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Frequently asked questions 


What is the Affordable Home Purchase Scheme?

The Affordable Home Purchase Scheme (the Scheme) assists eligible households to gain entry into Canberra’s residential property market. The Scheme provides assistance to households on low to moderate incomes by creating a supply of homes for purchase at affordable prices.

 

Who is eligible for the Affordable Home Purchase Scheme?

  • You must be at least 18 years old
  • You must be an Australian resident
  • Your household income must be under $100,000 for any number of adults and up to two (2) children under 18. This threshold increases to:
    • $116,000 for households with 3 children,
    • $132,000 for households with 4 children; and
    • $148,000 for households with 5 or more children.
  • Your financial assets must fall below the threshold, and you must intend to live in the home for a minimum of 12 months (owner-occupier).
  • You can’t have previously owned property, either as an individual or as tenants in common (this includes previous property ownership in Australia or overseas).

If you have previously owned property and wish to apply for special consideration, please refer to the below question.

 

What if I don’t meet the eligibility requirements but think I should be able to participate?

If you are 18 years old and an Australian resident but do not meet some of eligibility criteria and believe that you should be considered on the basis of ‘special circumstances’ you can request special consideration. This can be done by writing a brief explanation about your circumstances (and how they relate to the criteria that you do not meet) on your Statutory Declaration and emailing this and your completed application form to affordablehomepurchase@act.gov.au.

 

Am I guaranteed an affordable home if I am confirmed eligible?

Being eligible to participate in the Scheme and choosing to enter a ballot does not guarantee that you will be offered an affordable dwelling.

 

Do I need pre-approved finance to register my interest?

You do not need pre-approved finance to register your interest, however, we strongly encourage you to seek independent legal and financial advice. It is recommended that you understand what your financial capacity is, including how much you might be able to borrow at the time you are found eligible to participate in the Scheme

 

What are the affordable home purchase price thresholds?

The home purchase price threshold is the maximum amount that a dwelling can be sold for based on its size. Thresholds are assessed each year against the Wage Price Index. The thresholds are based on how much a person or household on a low to moderate income can afford to spend on a home purchase, without allocating more than 30% of their gross income on mortgage payments.

 

What if I am not able to get a loan to participate in the Affordable Home Purchase Scheme?

We encourage you to consider other options, such as accessing community or public housing. More information about other housing options is available at act.gov.au/homes housing/home The ASIC MoneySmart website also has useful information about budgeting and saving money. Visit moneysmart.gov.au for more details.

 

Will the ACT Government give me a loan?

The ACT Government is not offering loans as part of the Affordable Home Purchase Scheme. You will be required to make your own financial arrangements and seek a home loan from a financial provider.

 

What are my rights and who do I contact if I am feeling concerned?

You have the right to make your decision about purchasing a property without being unreasonably pressured. You also have the right to be given any relevant information about the property or contract to help you make your decision. If you are feeling uncomfortable about the way discussions with a developer (or their agent) are proceeding, have concerns about information being incomplete or withheld, or are unsure about whether requests being made of you are reasonable, please email affordablehomepurchase@act.gov.au immediately to raise your concerns.

 

What if I don’t find a dwelling within 12 months?

After 12 months, if you are still interested in purchasing an affordable dwelling, your eligibility will be reassessed against the eligibility criteria at that time. We cannot guarantee you will be deemed eligible following a re-assessment, as there may be changes to the eligibility criteria and/ or your personal situation that impact your eligibility.

 

What if my circumstances change?

You must advise of any change in circumstances that may affect your ability to participate. You must also advise if your contact details change.

 

What is a certified copy and why do you need it?

A certified copy is a copy (often a photocopy) of an original document that has on it an endorsement or certification that it is a true copy of the original document. It does not certify that the original document is genuine, only that it is a true copy. We ask for certified copies so that we can make sure we are not being provided copies that have been altered or changed.

 

Who can certify my documents?

The Statutory Declarations Form lists authorised persons who may certify a document. This includes Justices of the Peace, and common professions such as police officers and employees of the Australian Postal Corporation.

 

How do I get a certified copy?

You will need to take the original document, and the copy, to an authorised person. Before certifying the document, the certifier must ensure it is a true copy of the original. The certifier will include a statement on each page of the copy to say that it is a true copy of the original that they have seen, and they will need to sign and date it, and include their qualification (which allows them to certify documents). You may be asked to provide photo ID when having documents certified.

 

 

480 Northbourne Avenue, Dickson ACT 2602
P: 02 6205 0600
F: 02 6207 5101
suburbanlandagency.act.gov.au
GPO Box 158, Canberra ACT 2601
E: affordablehomepurchase@act.gov.au
ABN: 47 223 112 203

 

 

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