First Home Buyers Australia

First Home Buyers in Australia: Grants, Schemes and Assistance Explained

Buying your first home is an exciting milestone, but saving for a deposit and covering upfront costs can feel overwhelming. Fortunately, both the Australian Government and State Governments offer several grants, concessions and schemes designed to help first home buyers enter the property market sooner.

These programs can significantly reduce the upfront costs of purchasing a home by providing cash grants, stamp duty exemptions, low-deposit schemes, and shared equity programs.

This guide explains everything available to assist first home buyers in Australia, including the key grants and concessions offered in each state.

What Is the First Home Owner Grant (FHOG)?

The First Home Owner Grant (FHOG) is a government payment designed to help people buy or build their first home. It was introduced to offset the impact of GST on property purchases and is funded and administered by each state or territory government.

The grant is typically available for new homes, newly built properties or homes that have not been previously occupied, although rules vary depending on the state.

Most states require that:

You are an Australian citizen or permanent resident
You are at least 18 years old
You have never owned residential property before
The property will be your principal place of residence
You live in the property for a minimum period (usually 6–12 months)

Stamp Duty Concessions for First Home Buyers

Stamp duty (also called transfer duty) is often one of the largest upfront costs when buying property.

Many states provide full exemptions or discounts for first home buyers, potentially saving tens of thousands of dollars.

For example:

Some states provide full stamp duty exemptions below certain price thresholds
Concessions apply above those thresholds but below higher limits
In some states, exemptions apply to both new and established homes

These concessions alone can significantly reduce the cost of buying your first property.

First Home Buyer Grants and Concessions by State

Below is a general overview of the key assistance available across Australia.

State / Territory	First Home Owner Grant	Stamp Duty Assistance	Key Benefits
NSW	$10,000 for new homes up to $600k (or build up to $750k)	Stamp duty exemption up to $800k, concession up to $1M	First Home Buyers Assistance Scheme
VIC	$10,000 for new homes up to $750k	No stamp duty up to $600k, concession up to $750k	Shared equity schemes available
QLD	Up to $30,000 (temporary increase for new homes)	Stamp duty exemption up to $700k, concession to $800k	First Home Concession on transfer duty
SA	$15,000 for eligible new homes	Stamp duty concessions available	Additional support for new builds
WA	$10,000 for new homes	Stamp duty exemptions and concessions depending on value	Regional thresholds differ
TAS	$10,000 for new homes	100% stamp duty concession on eligible homes up to $750k	Temporary concessions until 2026
NT	Up to $50,000 HomeGrown Territory Grant	Some stamp duty concessions available	Additional support for established homes
ACT	No FHOG	Stamp duty concessions under the Home Buyer Concession Scheme	Income-tested assistance

These schemes vary widely between states, particularly regarding property price caps and eligibility rules.

Federal Government Support Schemes

In addition to state programs, the Australian Government provides several nationwide schemes designed to help buyers with smaller deposits.

First Home Guarantee (5% Deposit Scheme)

This scheme allows eligible buyers to purchase a home with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI).

The government effectively guarantees part of the loan, allowing buyers to enter the market sooner.

Regional First Home Buyer Guarantee

This program supports buyers purchasing property in regional areas, again allowing a purchase with a 5% deposit and no LMI.

Family Home Guarantee

Single parents with dependents may be able to purchase a home with as little as a 2% deposit under this scheme.

Other Assistance for First Home Buyers

In addition to grants and guarantees, there are several other initiatives that may help buyers.

Shared Equity Schemes

Some state governments allow buyers to purchase a home with the government owning a percentage of the property.

This reduces the loan size and deposit required, making it easier to qualify for finance.

Stamp Duty Relief

Some states provide additional temporary incentives or concessions, especially for new homes or off-the-plan purchases.

Regional Incentives

Certain states offer higher grants or additional concessions for properties purchased in regional areas.

Why Government Schemes Matter

The combination of grants, stamp duty savings and low-deposit programs can reduce the cost of entering the property market by tens of thousands of dollars.

For many buyers, these programs can help with:

Increasing the deposit available
Reducing upfront costs
Avoiding Lenders Mortgage Insurance
Improving borrowing capacity

In many cases, multiple schemes can be used together, significantly improving affordability.

How a Mortgage Broker Can Help

With so many grants, concessions and schemes available, navigating the process can be confusing.

A mortgage broker can help you:

Identify all grants and schemes you qualify for
Structure your home loan to maximise government benefits
Calculate stamp duty savings
Access lenders participating in government guarantee schemes

If you're considering buying your first home, speaking with a broker early can help you understand your borrowing capacity and plan your purchase with confidence.

Disclaimer

This article provides general information only and does not constitute financial or legal advice. Government grants, concessions and eligibility criteria change regularly and may vary based on individual circumstances. Always confirm details with the relevant government authority or speak with a qualified mortgage professional before making financial decisions.