How the 5% Deposit Scheme works in Queensland

What changed in October 2025?

From 1 October 2025, income caps and annual place limits were removed and property price caps increased. There is no waiting list. Participating lenders still assess eligibility and whether you can repay the loan.

Who can apply?

The first-home-buyer stream has separate applicant, property and loan requirements. This is a summary, not an eligibility decision.

• ›Applicants must be Australian citizens or permanent residents aged at least 18.
• ›Neither applicant may have held a relevant Australian property interest in the preceding 10 years. This includes land and commercial property.
• ›The home must be your residence, not an investment. Joint applications have two borrowers, and both must qualify.
• ›Savings must cover at least 5% but less than 20% of the lender-assessed Property Value. That value may differ from the price. Savings of 20% or more after other purchase costs make the loan ineligible.

Queensland property price caps

The caps are $1,000,000 in Brisbane, the Gold Coast and Sunshine Coast, and $700,000 elsewhere in Queensland. Both price and lender valuation must meet the cap. Separate land-and-build costs must fit together. Confirm the postcode and property with a participating lender.

Applying and keeping the guarantee

Apply through a participating lender, which handles the guarantee application. You remain responsible for all repayments and costs. Owner-occupation and other ongoing conditions apply; losing the guarantee may create LMI or other costs. Read the official information guide before committing.

Combining support

The Queensland First Home Owner Grant and First Home Super Saver Scheme have separate rules. You may be able to use them alongside this scheme; check each program and your lender’s deposit requirements.