In 2022, over 1 in 6 Aussie homebuyers got a first home buyer grant. This support added up to more than $1 billion for the property market. Each state and territory (except the ACT) offers these grants to help first-time buyers.
Queensland gave a $30,000 boost, while New South Wales and Victoria offered $10,000. These grants vary across the country. They meet the different needs of Aussie home seekers in each state.
Major Highlights
- First home buyer grants in Australia range from $10,000 to $30,000, depending on the state or territory
- The grants are typically available for new home purchases or constructions, helping boost buyer deposits
- Each state and territory (except the ACT) offers its own version of the grant with specific eligibility criteria and property value limits
- Queensland recently increased its grant to $30,000, while NSW and Victoria offer $10,000
- The grants are part of a broader strategy to support Aussies in achieving their homeownership dreams
Buying your first home is both thrilling and challenging. Luckily, the Australian government has grants and programs to help first-time buyers. These can help with your down payment assistance and make getting your first property easier.
What Qualifies as a First Home Purchase?
First home purchases usually mean new or greatly renovated homes that haven’t been lived in before. This means the property must be either completely new or have been fully renovated, making it like a new home.
Benefits and Financial Support Available
The grants can offer a lot of help, from $10,000 to $30,000. First-time buyers might also get stamp duty concessions or waivers. This can lower the costs of buying your first-time homebuyer programs.
Grant Application Timeline
The time frame for applying for these grants is key. Most places need you to apply within 12 months of buying the property. The grant is usually given to the lender at settlement and added to your home loan. If you’re building a new home, the grant is approved when your first loan payment is due.
It’s important to know the rules and deadlines in your area. This way, you can get the most out of these mortgage assistance programs and achieve your dream of owning a home.
“The First Home Owner Grant was introduced in Australia to offset the effect of GST on house ownership and has evolved into a key economic stimulus tool.”
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Eligibility Requirements for Australian Home Buyers
The affordable housing initiatives and low-income housing support programs in Australia help first-time home buyers. They offer grants and incentives. To get these benefits, you must meet certain criteria set by state and territory governments.
To apply, you must be at least 18 years old. You also need to be an Australian citizen or permanent resident. Plus, you can’t have owned a property in Australia before.
- Purchase price limit of $600,000 for newly built homes, townhouses, apartments, or units.
- Total combined cost for vacant land and building contract not to exceed $750,000.
- Occupancy requirements: 6 continuous months for contracts signed before 1 July 2023, 12 continuous months for contracts signed on or after 1 July 2023.
You must plan to live in the property as your main home for a while. This is usually 6 to 12 months. This rule helps ensure the grants help those who really want to stay in their new home.
State/Territory | Maximum Property Value | Occupancy Requirement |
---|---|---|
New South Wales | $600,000 for new homes, $750,000 for new home constructions | 6 months |
Queensland | $750,000 | 6 months |
Australian Capital Territory | Varies based on program | Varies based on program |
In places like the Australian Capital Territory, other things like income and family size might also matter. It’s key to check the exact rules in your area. This way, you can make sure you qualify for these helpful programs.
“The affordable housing initiatives and low-income housing support programs in Australia offer a range of grants and incentives to assist first-time home buyers.”

By knowing and following these rules, first-time home buyers in Australia can benefit from these affordable housing initiatives and low-income housing support programs. This makes owning a home more possible for them.
New South Wales and Victoria Grant Programs
Homebuyers in New South Wales and Victoria have access to government grants. These programs help make owning a home more affordable. They include the First Home Owner Grant and stamp duty concessions for first-time buyers.
NSW First Home Owner Grant ($10,000)
The New South Wales government gives a $10,000 grant to eligible first home buyers. This applies to new homes worth up to $600,000 or building a new property up to $750,000. It helps with the deposit or other costs of buying a first home.
Victorian First Home Owner Grant ($10,000)
The Victorian government also offers a $10,000 grant for first-time buyers. It’s for new homes worth up to $750,000. This grant can be a big help for Aussies starting their property journey.
Stamp Duty Concessions
Both New South Wales and Victoria have stamp duty exemptions and discounts for first home buyers. In NSW, there’s no stamp duty for homes up to $800,000. There are discounts for homes between $800,000 and $1 million.
In Victoria, there’s a full stamp duty exemption for homes up to $600,000. There are concessions for homes between $600,000 and $750,000. These real estate subsidies and home buyer tax credits show the states’ support for first-time homeowners.
Queensland and Western Australia Support Schemes
Australia’s first home buyer grants and incentives change by state. They help those buying their first property. In Queensland, the First Home Owner Grant has been doubled to $30,000. This is for new home contracts after 20 November 2023. It’s for homes valued up to $750,000, helping Aussies start their property journey.
Queensland also waives stamp duty for first home buyers. This applies to homes under $700,000 or vacant land under $350,000. This financial help makes buying a home easier for many.
In Western Australia, there’s a $10,000 grant for new or renovated homes. The property value limit changes by location. In Perth, it’s $750,000, and north of the 26th parallel, it’s $1 million. Western Australia also offers stamp duty relief for homes up to $450,000 and land up to $300,000. There are concessions for more expensive properties too.
State | First Home Buyer Grant | Stamp Duty Concessions |
---|---|---|
Queensland | $30,000 for new home contracts after 20 November 2023 | Stamp duty waived for properties under $700,000 or vacant land under $350,000 |
Western Australia | $10,000 for new or substantially renovated homes | Stamp duty relief for homes up to $450,000 and land up to $300,000 |
These first home buyer grants and homeownership incentives in Queensland and Western Australia show local governments’ support. They help Australians achieve their dream of owning a home.

“These grants and concessions make a significant difference in helping first-time buyers take that first step onto the property ladder.”
South Australia and Tasmania Grant Options
In Australia, first-time homebuyers in South Australia and Tasmania have great options. These states offer grants and incentives to help with buying a home. They make owning a home more achievable for Aussies starting out.
South Australian New Home Grant ($15,000)
South Australia gives a $15,000 grant to first home buyers. This is for buying or building a new home. There’s no limit on the home’s value to get this help.
Also, the state doesn’t charge stamp duty for new homes. This lowers the upfront costs of buying a property.
Tasmanian First Home Support ($10,000)
Tasmania offers a $10,000 grant for first-time homebuyers. This grant is for new homes or building projects. There’s no price limit on the property.
Tasmania also doesn’t charge stamp duty for homes up to $750,000. This makes buying a home more affordable.
Regional Considerations
South Australia and Tasmania consider regional factors for first home buyers. Tasmania’s grant has no price limit, helping in expensive areas. South Australia’s stamp duty exemption reduces costs in new developments.
These state property purchase rebates and real estate subsidies are big helps. They assist first-time buyers in achieving the dream of homeownership.
Northern Territory and ACT Home Buyer Support
The Northern Territory is introducing a new grant scheme to help first-time homebuyers. Starting in October 2024, eligible residents can get a $50,000 grant for a new home. They can also get a $10,000 grant for an existing property. This change is to help more people buy homes.
In the Australian Capital Territory (ACT), a new program is replacing the first home owner grant. The Home Buyer Concession Scheme (HBCS) offers stamp duty concessions. These concessions depend on the buyer’s income and family size. This program helps more people buy homes in the ACT.
Location | Grant/Concession Program | Grant Amount | Eligibility Criteria |
---|---|---|---|
Northern Territory | First Home Owner Grant (FHOG) | $50,000 for new homes $10,000 for existing homes | Australian citizens, first-time buyers, home valued under $600,000 |
Australian Capital Territory (ACT) | Home Buyer Concession Scheme (HBCS) | Stamp duty concessions based on income and dependents | Applicable to both new and established homes, with income and family size considerations |
These new programs in the Northern Territory and ACT show a strong commitment to helping first-time homebuyers. They offer big grants and special concessions. These efforts aim to make owning a home more achievable for Australians.

The Application Process
First home buyer grants in Australia are applied for through banks or state revenue offices. It’s important for Aussie first-time buyers to know the specific needs and deadlines in their area. This ensures a smooth and timely application process.
Applications need to be made within 12 months of buying a home. You’ll need to provide proof of identity, property contracts, and evidence of meeting eligibility. Many states have online portals for easier application, helping first-time buyers get mortgage and down payment help.
It’s best to apply as soon as you’ve settled on a home. This way, you can get the grant funds quickly. With the right help, Aussies can find the financial support needed to own a home.
The FHOG is one of the reasons property is unaffordable. Government has no business manipulating house prices.