Minister announces increase in both income and property price caps as part of 2025 budget

• See all our Australian election 2025 coverage
• Get our breaking news email, free app or daily news podcast

Labor will increase the income and price caps for its signature Help to Buy scheme as part of next week’s budget, which it has promised will deliver cost-of-living relief.

Under the shared equity scheme, the commonwealth provides first home buyers with 30% of the purchase price of an existing home, or 40% for a new home.