Jul 24, 2025
Buying your first home is an exciting milestone, but it can also be financially challenging. Thankfully, the Australian Government and various state and territory governments offer a range of grants, concessions and schemes to support first home buyers. In this article, we will walk you through the most popular grants and incentives, explain who is eligible and help you understand how they work - so you can make the most of them!
First Home Owners Grant (FHOG)
The First Home Owner Grant (FHOG) is a long-standing government initiative designed to make home ownership more accessible for Australians taking their first step into the property market. Introduced on 1 July 2000, the scheme was established to offset the impact of the Goods and Services Tax (GST) on home ownership.
Although it is a national scheme, the funding and administration of the FHOG are managed individually by each state and territory, meaning the amount of the grant, eligibility criteria and application process can vary depending on where you plan to buy or build your first home.
The grant is a one-off, tax-free payment available to eligible first home buyers who are purchasing or building a brand-new residential property as their principal place of residence. In most cases, the property must not have been previously lived in or sold.
To qualify, applicants generally must:
Be at least 18 years of age
Be an Australian citizen or permanent resident
Have never owned a property in Australia that was used as a place of residence
Occupy the home as their principal place of residence for a minimum period
Meet the property value threshold for their jurisdiction
Grant amounts typically range from $10,000 to $30,000, depending on the location and timing. Please note that the FHOG usually applies only to newly built homes or homes under construction - not existing or previously occupied properties.
To see if you are eligible or to obtain more information about the First Home Owner Grant, please go to First Home Owner Grant site and select the state or territory in which you intend to purchase your home.
Stamp Duty/Transfer Duty Exemptions and Concessions
Stamp duty (also called transfer duty) is one of the most significant upfront costs when purchasing a property in Australia. Fortunately, if you're a first home buyer, you may be eligible for exemptions, concessions or discounts on stamp duty - potentially saving you tens of thousands of dollars.
Each state and territory government sets its own rules and thresholds for stamp duty relief. In general, eligibility depends on:
Whether you are a first home buyer
The purchase price or dutiable value of the property
Whether the home will be your principal place of residence
Whether the property is new, established, or vacant land
Some jurisdictions offer full exemptions up to a certain property value, while others offer tiered discounts that phase out as the property price increases. In certain cases, first home buyers may also benefit from a combination of stamp duty concessions and First Home Owner Grants (FHOG).
Here is a quick overview of how it works in different states and territories:
Stamp Duty Relief by State/Territory:
South Australia (SA): As of recent reforms, no stamp duty is payable by eligible first home buyers who purchase a new home or vacant land up to certain thresholds. Check RevenueSA – First Home Buyer Relief
New South Wales (NSW): Full exemption for new or existing homes valued up to $800,000, and concessional rates up to $1,000,000. Learn more from Revenue NSW
Victoria (VIC): Full exemption for properties valued up to $600,000, and discounts available up to $750,000. More details from SRO Victoria
Queensland (QLD): Queensland Government offers various concessions to ease this burden for eligible first home buyers. Visit QLD Government – First Home Concession
Western Australia (WA): First home buyers may receive a full exemption for homes valued and concessional rates in Western Australia. Check WA Government – FHOG and Duty Concessions
Please note that stamp duty rules change regularly and some concessions are time limited. That’s why it’s important to visit official government websites and thoroughly the information before making financial decisions.
Home Guarantee Scheme
The Home Guarantee Scheme (HGS) is an Australian Government initiative designed to assist eligible home buyers in purchasing a home sooner by reducing the deposit required and eliminating the need for Lenders Mortgage Insurance (LMI). Administered by Housing Australia, the scheme has supported over 230,000 Australians in achieving home ownership.
Typically, home buyers need a 20% deposit to avoid paying LMI. Under the HGS, eligible buyers can purchase a home with as little as a 2% or 5% deposit, depending on the specific guarantee, without the need for LMI. Housing Australia provides a guarantee to the lender for the remaining amount, facilitating access to home loans for buyers with smaller deposits.
Types of Guarantees Available: the HGS comprises three distinct guarantees to cater to various buyer circumstances.
First Home Guarantee (FHBG):
Regional First Home Buyer Guarantee (RFHBG):
Family Home Guarantee (FHG):
To explore how the Home Guarantee Scheme can benefit you please visit the housingaustralia.gov.au.
First Home Super Saver Scheme (FHSSS)
The First Home Super Saver Scheme (FHSSS) is an Australian Government initiative that enables first-time home buyers to save for a home deposit within their superannuation fund, benefiting from the tax advantages of the super system.
Allows first home buyers to make voluntary contributions to their superannuation (up to $15,000 per year and $50,000 total) and later withdraw these funds plus earnings to use as a deposit for their first home.
Contributions are taxed at the concessional superannuation rate.
For more detailed information and to assess your eligibility, visit the Australian Taxation Office's FHSSS page.
State/Territory specific Grants and Schemes
South Australia (SA):
HomeStart Finance is a SA Government backed lender dedicated to making homeownership more accessible for South Australians. Established in 1989, HomeStart offers a range of innovative home loan products designed to reduce upfront costs and increase borrowing power, particularly benefiting first home buyers and those with limited savings. For instance, their Graduate Loan allows eligible applicants to purchase a home with as little as a 2% deposit. For detailed information on HomeStart's loan products and eligibility criteria, visit the HomeStart Finance official website
Queensland (QLD):
The regional home building boost grant is a state government initiative to help home owners in regional Queensland into their new home sooner. It will give you $5,000 after the purchase or construction of a brand-new house, unit or townhouse valued at less than $750,000. Check the details from this link.
Victoria (VIC):
The Victorian Homebuyer Fund is a shared equity scheme, making it easier for Victorians to enter home ownership. If you have a 5% deposit, the Victorian Government could contribute up to 25% of the purchase price in exchange for an equivalent share in the property. Check the details here.
This is not an exhaustive list of all government grants and support programs available in different states and territories. We recommend checking your respective State or Territory Government’s housing or revenue office website for the most up-to-date and detailed information. This content is shared for general guidance only - to help you understand the range of benefits potentially available from the Australian Government so you can plan ahead accordingly.
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Disclaimer: The information provided in this blog is not legal, taxation or financial planning advice. It has been prepared without considering your specific needs, objectives and personal financial situation. Before acting on this information, we recommend that you consider carefully if it is appropriate for your needs, objectives and personal financial situation. All loan products are subject to lender criteria and approval. Fees, terms and conditions apply.
