First home buyer schemes in every state
If you’re a first home buyer, you may be able to access some government support to buy your first home. The support type and level varies by state, and will depend on where you’re buying, whether the property is new or existing and the value of the property.
Below we’ve compiled a list of the first home buyer schemes and grants for each state and territory, with a summary of what is available and where to find more information.
Eligibility to be a first home buyer
Eligibility for first home buyer grants and schemes may differ depending on the state or territory you are purchasing in, as well as which scheme you are applying for, but general eligibility requirements include:
Be an Australian citizen or a permanent resident of Australia
Be at least 18 years old
Be purchasing the first home you or your spouse/partner have owned or co-owned in Australia, although there are some exceptions
Move into the property within 12 months, and live there for at least six continuous months
Federal (available to all states and territories)
First Home Super Saver Scheme
The First Home Super Saver Scheme allows you to access up to $50,000 from your voluntary super contributions in order to purchase your first home.
Each year, you can make voluntary contributions to your super, in addition to what you receive from your employer. Concessional contributions are contributions that are made into your super fund before tax. They are taxed at a rate of 15% in your super fund (as opposed to being taxed at your marginal income tax rate). From 1 July 2021, the concessional contributions cap is $27,500 in any one year. You can make additional contributions to this from your after-tax income.
These voluntary contributions are then able to be released . You can apply to have up to $15,000 of contributions from any one year to be released in order to purchase your first home. For example, you could make $10,000 in voluntary contributions each year for 5 years, and apply for $50,000 to be released once you are ready to purchase.
For more information and full details of the scheme, visit the First Home Super Saver Scheme page on the ATO website.
First Home Guarantee
The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme to support eligible first home buyers to purchase their first home sooner with a deposit of between 5-20% of the property value, without having to pay lender’s mortgage insurance.
Under the FHBG, 35,000 places are available to eligible first home buyers from 1 July 2022 – 30 June 2023 and is only available with participating lenders. You can find out how to apply here, or schedule a call with us for more information.
To apply for the FHBG, applicants must be:
applying as an individual or couple (married / de facto)
an Australian citizen(s) at the time they enter the loan
at least 18 years of age
earning up to $125,000 for individuals or $200,000 for couples, as shown on the Notice of Assessment (issued by the Australian Taxation Office)
intending to be owner-occupiers of the purchased property
first home buyers who have not previously owned, or had an interest in, a property in Australia
Learn more about the First Home Guarantee here.
First Home Owner Grants
Each state and territory offers a First Home Owner Grant as part of the national First Home Owner Grant (FHOG) scheme. Eligibility and value differs by state/territory, please see below for full details of the First Home Owner Grant in your state or territory, as well as the other schemes and concessions available.
New South Wales
First Home Owner Grant
The NSW First Home Owner Grant offers $10,000 towards the purchase price of a new home. Eligibility requirements include:
You must be 18 years old
At least one applicant must be an Australian citizen or permanent resident
You must not have previously owned a home before 1 July 2000
You must live in your first home within 12 months of the construction or purchase of your home and live in the home for at least six continuous months
The property purchase price must not exceed $600,000 (purchase of new home) or $750,000 (comprehensive home building contract, or owner builder)
Full details and eligibility requirements for the New South Wales First Home Owner Grant are available here.
First Home Buyers Assistance Scheme
The NSW First Home Buyers Assistance Scheme offers a full or partial exemption on stamp duty (transfer duty) to people who are buying their first home with a value of $1,000,000 or less. The First Home Buyers Assistance Scheme is available for both new and existing homes.
If the property is valued at less than $650,000, you can apply for an exemption and pay no transfer duty
If the property is valued between $650,000 and $800,000, you can apply for a concessional transfer duty rate (the discount rate decreases as property value increases).
The scheme also applies to vacant land, where land valued at less than $350,000 is eligible for full exemption and land valued between $350,000 and $450,000 is eligible for a concessional rate.
To see how much you’ll pay, visit the FHBAS Calculator on the Revenue NSW website.
For full details of the NSW FHBAS, visit the Revenue NSW website here.
More Information
Victoria
First Home Owner Grant
The First Home Owner Grant in Victoria offers $10,000 to eligible first home buyers purchasing a new home. To be eligible for the grant the property must be valued at less than $750,000 and not have been previously sold as a place of residence, occupied as a home, leased out or used for short-term accommodation (e.g. Airbnb).
Full details and eligibility requirements for the Victoria First Home Owner Grant are available here.
Land Transfer Duty (Stamp Duty) Exemptions and Concessions
You may be eligible for one or more exceptions or concessions on stamp duty in Victoria depending on your eligibility. This includes:
If the property is valued at less than $650,000, you can apply for an exemption and pay no transfer duty
If the property is valued between $650,000 and $800,000, you can apply for a concessional transfer duty rate (the discount rate decreases as property value increases).
Full details of the exemptions and concessions on stamp duty in Victoria can be found here.
Victorian Homebuyer Fund Shared Equity Scheme
The Victorian Homebuyer Fund (VHF) is the Victorian Government’s shared equity scheme, where the government provides a contribution to the purchase of a home in exchange for an equity share in the property, which participants can buy back over time.
The contribution has a maximum of up to 25% of the purchase price (35% for Aboriginal or Torres Strait Islander homebuyers), reducing the minimum deposit to 5% while avoiding Lender’s Mortgage insurance (LMI).
As the scheme is an equity scheme, the homebuyer fund will share in any gains in the property’s value. The government’s share can be paid out by the buyer over time, but keep in mind that as the value of the property changes, so does the value of the government’s share (the amount you will need to repay to pay out the government’s share). Eligibility for the scheme includes:
Be an Australian or New Zealand citizen, or permanent Australian resident over the age of 18
Earn $128,000 p.a. or less for individuals, or $204,800 p.a. or less for joint applicants (gross annual income)
Not purchase a property from a vendor who is a related person
Find out more about the scheme Victorian Homebuyer Fund Shared Equity Scheme here.
More Information
Queensland
Queensland First Home Owner Grant
The Queensland First Home Owner’s Grant is a government scheme that offers $15,000 towards building or buying a new house, unit or townhouse.
Eligibility requirements include:
You must be 18 years of age and an Australian citizen or permanent resident
You must be buying or building a brand new home
The value of the home must be less than $750,000
It is important to note that the grant is paid per home, not per applicant and that this grant cannot be used in conjunction with any other first home owner grant (e.g. the $10,000 federal government grant).
Full details and eligibility requirements for the Queensland First Home Owner Grant are available here.
First Home Concession
You can claim a first home concession on transfer duty (stamp duty) in Queensland if your property is valued at $550,000 or less. If the property is valued at more than $550,000, you may still be eligible for the home concession, which provides concessions on transfer duty for properties that are acquired as homes rather than investments. To claim the home concession you must:
Move into the property and live there within 1 year of settlement
You must not dispose of the property (sell, transfer, lease) the property before you move in.
If you dispose of the property within 1 year after settlement, you may not be able to keep the full benefit of your home concession.
For full details and requirements, visit the Queensland Government website.
More Information
Western Australia
First Home Owner Grant
The First Home Owner Grant in Western Australia offers $10,000 to eligible first home buyers purchasing a new home (existing homes are not eligible, but substantially renovated homes may be eligible). In Western Australia, the cap on the total value of the home and land varies depending on location:
South of the 26th parallel - value of land and building may be up to $750,000
North of the 26th parallel - value of land and building may be up to $1,000,000
Full details and eligibility requirements for the Western Australia First Home Owner Grant are available here.
First Home Owner Stamp Duty Concession
In Western Australia, first home buyers are exempt from paying any transfer duty on home purchases up to $430,000. For properties with a value between $430,001 and $530,000 concessional rates are available.
For full details visit the WA Government website.
South Australia
First Home Owner Grant
South Australia offers first home buyers a grant of up to $15,000 for new homes. The grant is available on houses, units, townhouses and apartments and must be a new home that has not been previously occupied or sold as a place of residence, which includes a substantially renovated home.
To be eligible for the grant, the value of the property must be less than $575,000 or less and cannot be used in conjunction with any other first home owner grant.
Full details and eligibility requirements for the South Australia First Home Owner Grant are available here.
Tasmania
First Home Owner Grant
Tasmania offers first home buyers a grant of up to $30,000 for new homes. The grant is available on houses, units, townhouses and apartments and must be a new home that has not been previously occupied or sold as a place of residence.
For transactions that commence between 1 April 2021 and 30 June 2023, a $30,000 grant is available to eligible applicants that do one of the below:
Enter into a contract to build a new home (comprehensive building contract); or
Commence laying the foundations for a home as an owner builder; or
Enter into a contract to buy an ‘off the plan’ or new dwelling (being a dwelling that has not previously been occupied or sold as a place of residence).
The building must be completed within 24 months of:
Entering into the contract to build (comprehensive building contract); or
Laying the foundations for an owner builder
The building is classified as complete at the issue date of the occupancy certificate.
To be eligible for the grant, the value of the property must be less than $575,000 or less and cannot be used in conjunction with any other first home owner grant.
Full details and eligibility requirements for the Tasmania First Home Owner Grant are available here.
First Home Owner Duty Concession
The Tasmania duty concession provides a 50% discount on the transfer duty (stamp duty) for first home buyers of an established home. For purchases between 1 January 2022 to 30 June 2023, the maximum eligible value is $600,000.
Other eligibility requirements include that the buyer must not have previously owned a home or received a First Home Owner Grant or Duty Concession in any state or territory of Australia, in addition to other age and residential requirements.
Full details and eligibility requirements for the Tasmania First Home Owner Duty Concession are available here.
Australian Capital Territory
Home Buyer Concession Scheme
Since, 1 July 2019, The Australian Capital Territory has a Home Buyer Concession Scheme (HBCS) instead of a First Home Owner Grant. Under the HBCS eligible buyers are not required to pay any transfer duty (stamp duty). All properties are eligible for the scheme, including both new and existing homes as well as vacant residential land.
Eligibility requirements for the HBCS include:
All buyers of the home or land must be 18 years old
The total gross income of all buyers including partners must not be greater than the relevant income threshold (even if they will not be an owner of the home).
All buyers including any partners must have not owned property in the last two years. A partner includes a spouse, civil union partner or defacto partners
At least one buyer must live in the home continuously for at least one year, starting within 12 months of the date of settlement
Income thresholds and maximum concessions depend on the year and number of dependent children (income threshold only). For example, for couples with no dependent children in the financial year 2022/23:
Total gross income threshold: $170,000
Maximum concession amount: $34,790
Full details and eligibility requirements for the Australian Capital Territory Home Buyer Concession Scheme are available here.
Northern Territory
First Home Owner Grant
The Northern Territory offers first home buyers a grant of up to $15,000 for new homes. The grant is available on houses, units, townhouses and apartments and must be a new home that has not been previously occupied or sold as a place of residence, which includes a substantially renovated home.
To be eligible for the grant, the value of the property must be less than $575,000 or less and cannot be used in conjunction with any other first home owner grant.
Full details and eligibility requirements for the Northern Territory First Home Owner Grant are available here.
Note: all information in this article is up to date as of the time of writing. Please make sure to visit the government websites linked in this article for the most recent information.
