Help to Buy to get more Ipswich locals into home ownership

Blair MP Shayne Neumann with Federal Housing Minister Julie Collins (r) and Queensland Housing Minister Meaghan Scanlon in Ipswich last week. Pictures: Supplied

Somerset region home buyers look set to be big winners from the federal government’s Help to Buy shared equity scheme, which has recently passed the House of Representatives.

Blair MP Shayne Neumann said that Help to Buy would bring home ownership back into reach for many in his electorate, particularly people on low and middle incomes, and renters. 

“It’s fantastic that Queensland is aiming to be the first state in the country to pass and implement this scheme,” Mr Neumann said.

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 Commonwealth legislation to establish Help to Buy in February and the legislation is currently before the Senate. For states to participate in Help to Buy, legislation will also need to be passed for the scheme to operate in their jurisdiction.

Mr Neumann said unfortunately, in the Federal Parliament, the Liberals and Greens teamed up to oppose and delay the Help to Buy legislation.