligible buyers purchase a home with the Australian Government as a part-owner. You put in a deposit of at least 2%, take out a home loan from a Participating Lender, and the Government contributes the rest — up to 30% of the price of an existing home or up to 40% of a newly built one.
Because your loan is much smaller, your repayments are lower and you don't pay lenders mortgage insurance. In return, the Government shares in your home's future value: when you sell, or when you buy back its share, the amount is worked out on the home's value at that time.
The purchase price must be at or under the cap for the location.
| State / territory | Capital city & regional centres | Rest of state |
|---|---|---|
| NSW | $1,300,000 | $800,000 |
| VIC | $950,000 | $650,000 |
| QLD | $1,000,000 | $700,000 |
| WA | $850,000 | $600,000 |
| SA | $900,000 | $500,000 |
| TAS | $700,000 | $550,000 |
| ACT | $1,000,000 | — |
| NT | $600,000 | $600,000 |
Regional centres are Newcastle and Lake Macquarie, Illawarra, the Central Coast, the Mid-North Coast, Coffs Harbour–Grafton and Richmond–Tweed in NSW; Geelong in Victoria; and the Gold Coast and Sunshine Coast in Queensland. Check your postcode with the Housing Australia price cap tool. Note that some caps differ from the 5% Deposit Scheme — for example, Sydney is $1.3 million for Help to Buy and $1.5 million for the 5% Deposit Scheme.
| Existing home (30%) | New home (40%) | |
|---|---|---|
| Your deposit (2%) | $16,000 | $16,000 |
| Government share | $240,000 | $320,000 |
| Your home loan | $544,000 (68%) | $464,000 (58%) |
This assumes the maximum Government contribution and the minimum deposit; your actual amounts depend on the lender's and Housing Australia's assessment. Stamp duty, legal and other buying costs are extra. If the home later rises 10% in value to $880,000, a 30% Government share would be worth $264,000 to buy back; if it falls, the Government's share falls too.
| Help to Buy | 5% Deposit Scheme | |
|---|---|---|
| Minimum deposit | 2% | 5% (2% for eligible single parents) |
| What the Government does | Contributes up to 30% / 40% of the price as an equity share | Guarantees part of your loan (no money towards the price) |
| Your loan | As low as 58–68% of the price | Up to 95% of the price |
| LMI | None | None |
| Income limits | $103,000 / $165,000 | None |
| Who can apply | Australian citizens only | Citizens and permanent residents |
| Places | 10,000 a year | Unlimited |
| Future growth | Shared with the Government | All yours |
| Lenders | A small number of Participating Lenders | A wide panel of Participating Lenders |
Help to Buy suits buyers whose income can't support a full-size loan but who want to get into a home sooner. The 5% Deposit Scheme suits buyers who can service a larger loan and want to keep all of the future growth. Read our 5% Deposit Scheme guide for the details.
We can explain how Help to Buy works for you, compare it with the 5% Deposit Scheme and your other options, and help you get your documents and numbers ready — in English, Mandarin or Cantonese.
Australian citizens aged 18 or over, applying alone or with one other person, with at least a 2% deposit, who will live in the home and don't own any property in Australia or overseas. Taxable income must be $103,000 or less for individuals, or $165,000 or less for joint applicants and single parents, based on the FY2026 Notice of Assessment.
Up to 30% of the purchase price for an existing home, or up to 40% for a newly built home. You need a deposit of at least 2% and a home loan from a Participating Lender for the rest.
Yes. You can buy back some or all of the Government's share over time, or it's repaid when you sell. The amount is always based on the home's value at the time you pay, so the Government shares in any gain or loss.
No. All applicants must be Australian citizens. Permanent residents may be able to use the 5% Deposit Scheme instead.
No. You must live in the home as your principal place of residence while you're in the scheme. Investment properties aren't eligible.
Yes. You can still use stamp duty concessions, grants and exemptions. You can't combine Help to Buy with state or territory shared equity schemes, loans or guarantees for the same purchase.
Once you're conditionally approved, your place is reserved for up to 90 days. Housing Australia may approve an extension of up to another 90 days.
Tell us your income, savings and where you want to buy, and we'll show you how Help to Buy and the 5% Deposit Scheme compare for you — get a free Finance Insight or call 0415 353 927.
General information only, not financial or credit advice. It does not take into account your objectives, financial situation or needs. Scheme rules, income limits, price caps and lender participation can change; information is current as at November 2026. Sources: Housing Australia – Help to Buy, Help to Buy price caps, Participating Lenders. Lending criteria, fees and charges apply. Credit services are provided under Connective Credit Services Pty Ltd, Australian Credit Licence 389328.
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