Share your great Australian dream of home ownership with the government

Today we examine state by state just some of those on the market already which fit the bill.

Many hurdles will remain for keen country buyers and convincing the banks might be the biggest problem for low income earners.

The Albanese government has promised to implement its Help To Buy policy to help buyers afford to buy in the country.

The fine print

The government will help 10,000 low and middle-income homebuyers enter the housing market each year by taking an equity stake of up to 40 per cent in the house they buy.

It is only available to homebuyers with a taxable income of up to $90,000 for individuals and up to $120,000 for couples.

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The government will provide up to 40pc to build a new home and up to 30pc for an existing home.

The bank has a big say as the homebuyer will need to have a deposit of 2pc and, most importantly, still qualify for a standard home loan.

Housing experts have already warned of the difficulty for low income earners being able to qualify for finance.

The homebuyer needs to live in the home as their principal place of residence.

The homebuyer will not pay rent on the portion of their house owned by the government - taxpayers will recoup their investment when the property is sold.

The incoming government has also promised to continue the existing regional First Home Buyer Support Scheme, and most states have existing schemes of their own although not as generous as Help To Buy.

Country buyers will share the Help To Buy scheme with city buyers as well under the 10,000 applicants cap.

The government has set the following price caps for country homes - NSW $600,000, Victoria $550,000, Queensland $500,000, South Australia $400,000, Western Australia $400,000, Tasmania $400,000.

So what's out there?

NSW (country cap $600,000)

At Corowa on the Murray River is a four-bedroom home on a quiet street listed for $530,000.

In Gloucester, inland from Taree, is an impressive early 1980's built, three-bedroom brick home with views of the Bucketts Range on the market for $550,000-$585,000.

A two bedroom home is for sale at Cessnock for $525,000-$575,000 - it has been used as a holiday rental but would suit a young family.

Further north at Lismore is a split-level, four bedroom home at Goonellabah for $479,000.

Victoria ($550,000 cap)

A two-bedroom "renovator's delight" is on the market at Colac for $349,000-$369,000 which offers subdivision potential.

Sitting on 2.4 hectares (5.85 acres) near Elaine is a three-bedroom old cottage looking for love priced just under the cap at $520,000-$540,000.

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Or closer to the city at Broadford is a four-bedroom first home buyer opportunity for $440,000-$450,000.

Or right on the cap is a four-bedroom brick home at Echuca with room for the caravan or boat listed at $549,000.

Queensland ($500,000 cap)

Offers over $395,000 are invited for an updated Queenslander home at Roma with four bedrooms.

At Booval in Ipswich is a renovated five-bedroom split-level home across 32 squares with offers to start at $499,000.

Near the coast at Prosperine is a four-bedroom home with a spa bath and on a big block for $425,000.

Just out of Townsville at Black River is a three-bedroom home with a pool on an acre offered for "the high $400,000's".

South Australia ($400,000 cap)

At Victor Harbor is a three-bedroom "retro home" or timber cottage on a good sized block for $397,500.

A three-bedroom home is on the market with two living spaces at Port Lincoln for a listed price of $392,500.

A handy price of $280,000 will buy you a two-bedroom, century-old cottage at Murray Bridge.

Or in Loxton, there is a three-bedroom home built in the 1980's which features a large games room for $285,000.

Western Australia ($400,000 cap)

At Ellenbrook just outside Perth is a three-bedroom home with stainless steel appliances from $400,000.

Down south at Harvey buyers are invited to make an offer for a three-bedroom 1920's home to renovate or knock over.

At Toodyay is a renovated three-bedroom home backing onto the Avon River available for $339,000.

Or there is a freshly painted three bedroom unit in Mandurah which has just hit the market for $289,000.

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