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Call 1300 00 SREG (7734)

NSW Shared Equity Scheme

See if you Qualify
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Buy your own home sooner

Home ownership is a big challenge facing people living in New South Wales.

Saving for a large deposit can be daunting.

The NSW Government will ease that burden for eligible applicants with the launch of the NSW Shared Equity Scheme Home Buyer Helper on 23 January 2023. 

So, if you’re a single parent caring for children, single aged 50 years or older, or a first home buyer who’s employed as a key worker, check your eligibility and take the next step to owning your own home.

Here's how it works

If you have a 2% deposit, the NSW Government will contribute up to 40% for a new home or 30% for an existing home.

Shared equity means the Government has a percentage share of your home equivalent to what they’ve contributed.

Lenders Mortgage Insurance is not required, potentially saving you additional thousands.

See if you Qualify

Eligibility for the NSW Shared Equity Scheme

  • be at least one of the following:
  • a single parent caring for a dependent child or children,
  • a single person (not married or in a de facto relationship) aged 50 years or older, or
  • a first home buyer who’s employed as a key worker (teacher, early childhood educator, nurse, police officer, paramedic);
  • meet the Bank's lending criteria and be able to afford to repay the loan;
  • live in the property;
  • be an Australian citizen or a permanent resident (including New Zealand citizens with a special category visa), at least 18 years old;
  • not own or part-own any property (including land) in Australia or overseas (and the same applies to your spouse);
  • have a gross annual income that’s not more than $93,200 for singles and not more than $124,200 for couples;
  • buy a home that’s less than $950,000 in Sydney and major regional centres (Newcastle, Lake Macquarie, Illawarra, Central Coast, North Coast of NSW) or less than $600,000 in other regional areas;
  • have not received any other government financial support to buy the property such as the Home Guarantee Scheme;
  • demonstrate your ability to save over time, and have a minimum deposit of 2% of the total property price;
  • be able to pay for all costs associated with purchasing your home such as conveyancing, legal costs, building inspections and stamp duty (if applicable);
  • have financial assets that are under:
  • 30% of the total property price if your income is more than $93,200 p.a.,
  • 45% of the total property price if your income is up to $93,200 p.a.,
  • 65% of the total property price if you are a single person 50 years of age or older;
  • meet ongoing property requirements and report any change in circumstances.
See if you Qualify

How to apply for shared equity scheme?

1. Check you’re eligible

Check your eligibility for the scheme.
Click here

2. Chat to us

Our team of property advisors can answer any questions you may have and see what property options you have available to you under the scheme.

3. Make an appointment

Explore your options available to you and then our team will put you in touch with one of our chanel partners to get your approval.

4. Loan approved and settle on your property.

See if you Qualify

Sydney Real Estate Group

Median rent in Sydney for an 2 bedroom apartment - $697 per week

Property purchase on a brand new property of $800,000
$620* per week in mortgage repayments

"Rent vs Owning " Sydney

Under the NSW Government's Shared Equity Program (Conditions Apply*)

Rent a Apartment

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$697 Per Week

Own your Apartment

$620* Per Week

See if you Qualify

Sydney Real Estate Group

Median rent in Sydney for all houses - $1000 per week

Property purchase on a brand new property of $950,000
$730* per week in mortgage repayments

"Rent vs Owning " Sydney

Under the NSW Government's Shared Equity Program (Conditions Apply*)

Rent a Home

$1000 Per Week

Own your Home

$730* Per Week

See if you Qualify

Sydney Real Estate Group

Type of Properties Available

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Apartments

  • Less Maintenance
  • Amenities
  • Central Location
  • Security
  • Affordable Option
NEW HOUSE copy

Townhouses

  • Value for money
  • Low maintenance
  • Amenities
  • Community
  • Design and inclusions
TOWNHOUSE copy

New Homes

  • Customise the Floor Plan
  • Never lived in
  • Zero maintence
  • Pay less stamp duty on Land and House
  • Personalise your Interior

Frequently Asked Questions

NSW Shared Equity Home Buyer Helper

No, you cannot. You can apply for only one of these schemes at a time.

There are 3,000 places each financial year. The scheme will accept applications for two financial years (2022-23 and 2023-24)

If you’re a single parent or a single who’s over 50 and you currently own property, you will need to sell the property before you submit the final application. Please note that pre-approval expires after three months.

You can buy:

  • A house (townhouse, apartment/unit or duplex)
  • Vacant land with a building contract
  • A property that will be demolished. You will need a building contract

 

Yes. The Shared Equity Home Buyer Helper does not affect the various grants and exemptions available to first-home buyers.

You can still get your grant and stamp-duty concession.

You can make voluntary payments to reduce the state’s interest in your property. The minimum payment is 5% of the property value.

The proceeds from the sale will be paid in the following order:

    • The participating lender
    • The state
    • The participant, subject to any claim on the property

The government will be paid for its interest and proportionally share the gain or loss from the sale of the property.

Clients Feedback

Read what our customers say about us

I discovered the Sydney Real Estate Group on Facebook while researching ways to become a homeowner due to rising rents. Thanks to Tj and his team, I achieved homeownership, something I had never thought possible. What's even better is that I still get to live in Harris Park, which I'm thrilled about. Their consistent follow-ups and willingness to address all my questions have made this journey truly exceptional.Thank you.
Harshida SurveClient
As a Finance Broker, I have been working with Sydney Real Estate Group located in Gregory Hills. The Team are extremely professional, highly experienced and super Motivated in helping Every day Australians find the property of their dreams. They specialise in helping First Home Buyers find a property and own their own home. They aren,t your average Agents. I have delt with alot and come across alot and for most they only care about their sales. The team at Sydney Real Estate Group negotiate and fight on behalf of the buyers and present clients with properties they cant walk away from. Best of all they put the clients best interest their main priority. I highly recommend. Well done Team, you have helped multiple clients of mine purchase their home super fast.
Nerses EmilianClient
I connected with the Sydney Real Estate Group through a Facebook ad and submitted an inquiry. Their prompt response and a warm follow-up call left a lasting impression. They asked us thoughtful questions and leveraged their extensive knowledge to guide us through the process of purchasing our first home. Initially, we believed our options were limited to apartments, but thanks to their invaluable insights, we found ourselves in our very first house in Austral. I highly recommend the Sydney Real Estate Group to anyone seeking not only a home but also an education on the entire process. Their expertise and dedication to helping people get into their first homes are truly commendable. They will provide you with the knowledge and support you need to make informed decisions on your homeownership journey.
Prashant ThakranClient

Sydney Real Estate Group

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