“The Melbourne cap is $950,000 for 2026, covering many house and unit types across the city.”
Property price caps under the Help to Buy scheme determine the maximum purchase price at which you can use the scheme. In Melbourne, the cap reflects the city’s housing costs while still being designed to serve buyers in genuinely affordable price ranges.
Current caps for Melbourne and surrounding areas
Melbourne (capital city): $950,000. Geelong: $950,000 (as a regional centre). Other Victorian regional areas: lower caps apply — confirm with Housing Australia for the specific area you’re targeting. These caps apply to both new builds and established properties.
What the $950,000 cap covers in Melbourne
Melbourne’s median house price is currently tracking around $900,000–$950,000 depending on suburb. A $950,000 cap means most mid-ring Melbourne houses are accessible under Help to Buy. Units and apartments are accessible at a wider range of price points. Inner-city premium properties and prestige suburbs will typically exceed the cap.
How the cap interacts with the equity contribution
The government contributes up to 30% of an existing property’s purchase price. On a $950,000 property, the maximum government contribution is $285,000. That leaves you financing $665,000 — potentially on a 2% deposit of $19,000. The loan repayment is calculated on that $665,000 figure, not the full purchase price.
Caps are subject to change
Property price caps under government schemes are reviewed periodically. The figures here reflect the settings at the time of writing. Confirm current caps with Housing Australia before making a purchasing decision. All scheme settings can change over time.
→ 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, Help to Buy Property Price Caps (firsthomebuyers.gov.au); State Revenue Office Victoria, Homebuyer Fund Price Caps and Locations, updated March 2026 (sro.vic.gov.au); ASIC MoneySmart, Shared Equity Schemes 2025.
