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Australia First Home Buyer Schemes Guide

the Australian first home buyer schemes and the grants. The guide covers: the First Home Owner Grant (the "FHOG") — the FHOG is the "one-off grant" from the state and the territory governments for the "first home buyers" purchasing or building the "new home" (the "not the established property"); the FHOG amount varies by the state — the "$10,000 in the NSW", the "$10,000 in the VIC", the "$15,000 in the QLD", the "$10,000 in the WA", the "$15,000 in the SA", the "$10,000 in the TAS", the "$10,000 in the ACT"; the eligibility — the "Australian citizen or the permanent resident", the "18 years or older", the "first home buyer (the never owned the property in Australia before)", the "intend to live in the home for at least 6 to 12 months"; the stamp duty concessions (the "transfer duty concessions") — the first home buyers may be eligible for the "full exemption" or the "concessional rate" on the stamp duty for the properties below the "price cap": the "NSW — the $80,000 exemption for the property up to $650,000" and the "sliding scale" for the $650,000 to $800,000; the "VIC — the full exemption for the property up to $600,000" and the "concessional rate" for the $600,000 to $750,000; the "QLD — the full exemption for the property up to $500,000" and the "concessional rate" for the $500,000 to $550,000; the First Home Guarantee (the "FHG — the former the First Home Loan Deposit Scheme") — the FHG allows the first home buyer to purchase the "new or the existing home" with the "deposit as low as 5%" without paying the "Lenders Mortgage Insurance (the LMI)"; the "government guarantee" covers the "15% of the property value" (the "the lender is protected for the difference between the 5% deposit and the 20% threshold"); the income cap — the "single at $125,000" and the "couple at $200,000"; the property price cap — the "$900,000 in the Sydney and the regional NSW", the "$800,000 in the Melbourne and the regional VIC", the "$700,000 in the Brisbane and the regional QLD"; the Family Home Guarantee (the "single parent scheme") — the "single parent with the dependants" can purchase the "new or the existing home" with the "deposit as low as 2%" without the LMI; the "no stamp duty on the purchase" in the "participating states".

First Home Owner Grant Eligibility and the Process

  • Eligibility requirements: The applicant must: (a) be the "Australian citizen or the permanent resident", (b) be "18 years or older", (c) be the "first home buyer" (the "no prior interest in the residential property in Australia"), (d) "live in the home" for the "continuous period of 6 to 12 months" (the "within 12 months of the completion"), (e) purchase or build the "new home" (the "the property has not been occupied or sold as the residential property before"), (f) not exceed the "income cap" (the "varies by the state") and the "property price cap".
  • Application process: The FHOG application is made through the "state revenue office" or the "approved agent" (the "lender, the conveyancer, the solicitor"). The "SRO online portal" (the "NSW Revenue, the SRO VIC, the QRO") processes the application. The grant is paid "at the settlement" (the "for the purchase of the existing new home") or in the "stages" (the "for the building contract").
  • Contract requirements: The "purchase contract" must be for the "new home" (the "the contract to purchase the new home from the builder/developer" or the "owner builder"). The "building contract" must be with the "licensed builder" for the "fixed price" (the "not the cost-plus contract"). The "total value" (the "purchase price or the building cost plus the land value") must be below the "state price cap".

For the First Home Saver Super Scheme (FHSSS), see our First Home Saver Super Scheme Guide →.

State-Specific First Home Buyer Programs

  • NSW Shared Equity Scheme: The "NSW Shared Equity Home Buyer Helper" allows the eligible first home buyers to "co-purchase" the property with the NSW Government. The government holds the "equity share" (the "up to 40% for the new home" and the "up to 30% for the existing home"). The buyer must "buy out the government share" within the "15 years". The eligible buyers — the "key workers" (the "nurses, the teachers, the police, the paramedics") and the "single parents".
  • VIC Homebuyer Fund: The "Victorian Homebuyer Fund" provides the "equity contribution" of the "up to 25%" (the "for the purchase price up to the $950,000 in the Melbourne and the $600,000 in the regional VIC"). The buyer contributes the "minimum 5% deposit". The "no income cap" for the "regional VIC". The "participating lenders" (the "the CBA, the NAB, the Bendigo Bank") process the application.
  • QLD First Home Owner Grant: The QLD FHOG is the "$15,000" for the "new home" (the "the contract signed from the 1 July 2024"). The "property value cap" at the "$750,000". The "concessional stamp duty" for the first home buyers — the "full exemption up to $500,000" and the "sliding scale" for the $500,000 to $550,000. The "Queensland Regional First Home Owner Grant" at the "$15,000 for the new home in the regional QLD".
  • WA and the SA schemes: The WA — the FHOG at the "$10,000 for the new home" plus the "stamp duty exemption for the first home buyers" (the "up to $430,000"). The "Keystart" scheme (the "government-sponsored shared equity"). The SA — the FHOG at the "$15,000" (the "new home" only) and the "stamp duty exemption for the first home buyers" (the "up to $650,000" — the "full exemption" from the 1 January 2025).

For the mortgage and the home ownership costs, see our Mortgage and Home Ownership Guide →.

First Home Guarantee and the Deposit Assistance

  • First Home Guarantee (FHG): The FHG (the "formerly the First Home Loan Deposit Scheme") is available from the "1 July 2025" for the "new financial year". The "35,000 places" are available per year. The "eligible lenders" include the "major banks" (the "the CBA, the Westpac, the NAB, the ANZ") and the "participating non-bank lenders". The "loan terms" — the "maximum 30-year loan", the "principal and the interest repayments", the "owner-occupier only".
  • Regional First Home Buyer Guarantee: The "Regional FHG" is available for the "regional property purchase" (the "the property located outside the capital cities"). The "same eligibility" as the FHG — the "5% deposit", the "income cap", the "property price cap". The "price cap difference" — the "lower price caps than the FHG" for the "regional areas". The "permanent resident" and the "citizen" are eligible.
  • Victorian Homebuyer Fund expansion: The "expanded VHF" from the "1 July 2025" includes the "key worker priority" (the "nurses, the midwives, the social workers, the teachers"). The "minimum deposit" reduced to the "3.5%" for the "eligible workers". The "maximum equity share" increased to the "30%" for the "key workers". The "no ongoing rent" or the "interest" on the "government share".

For the rental property and the property investment options, see our Property Tax Guide →.