The SA Government has announced an expansion of HomeStart, the State Government-backed lender, aimed at making it easier for South Australians to purchase their own homes. The package includes changes to loan eligibility and income thresholds, as well as broader options for shared equity properties.
The HomeStart Graduate Loan will now be open to firefighters and police, in addition to Technical College graduates. The move is designed to provide more opportunities for people training, living and working in South Australia to enter the property market. Income thresholds for Advantage Loan and Starter Loan customers will also increase to $110,000, expanding access to home finance for a wider range of households.
HomeStart’s shared equity scheme, which helps buyers purchase a portion of a property while the government holds the rest, will be extended to include multi-storey apartment purchases. This is intended to give more flexibility for buyers in urban areas where apartment living is common.
The initiative also aims to simplify the home buying process through greater integration with the HomeSeeker SA website, which lists affordable homes exclusively for eligible South Australians. Linking the site with HomeStart is intended to create a one-stop online platform for prospective buyers, making it easier to access information, explore options and apply for support.
The expansion reflects the government’s efforts to improve housing accessibility and support South Australians seeking to establish themselves in the property market, while encouraging people to live and work in the state.
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