By James Alexander · 2026-02-01T00:00:00+11:00 · 11 min read
A state-by-state breakdown of first home buyer grants, stamp duty exemptions, and federal schemes available in Australia in 2026 — updated with current thresholds.
Buying your first home in Australia is more achievable than many people think — provided you take full advantage of the grants, concessions, and government-backed schemes available. The challenge is that eligibility rules and dollar thresholds vary significantly from state to state, and they change regularly. This guide consolidates everything available to first home buyers in 2026 into a single reference, covering both federal programs and state-specific entitlements.
Grant amounts and thresholds can change at short notice through state budgets and federal policy updates. Always confirm current figures with your broker or the relevant state revenue office before making financial decisions.
The First Home Guarantee allows eligible first home buyers to purchase a property with as little as a 5% deposit, without paying Lenders Mortgage Insurance (LMI). Housing Australia guarantees the difference between the borrower's deposit and 20% of the property value to participating lenders. From 1 October 2025, the scheme was significantly expanded with three major changes: place limits were removed entirely (previously capped at 35,000 per year), income caps were eliminated, and property price caps were increased substantially across all states.
The separate Regional First Home Buyer Guarantee has been folded into the main First Home Guarantee — there is now a single scheme covering both metropolitan and regional purchases. This simplification means all first home buyers apply through the same pathway, regardless of where they are buying.
The removal of place limits and income caps is a significant change. Previously, the scheme ran out of places within months each financial year, leaving many eligible buyers unable to access it. From October 2025, every first home buyer who meets the criteria can apply — there is no longer a race to secure a spot.
The FHSSS allows you to make voluntary concessional (pre-tax) and non-concessional (after-tax) contributions to your superannuation fund, then withdraw those contributions (plus deemed earnings) to put toward a home deposit. You can withdraw up to $50,000 in total contributions. Because concessional contributions are taxed at 15% rather than your marginal rate, this can provide a meaningful tax benefit — particularly for buyers on higher incomes who are disciplined enough to save through super over a two-to-three-year period.
NSW replaced stamp duty with an optional annual property tax for first home buyers under the First Home Buyer Choice scheme, but this was wound back. As of 2026, first home buyers in NSW benefit from a full stamp duty exemption on properties valued up to $800,000, and a concessional rate on properties between $800,000 and $1,000,000. The First Home Owner Grant (New Homes) provides a $10,000 grant for newly built homes valued up to $600,000.
Victoria offers a $10,000 First Home Owner Grant for new homes valued up to $750,000. For established homes, the grant does not apply, but first home buyers receive a stamp duty exemption on properties valued up to $600,000 and a concession on properties between $600,000 and $750,000. Regional first home buyers in Victoria receive a more generous $10,000 grant with the same $750,000 cap, plus access to regional stamp duty concessions.
Queensland provides a $30,000 First Home Owner Grant for new homes — one of the most generous in the country. The property must be valued at less than $750,000 and must be a new build, including house-and-land packages, off-the-plan apartments, and owner-builder constructions. For transfer duty (stamp duty), first home buyers receive a concession on properties valued up to $700,000 for established homes and up to $800,000 for new homes.
WA offers a $10,000 First Home Owner Grant for new homes valued up to $750,000 (or land and building contracts where the total value is under $750,000). For transfer duty, first home buyers receive a full exemption on properties valued up to $430,000, with a concessional rate applying up to $530,000. WA also runs a shared equity scheme called Keystart, which provides low-deposit home loans without requiring LMI, though income and asset limits apply.
South Australia offers a $15,000 grant for new homes valued up to $650,000, with no stamp duty for first home buyers on properties up to $650,000. Tasmania provides a $30,000 grant for new builds up to $600,000 — matching Queensland as the most generous dollar amount. The ACT has abolished stamp duty progressively and replaced it with an annual rates-based system, while also offering the Home Buyer Concession Scheme with no property value cap. The Northern Territory provides a $10,000 grant plus a $50,000 stamp duty concession for established homes.
The single biggest mistake first home buyers make is not checking their eligibility across all available schemes before committing to a purchase. It is not uncommon for buyers to miss out on tens of thousands of dollars simply because they bought a property that sat just above a threshold, or because they did not apply for the FHSSS early enough. Start with a broker conversation at least six months before you plan to buy.
Combine federal and state schemes for maximum benefit. For example, a Queensland first home buyer purchasing a new $700,000 home could access the $30,000 FHOG, a transfer duty concession, and the First Home Guarantee (now with a $1,000,000 price cap in Brisbane) — potentially saving over $60,000 in upfront costs.
At Pendium Finance, we help first home buyers across Australia navigate these schemes as part of our standard service. We will assess your eligibility, model the financial impact, and structure your loan application to take full advantage of every concession available to you. There is no direct cost to you for the conversation — we are paid by lenders, not you. Depending on your eligibility and property details, the savings could be significant.
Written by James Alexander, Director at Pendium Finance — more about the team.
Tags: first home buyer, FHOG, stamp duty exemption, First Home Guarantee, FHSSS, first home owner grant
← Back to all articles | Pendium Finance | Home Loans
Phone: 1300 876 410 | Email: loansupport@pendiumfinance.com.au
Perth: 204/96 Mill Point Road, South Perth WA 6151
Sydney: Bay 5 North, Locomotive Street, Eveleigh NSW 2015
Pendium Finance Pty Ltd (ACN 662 388 838) — Credit Representative 543457, authorised under LMG Broker Services Pty Ltd (Australian Credit Licence 517192).