Shared Equity Home Buyer Helper: Your Guide to the New Initiative

If you’re hoping to purchase a property in 2023, we may have some exciting news for you.

You may be eligible for assistance from the NSW government, as part of their new Shared Equity Home Buyer Helper program. Discover more in our guide.

A Quick Overview

Before we learn more about the details of the Shared Equity Home Buyer Helper initiative, let’s begin with a quick overview.

Basically, the Shared Equity Home Buyer Helper is a program set up by the government of New South Wales. It is designed to help eligible individuals across the state get on the property ladder, grow their wealth and achieve stability with the purchase of a home.

This is great news for those who may have been struggling to buy their first home and start their journey of property ownership. Read on to learn more.

What Is the Shared Equity Home Buyer Helper All About?

If you are eligible for the Shared Equity Home Buyer Helper, you will be able to receive a contribution from the NSW government towards the purchase of your home. It looks like this is going to be a sizeable contribution too, and could seriously help New South Wales residents, even those who may have felt that home ownership was an impossible dream until now.

As part of the initiative, the NSW government will contribute up to 30% of the property value to help qualifying individuals purchase an existing home. The scheme will also contribute up to 40% of the total purchase price on new homes.

If you qualify, you may also be able to make the purchase with a deposit of only 2%.

You’ll still need to pay stamp duty and other costs, and you will be responsible for maintaining the property and complying with further reviews going forwards. Despite this, the scheme could be a real lifeline for those struggling to get their foot on the property ladder.

Where Can You Take Advantage of Shared Equity Home Buyer Helper?

The initiative is available right across New South Wales. As it is provided by the NSW government, the helper will not be available to those outside of the state, although the governments of other states and territories may offer their own assistance for home buyers.

Who Can Benefit From the Shared Equity Home Buyer Helper?

To benefit from the helper, you must meet one of the following criteria:

  • You must be a single parent of at least one child who is dependent on you.


  • You must be a single person aged 50 years or older.


  • You must be a key worker — including nurses, midwives, paramedics, teachers and early childhood educators, and police officers — and a first-time home buyer.

In addition, you’ll need to meet further criteria, listed below:

  • For single people hoping to qualify for the initiative, your income must be no more than $90,000 per year.
  • For couples who are key workers and first-time home buyers, you must not have a combined income of more than $120,000.
  • For those looking for assistance in Sydney or other major population centres — including Newcastle, Lake Macquarie, Illawarra, Central Coast, or North Coast — your desired property must not be valued above $950,000.
  • For those looking for assistance in all other areas of NSW, the maximum value will be $600,000.

Successful applicants will also be:

  • 18 years old or older.
  • A citizen of Australia or New Zealand, or a permanent Australian resident.
  • Able to provide 2% of the total property value as a deposit.
  • Currently without a property — you won’t be eligible if you already own land or property in Australia.
  • Unable to make the purchase and sustain the mortgage without the NSW government’s contribution under the scheme.
  • Able to make the purchase and sustain the mortgage with the NSW government’s contribution when working with a participating lender.

When Does the Shared Equity Home Buyer Helper Come Into Effect?

The Shared Equity Home Buyer Helper is available from 23 January 2023.

How Can You Use the Shared Equity Home Buyer Helper?

To find out if you are eligible, and to begin your application, you will need to connect with one of the scheme’s participating lenders. You will be able to begin your application after 23 January.

In order to discover more, or to compare and contrast your different options as part of the initiative, reach out to the Sydney Brokers team today.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.