In Australia, government support for first home buyers has never been stronger. Whether you’re building a new home or buying your first property, multiple grants and schemes exist to make the process more affordable and achievable—even if you haven’t saved a full deposit.
Federal Grants and Schemes
1. First Home Guarantee Scheme
This initiative allows eligible first-time buyers to purchase a home with only 5% deposit without paying LMI. It applies to homes under certain price caps and income thresholds.
2. First Home Super Saver Scheme (FHSSS)
This scheme lets you make voluntary contributions to your superannuation and withdraw up to $15,000 (or $30,000 for couples) to use as a deposit on your first home.
State-Level Grants and Concessions
Queensland
- $30,000 First Home Owner Grant for new homes under $750,000
- Stamp duty exemptions or concessions up to $15,925
New South Wales
- $10,000 First Home Owner Grant for new homes under $600,000
- Full stamp duty exemption for homes under $800,000
Victoria
- $10,000 FHOG in metro areas; $20,000 in regional areas
- Stamp duty waived on properties up to $600,000
Western Australia, South Australia, Tasmania
- Grants up to $15,000
- Various duty concessions for eligible first home buyers
Who Is Eligible?
Most grants and schemes require that you:
- Are over 18 and an Australian citizen
- Have never owned a home in Australia before
- Live in the property for a set period (usually 6–12 months)
How Much Can You Save?
Combining federal and state-level grants can offer over $50,000 in assistance in some regions. When you add in LMI savings and stamp duty exemptions, total benefits may exceed $100,000.
Final Thoughts
Buying your first home doesn’t have to feel out of reach. With access to generous grants, deposit schemes, and tax concessions, many Australians are stepping onto the property ladder sooner than expected.
Consult with your state revenue office or a mortgage adviser to check your eligibility and maximize your benefits.