Given up on home ownership? Now is the time to look again at your options.
For South Australians who have put their dreams of home ownership on hold, now is the perfect time to reassess your options.
Part of HomeStart’s role is to respond to the housing market as it changes. As home prices in Adelaide have increased – and by more than in other Australian cities - we made changes to our products and expanded eligibility requirements to ensure that we can continue to help people on their home ownership journey.
Who are we?
Backed by the South Australian Government, our purpose is to make home ownership a reality for more people in more ways. Since 1989, we have helped more than 91,000 South Australians achieve their home ownership dreams with our range of innovative, low deposit loans and additional options.
What changes have been made?
In recent months, we have expanded who is eligible to access our Graduate Loan, as well as increasing the income limits for our additional loans, meaning that more South Australians will be able to access products they previously couldn’t. Meanwhile, changes to our Shared Equity Option have increased the number of suburbs deemed in the affordable range. For South Australians who previously haven’t been eligible for a loan with HomeStart, we encourage you to review your options again.
Who is eligible for a Graduate Loan now?
Our Graduate Loan was originally created to help people with a Certificate III or higher to access home ownership with a lower deposit, from 2% for an established home or 5% for a new build. However, the Graduate Loan has recently been expanded to include:
- Police officers (including those training at the Police Academy),
- Firefighters,
- Permanent Defence Force personnel, and
- Currently employed Technical College Graduates are now eligible.
Which income limits have increased?
Over the past 12 months, there have been several increases to the income limit for our Advantage Loan, where homebuyers can boost their budget by up to $90,000 without increasing their monthly payments. With the increased limit, you now may be eligible for this loan if your household earns up to $110,000 a year after tax, up from $75,000 in September 2025. Likewise, our Starter Loan income limit has also changed. For households with a net income of up to $110,000, you may now be eligible for the Starter Loan, which helps to cover upfront costs such as applicable stamp duty and establishment fees.
How many more suburbs are now within reach for lower-income homebuyers?
To help our customers access more suburbs, the purchase price limit for the Shared Equity Option has increased from $675,000 to $750,000. Previously, only 13 suburbs had a median house value below $675,000. Under the increased $750,000 limit, that number has risen to 36. Likewise, at the more affordable end of the market the number of available suburbs has increased from 49 to 92, making home ownership within reach for many more South Australians.
Your next steps
Whilst we already offered low deposit and additional loan options, with expanded eligibility, increased income limits and more suburbs in reach, it could be a smart move to look at your options again. For questions about your eligibility and how we can help you make your home ownership dream a reality, contact us today.