“Eligibility hinges on income, property price, and ownership status. The income cap is $100,000 for singles and $160,000 for couples.”
The Help to Buy scheme is a federal program available nationally, including in Victoria. Eligibility is determined by income, property ownership status, and the property purchase price.
The Victoria-specific eligibility picture
You must have a gross annual income of $100,000 or less (singles) or $160,000 or less (couples and single parents). You must not currently own property anywhere in Australia. You must intend to live in the property as your principal place of residence. You must be an Australian citizen aged 18 or over.
Property price caps in Victoria
In Melbourne and Geelong, the property price cap under Help to Buy is $950,000 for existing properties and $950,000 for new builds. In other Victorian regional areas, the cap is lower — confirm the specific limit for your target location with Housing Australia before making purchasing decisions, as caps are subject to revision.
The Victorian Homebuyer Fund alongside Help to Buy
Victoria also operates its own shared equity scheme — the Victorian Homebuyer Fund. The two schemes are similar in structure but have different eligibility criteria, price caps, and equity percentages. You cannot use both simultaneously — but assessing which is more advantageous for your specific situation is worth doing before committing to either.
How to apply in Victoria
Applications are made through participating lenders, not directly to Housing Australia. Check which lenders on the Help to Buy panel are actively processing applications in Victoria — panel availability varies and some lenders have waiting lists for the scheme.
→ You may wish to speak with a licensed mortgage broker to assess your personal circumstances. This is general information only. Individual circumstances vary and scheme details change regularly. Verify current eligibility, caps, and terms with official sources before making decisions. Speak with a licensed mortgage broker for advice tailored to your situation. All loans are subject to lender approval.
Sources: Housing Australia, Australian Government Help to Buy Scheme eligibility (firsthomebuyers.gov.au); State Revenue Office Victoria, Victorian Homebuyer Fund (sro.vic.gov.au); Housing Australia, Help to Buy Property Price Caps.
