The BuyAssist Program is delivered by the National Affordable Housing Consortium Ltd (‘NAHC’) and its wholly-owned subsidiary, Buy Assist Australia Pty Ltd (‘BuyAssist’).
BuyAssist was established in 2016 to provide a fully-licenced platform for the implementation of the shared equity home ownership model, including to support direct and third party investment.
The BuyAssist Program is similar to shared equity arrangements that have operated successfully in Western Australia, South Australia and the Australian Capital Territory. The major difference is that under the BuyAssist Program, the equity provider does not actually own a percentage of the property (and is not a tenant in common). Instead, the home buyer owns 100% of the property. However, like other shared equity arrangements, the equity provider does receive a share of the increase or decrease in the value of the property if the property is sold in the future.
BuyAssist will work with potential home buyers and provide them the opportunity to be assessed against program eligibility criteria. BuyAssist will seek to match an eligible home buyer with available properties (participation is subject to availability of program properties). BuyAssist will source properties through reputable developers and builders and requires that each property meets quality standards.
BuyAssist is looking to work with multiple investors, developers and governments to make home ownership more affordable and more attainable for more Australians.