Palm Island Rent-To-Buy Applications Open

Aerial view of Palm Island. Photo sourced: Palm Island Council website

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Applications have opened for a new Rent-to-Buy Home Ownership Scheme on Palm Island, creating a pathway for eligible residents to purchase the social housing they currently live in.

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The scheme, delivered by the Queensland Government in partnership with Palm Island Aboriginal Shire Council, is the first of its kind for the community and fulfils an election commitment to improve opportunities for home ownership on Palm Island.

Participants will enter into a payment agreement with Palm Island Aboriginal Shire Council. Once the agreement is completed, ownership of the home will be transferred through a 99-year home ownership lease.

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The program will begin with 10 households and has the potential to expand over time, with up to 300 council-owned social homes able to be offered through the scheme depending on demand.

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Currently, only 1.4 per cent of Palm Island residents own their own home, compared with the Queensland average of 64 per cent. The initiative has been designed to address barriers to home ownership in remote communities, including the high cost of purchasing a home and limited access to traditional home loans.

The scheme follows extensive consultation with the Palm Island community and is supported through funding in the Queensland Government's 2026-27 Budget.

Palm Island Mayor Alf Lacey welcomed the initiative, describing it as a significant milestone for the community.

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"The Home Ownership Scheme provides a new opportunity to own a home and, at the same time, create wealth for the next generation of our people," Mayor Lacey said.

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"This is not a hand up or a handout. It's better. This government has proven that it can walk side by side with us to create meaningful opportunities for our people, and I didn't think I'd see this in my lifetime."

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