The program helps people achieve home ownership by reducing the costs of buying a home, by sharing these costs with Home Tasmania.

Homes Tasmania is increasing the shared equity contribution from $200 000 to $300 000 or 40 per cent (whichever is the lesser amount) of the purchase price.

The household income limit will also increase by 25 per cent for eligible applicants building or buying brand new homes. Currently these are $93 547 for a single or $107 580 for a couple, these will increase to $116 933 and $134 475 respectively.

These changes will come into effect from 1 July 2024.

MyHome has shown itself to be an incredibly popular program that is supporting Tasmanians to enter private home ownership.

In just under two years since MyHome commenced, 380 households have been assisted into home ownership with 282 buying existing homes, 18 new homes with the remaining 80 purchasing house and land packages (as at 30 April 2024).

MyHome is a program currently delivered by the Bank of us and is eligible for both singles, couples and families.

You can find out more about MyHome by visiting the Homes Tasmania website Homes Tasmania - MyHome