Buying your first home in Australia in 2026 is a daunting prospect. National median dwelling prices sit above $800,000, and even in the most affordable capital cities, you are looking at $500,000 or more for an entry-level property. The good news is that federal and state governments offer a patchwork of grants, concessions, and guarantee schemes designed to help first home buyers get across the line. The bad news is that the rules vary wildly between states, and navigating the system requires careful research. This guide covers every major scheme available right now.
Federal Schemes: The First Home Guarantee
The biggest federal support for first home buyers is the First Home Guarantee (formerly the First Home Loan Deposit Scheme). Under this scheme, eligible buyers can purchase with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI). The government guarantees the remaining 15% that would normally trigger LMI, potentially saving buyers $10,000 to $30,000 in upfront costs.
For FY2025-26, the property price caps are:
- Sydney: $900,000
- Melbourne: $800,000
- Brisbane: $700,000
- Perth: $600,000
- Adelaide: $600,000
- Hobart: $600,000
- Canberra: $750,000
- Darwin: $600,000
Income limits apply: $125,000 for singles and $200,000 for couples. Places are limited to 35,000 per financial year, and they tend to be snapped up quickly. Apply through a participating lender, not directly through the government.
Use our stamp duty calculator to see how much you might save on transfer duty with first home buyer concessions in your state.
New South Wales
NSW offers a complete stamp duty exemption for first home buyers purchasing properties up to $800,000. For properties between $800,000 and $1,000,000, a concessional rate applies on a sliding scale. Given that Sydney's median house price is well above $1 million, the exemption is most useful for apartment buyers or those purchasing in regional NSW.
The First Home Owner Grant (FHOG) in NSW provides $10,000 for buyers of new homes valued up to $600,000. This is specifically for new-build properties or substantially renovated homes — it does not apply to established homes. The grant is paid on settlement and can be used towards your deposit or costs.
NSW also recently replaced stamp duty with an optional annual land tax for first home buyers under the First Home Buyer Choice scheme, but this scheme was wound back in 2023. Check the current status through Revenue NSW.
Victoria
Victoria provides a stamp duty exemption for first home buyers purchasing properties valued up to $600,000, with concessions available up to $750,000. The state's FHOG is $10,000 for new homes in metropolitan Melbourne and $10,000 for regional Victoria (previously $20,000 for regional, but now equalised).
A unique feature of the Victorian market is the off-the-plan stamp duty concession, which allows buyers of new apartments to pay stamp duty only on the land component rather than the full purchase price. This can save tens of thousands of dollars on high-rise developments. However, Victoria also charges land tax on all investment properties and recently increased the rate, making it important to model total costs carefully.
Our stamp duty calculator covers all states including Victoria's specific thresholds and concessions.
Queensland
Queensland is one of the most generous states for first home buyers. The FHOG is $30,000 for new homes valued up to $750,000 — the highest grant in the country. This applies to newly built homes, units, and townhouses, as well as owner-builder constructions.
Stamp duty concessions in Queensland provide a full exemption for homes up to $700,000 and concessions up to $800,000. Combined with the $30,000 FHOG on a new build, a first home buyer in Queensland could receive up to $50,000 in combined support — a significant leg-up in a state where entry-level new homes can still be found under $600,000 in growth corridors like Ipswich, Logan, and Moreton Bay.
Western Australia
WA offers a FHOG of $10,000 for new homes and a generous stamp duty exemption for first home buyers on properties valued up to $430,000, with concessions up to $530,000. While the stamp duty thresholds are lower than eastern states, Perth's more affordable property market means more buyers can access the full exemption.
WA also has a unique "Keystart" lending program — a state government initiative that offers low-deposit home loans to low and moderate income earners. Keystart loans require as little as a 2% deposit, with no LMI and flexible income criteria. If you qualify, it is one of the most supportive pathways to home ownership anywhere in Australia.
South Australia
SA provides a FHOG of $15,000 for new homes and has abolished stamp duty entirely for first home buyers on all property purchases up to $650,000. Above that threshold, a sliding concession applies up to $700,000.
Adelaide remains one of the most affordable capital city markets in Australia, with a median house price around $750,000. Combined with the FHOG and stamp duty exemption, first home buyers in SA are arguably in the best position of any state to enter the market. Use our salary calculator to work out what mortgage repayments you can afford on your after-tax income.
Tasmania, ACT, and Northern Territory
Tasmania offers a $30,000 FHOG for new homes (matching Queensland as the most generous) and full stamp duty exemptions for purchases up to $750,000.
The ACT has taken a different approach by progressively abolishing stamp duty for all buyers (not just first home buyers) and replacing it with higher annual land rates. First home buyers in the ACT receive a full stamp duty exemption on properties up to $1,000,000, with income limits of $160,000 for singles and $227,000 for couples. The HomeBuilder-style grants have ended, but the stamp duty savings alone can exceed $30,000 on a typical Canberra home.
The Northern Territory offers a FHOG of $10,000 plus unique concessions including the Territory Home Owner Discount, which provides up to $18,601 off stamp duty for any home purchase (not just first homes) and the BuildBonus grant of $12,000 for new constructions.
The First Home Super Saver Scheme (FHSSS)
This federal scheme allows you to make voluntary super contributions of up to $15,000 per year (and $50,000 in total) specifically earmarked for a future home deposit. The contributions are taxed at just 15% inside super (compared to your marginal rate), and when you withdraw them, they are taxed at your marginal rate minus a 30% offset.
For someone in the 30% tax bracket contributing $15,000 per year for three years, the FHSSS can deliver approximately $6,750 in tax savings compared to saving the same amount outside super. It is a genuinely underutilised scheme. Our superannuation calculator can help you model how additional super contributions interact with the FHSSS.
The Bottom Line
Between the First Home Guarantee, state FHOGs, stamp duty concessions, and the FHSSS, a well-prepared first home buyer in Australia can access $30,000 to $60,000 in combined government support depending on their state and circumstances. The key is doing your research early, understanding which schemes you qualify for, and structuring your savings strategy accordingly.
Start with our stamp duty calculator to estimate your transfer duty, then use the salary calculator to work out how much of your after-tax income can go towards saving a deposit. With the right planning, that first home is closer than you think.