property
The shared equity scheme explained step by step
Central Coast buyers can use the state scheme to cut their deposit and share ownership with the government on homes under set price caps.
How we reported this
First-home buyers on the Central Coast gained clearer access this month to the NSW Shared Equity Scheme after the government updated eligibility thresholds on 1 July 2026.
Affordability pressures have sharpened locally because the NSW median house price sits near $820,000 while new dwelling approvals fell sharply in the first half of the year, pushing more young buyers toward shared-equity options rather than full mortgages.
How the scheme works on the coast
Under the scheme the state takes a 30 per cent equity stake in established homes or 40 per cent in new builds, allowing buyers to borrow only for the remaining portion. Applicants must live in the property as their principal residence, earn under $100,000 for singles or $160,000 for couples, and purchase within the Central Coast price cap of $950,000. The government share is repaid when the home is sold or refinanced, with no interest charged on that portion.
Buyers start by checking eligibility on the NSW Revenue website, then obtain pre-approval from a participating lender such as Commonwealth Bank or Westpac. A valuation follows, after which contracts can be exchanged on properties in suburbs including Gosford or Terrigal. Stamp duty concessions still apply on top of the equity support.
Next steps for local applicants
Prospective buyers should attend the next free information session hosted by Central Coast Council at the Gosford Library on 22 July. They can also visit the Service NSW centre in Erina to lodge documents in person. Early preparation of payslips, savings statements and identification cuts approval times from eight weeks to around five.
Those who secure a place under the scheme must still budget for ongoing costs such as council rates on Avoca Beach or strata fees in waterfront units at Terrigal, because the government stake does not cover maintenance or insurance.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.