Yes - as the scheme is aimed at helping people get onto the property ladder it has limits on purchase prices. These are £450,000 in London and £250,000 outside London.
Shared ownership is also eligible for a government bonus. The scheme property price cap applies to the full sale price of the property rather than just the share initially purchased. As an example if someone is buying a 25% share of their first home for £50,000, then the full sale price is £200,000.