First Home Buyer Grants Australia 2026: Every State Scheme Explained

Australia has never offered more support to first home buyers than it does in 2026. Between federal deposit schemes, shared equity programs, state cash grants, and stamp duty waivers, an eligible buyer can access tens of thousands of dollars in combined benefits — often without realising everything they qualify for. The challenge is knowing what each scheme actually does, which ones you can combine, and what the real eligibility rules are once you move past the marketing headlines.

This guide covers every major grant and scheme available to Australian first home buyers in 2026, with accurate figures drawn directly from Housing Australia and the Australian Taxation Office. It explains how each program works in plain language, what traps to avoid, how to stack schemes together, and what a real purchase looks like with everything applied.

How Much Support Is Actually Available in 2026?

The headline figure sounds impressive. Depending on your state, purchase type, and income, a first home buyer in 2026 can potentially access over $60,000 in combined benefits through grants, stamp duty waivers, LMI savings, and tax concessions. But that number only applies if you buy the right type of property, in the right price range, and correctly sequence your applications.

Breaking it down, the support comes from four distinct buckets. Federal deposit schemes reduce how much you need upfront and eliminate LMI costs. The First Home Super Saver scheme reduces the tax you pay while saving. State cash grants provide a direct payment, but almost always on new builds only. And state stamp duty exemptions reduce your upfront transaction cost on both new and established homes within price thresholds. Each bucket has its own eligibility rules and timing requirements — and stacking them incorrectly can mean missing out on one or more.

Before running through every scheme, anchor to your actual savings target. Use CalcPhi's Stamp Duty Calculator to model the exact duty payable in your state — with first home buyer concessions applied automatically — and CalcPhi's First Home Buyer Calculator to build a complete upfront cost picture for your target price range.

Federal Scheme 1: The Australian Government 5% Deposit Scheme

The biggest single piece of support available to most first home buyers is the ability to purchase with a 5% deposit without paying Lenders Mortgage Insurance. On a $700,000 property with a 5% deposit, LMI would typically cost $17,000–$22,000 and be added directly to your loan balance. The 5% Deposit Scheme eliminates that cost entirely.

Housing Australia administers the Scheme on behalf of the Australian Government. Rather than giving you cash, the government provides a guarantee of up to 15% of the property value to your lender. This covers the gap between your 5% deposit and the 20% threshold that normally triggers LMI. You own 100% of the property from day one — the government holds no equity stake.

The scheme was fundamentally expanded from 1 October 2025. The changes removed three previous limitations in one go: income caps have been eliminated entirely (previously $125,000 for singles and $200,000 for couples), place limits have been removed so there is no longer an annual cap or waitlist, and property price caps have been significantly raised. In Sydney, the cap is now $1,500,000. In Melbourne it is $950,000, Brisbane $1,000,000, and Perth $850,000. Regional price caps also increased.

You cannot apply directly to Housing Australia. Applications go through a participating lender — currently more than 30 banks and non-bank lenders are on the approved panel, including CBA, NAB, and Westpac. The lender assesses your home loan application, confirms your eligibility, and submits it to Housing Australia. If approved, the guarantee is issued alongside your loan.

One important nuance: the guarantee stays in place until your loan principal drops to 80% or less of the property value based on scheduled repayments, or until the loan is fully repaid. You cannot refinance away from the scheme without consequences unless your LVR has reached the 80% threshold.

Who qualifies for the 5% Deposit Scheme?

You must be an Australian citizen or permanent resident aged 18 or older. You must be a first home buyer, or someone who has not owned residential property in Australia in the previous ten years. The property must be your principal place of residence — it cannot be an investment property. You need to have genuinely saved a minimum 5% deposit; the scheme does not accept gifted deposits from family as the sole source. Couples, friends, and siblings can apply together, but all applicants must meet the eligibility criteria individually.

Want to know what your repayments will look like once you buy with a 5% deposit? Use CalcPhi's Mortgage Calculator to model monthly repayments at any loan size and interest rate before you commit to a property.

Federal Scheme 2: The Family Home Guarantee (2% Deposit for Single Parents)

Single parents and single legal guardians with at least one dependent child can purchase with a deposit as low as 2% under the Family Home Guarantee, also administered by Housing Australia. The government guarantees up to 18% of the property value — covering the larger gap between 2% and 20%. LMI is not payable.

An income cap of $125,000 applies. Unlike the 5% Deposit Scheme, the Family Home Guarantee is available to both first home buyers and previous homeowners — provided you do not currently own property and will not have any other property interest once the purchase settles. This makes it particularly valuable for people re-entering the market following separation or divorce. Property price caps align with the expanded thresholds that took effect from October 2025.

Federal Scheme 3: Help to Buy — Shared Equity (Launched December 2025)

Help to Buy is the most structurally different scheme available in 2026. Where the 5% Deposit Scheme simply avoids LMI, Help to Buy involves the government actually co-purchasing the property with you. Housing Australia launched applications in December 2025, making it a new program still in early rollout.

Under the scheme, the government contributes up to 40% of the purchase price for new builds and up to 30% for existing homes. This equity contribution directly reduces the size of your loan. A buyer purchasing a $600,000 existing property with 30% government equity would only need to borrow $420,000 instead of $570,000. With a 2% deposit ($12,000), the monthly repayment difference is substantial.

The trade-off is explicit and permanent. The government holds its equity stake for as long as you own the home. When you sell or refinance to buy out the government's share, you repay the proportionate current market value — including any capital growth. If your $600,000 property sells for $800,000, the government's 30% share is now worth $240,000, not the original $180,000 it contributed.

Income thresholds are means-tested: singles must earn under $100,000 per year and joint applicants or single parents under $160,000 combined. There are 10,000 places per year across four years, available nationally. You can find eligibility criteria and apply through firsthomebuyers.gov.au.

Help to Buy cannot be used alongside the 5% Deposit Scheme — you must choose one. The decision comes down to what you value more: owning 100% of your home from day one (5% Deposit Scheme) or having the smallest possible deposit and loan repayments (Help to Buy). Both can be combined with state grants and stamp duty concessions, as these are separate programs.

Federal Scheme 4: First Home Super Saver (FHSS) Scheme

The FHSS scheme is not a grant — it is a tax-advantaged savings mechanism. But it is one of the most financially powerful tools available to first home buyers who start using it early enough. As detailed on the ATO's official FHSS page, the scheme allows you to make voluntary contributions to your superannuation fund and later withdraw those contributions — plus associated earnings — specifically for a first home deposit.

You contribute voluntarily to super via salary sacrifice (before-tax). These concessional contributions are taxed at just 15% inside super, rather than your marginal income tax rate. You can contribute up to $15,000 in any single financial year. The total you can withdraw across all years is capped at $50,000 per person — or $100,000 for couples applying jointly.

When you withdraw, the assessable FHSS amount is included in your taxable income for that year, but you receive a 30% tax offset on the assessable portion, which the ATO applies automatically. On a $90,000 salary, contributing $15,000 per year through FHSS saves approximately $5,100 in tax per year compared with saving the same amount in a bank account. Over two years of contributing, that saving compounds to over $10,000 — money directly added to your deposit.

There are critical timing requirements. You must request and receive an FHSS determination from the ATO before you sign any property contract. The ATO then issues a release authority to your super fund, which releases the funds to the ATO, which withholds the applicable tax and pays the net amount to you. This entire process takes 15–25 business days. Leaving the release request until after you have found a property is a very common and costly mistake — there is no workaround if you have already exchanged contracts. You can only access the FHSS scheme once in your lifetime.

The FHSS scheme can be used alongside both the 5% Deposit Scheme and state-based grants — these are independent programs with no interaction rules between them.

State-by-State Grants and Stamp Duty Concessions

Federal schemes handle the deposit and savings side. State grants and stamp duty concessions handle the transaction cost side. These vary significantly by state — both in generosity and in the fine print around eligible property types and price caps.

New South Wales

NSW offers a $10,000 First Home Owner Grant for new homes or substantially renovated homes with a purchase price at or below $600,000, or a total value (land plus build) at or below $750,000. The grant is not available for established properties.

On stamp duty, NSW provides a full exemption for first home buyers on properties valued up to $800,000 under the First Home Buyers Assistance Scheme. A sliding concession applies for properties valued between $800,000 and $1,000,000. These thresholds apply to both new and established homes — the grant is new-build only, but the stamp duty relief is broader.

Victoria

VIC offers a $10,000 First Home Owner Grant, but only in regional Victoria — metropolitan Melbourne buyers do not qualify. The property must be a new or substantially renovated home valued up to $750,000.

Stamp duty in Victoria is waived entirely for homes valued up to $600,000. A concession applies for properties between $600,000 and $750,000. If you are buying near the $600,000 threshold, the exact purchase price matters enormously — buying at $601,000 instead of $599,000 could trigger duty of several thousand dollars rather than zero.

Queensland

Queensland currently has one of the most generous first home buyer grant packages in the country. The First Home Owner Grant pays $30,000 for new homes or substantially renovated homes with a contract value up to $750,000, for contracts signed between 20 November 2023 and 30 June 2026. After 30 June 2026, the grant is expected to revert to $15,000 — so timing matters if you are building in Queensland.

Transfer duty (Queensland's term for stamp duty) is waived in full for first home buyers on homes valued up to $700,000. A concession applies up to $800,000. The duty concession applies to both new and established homes.

Western Australia

WA offers a $10,000 First Home Owner Grant for new homes valued up to $750,000. For contracts to build, the combined land and construction contract value must not exceed $750,000.

Stamp duty in WA is waived for first home buyers purchasing properties up to $450,000. A sliding concession runs from $450,000 to $600,000. Above $600,000, full duty applies. This threshold is below the current median house price in Perth, which means many WA buyers will pay some duty despite the concession.

South Australia

SA offers a $15,000 First Home Owner Grant for new residential properties, with no upper purchase price limit — making it accessible for more buyers than in other states. There is no stamp duty exemption for first home buyers in SA, though off-the-plan apartment purchases may attract a separate stamp duty concession.

Tasmania

Tasmania currently offers a stamp duty exemption for first home buyers on properties valued up to $750,000, running until 30 June 2026. This exemption applies to established homes as well as new builds. A First Home Owner Grant is also available for new builds — check current eligibility at sro.tas.gov.au as the amount and terms are subject to revision.

Australian Capital Territory

The ACT does not offer a separate First Home Owner Grant but provides a stamp duty concession through the Home Buyer Concession Scheme (HBCS). Eligible buyers can access a full duty concession on any property type — new or established — subject to income and asset thresholds. The ACT's approach is means-tested and broader in property type eligibility than most other states.

Northern Territory

The NT offers a $10,000 First Home Owner Grant for new homes, with no property price cap — the most flexible threshold in the country. There is also a stamp duty concession available to first home buyers on properties up to a set value threshold. Check the NT Revenue Office for the most current figures, as these are reviewed periodically.

How to Stack Schemes Together

The most financially effective first home purchases in 2026 use multiple schemes simultaneously. The cleanest combination for most buyers is: FHSS to build the deposit tax-efficiently inside super, then the 5% Deposit Scheme to purchase with that deposit and no LMI, plus any applicable state stamp duty exemption to reduce upfront transaction costs. If buying a new home in Queensland, layer the $30,000 FHOG on top. None of these three programs interfere with each other — they solve different problems at different stages of the purchase process.

For lower-income single parents, the equivalent stack is: FHSS for tax-efficient deposit savings, the Family Home Guarantee for the 2% deposit and no LMI, plus applicable state stamp duty concessions and FHOG if buying new.

Help to Buy cannot be stacked with the 5% Deposit Scheme, but it can be combined with state grants and duty concessions, since those are administered separately by state governments.

What does not stack: you cannot receive the FHOG if you or your co-purchaser have previously received it anywhere in Australia, or if you have previously owned residential property. If your partner has previously owned a home, you may still be eligible for the federal deposit schemes as a solo applicant, but not for the state grant. Get advice from a mortgage broker before assuming eligibility — the interactions between schemes and prior ownership history are more nuanced than most people realise.

Worked Example: Combining Schemes on a $680,000 Brisbane Purchase

Real numbers make the stacking logic concrete. Here is how a first home buyer named Marcus — 31, earning $82,000 per year as a nurse in Brisbane — approaches his purchase in 2026.

Marcus's starting position. Marcus has been salary sacrificing $1,000 per month into super for 18 months under the FHSS scheme. His contributions total $18,000, giving him an eligible FHSS release amount of approximately $17,400 after tax. He also has $22,000 in a high-interest savings account. Total accessible funds: approximately $39,400.

The property. Marcus finds a newly built townhouse in Brisbane's inner north priced at $680,000. As a new build under $750,000, it qualifies for the Queensland First Home Owner Grant of $30,000. Transfer duty is waived in full (below the $700,000 threshold).

Applying the 5% Deposit Scheme. His 5% deposit is $34,000. He uses his $17,400 FHSS release plus $16,600 from savings to cover it. The 5% Deposit Scheme removes LMI, saving Marcus approximately $20,000 that would otherwise be added to his loan. His loan amount is $646,000.

Adding the FHOG. The $30,000 FHOG is paid directly to his conveyancer at settlement and applied to reduce his loan balance. After the grant, his effective loan drops to $616,000.

Without any government support, Marcus would have needed approximately $90,000 upfront for a 20% deposit, plus LMI, plus transaction costs — more than double what he actually spent.

The Most Common Grant and Scheme Mistakes

Missing the FHSS timing window. You must obtain an FHSS determination from the ATO before you sign your property contract. The release takes 15–25 business days after you request it. Many buyers request the determination after exchanging contracts, which renders them ineligible. There is no discretion — the ATO is clear on this requirement.

Buying just over a stamp duty threshold. In Victoria, the difference between $599,000 and $601,000 can mean tens of thousands in additional duty — a gap that no grant can offset. Always check the exact threshold for your state before setting your maximum bid price.

Assuming the FHOG applies to established properties. It does not — in any state. The grant is specifically for new builds and substantially renovated homes. If you are buying an established property, your available support is the 5% Deposit Scheme or Help to Buy, and state stamp duty concessions only.

Applying for Help to Buy and the 5% Deposit Scheme simultaneously. These are mutually exclusive — Housing Australia will not approve both. Decide which scheme suits your circumstances before you approach a lender.

Not factoring in the owner-occupier requirement. First home buyer grants, deposit guarantees, and duty exemptions all include an owner-occupier requirement — you must live in the property as your principal place of residence for at least 6–12 months (varies by scheme and state). Using the property as an investment before moving in will trigger repayment of the grant and may invalidate other scheme benefits.

Your Step-by-Step Action Plan

Understanding the schemes is one thing. Acting on them in the right order is where most first home buyers lose time and money. Here is the sequence that works.

1. Run your numbers before anything else. Use CalcPhi's First Home Buyer Calculator to model your exact upfront cost position — stamp duty (with FHB concessions applied), deposit required at 5% and 20%, and total cash needed. Then use CalcPhi's Borrowing Power Calculator to understand the maximum loan you qualify for.
2. Start FHSS contributions immediately if you are more than 12 months from buying. Contact your super fund and begin salary sacrificing into super now. Even $500–$1,000 per month makes a meaningful difference over 12–18 months. Use CalcPhi's Salary Sacrifice Calculator to model the net benefit at your income level.
3. Set up a dedicated high-interest savings account. Top savings rates sit between 5.0% and 5.5% per annum in mid-2026. Keep your deposit savings completely separate from your everyday account. Use CalcPhi's Savings Goal Calculator to track your timeline to target.
4. Request your FHSS determination from the ATO early. At least 30 days before you plan to start making formal offers, request your FHSS determination via myGov. Do not sign any contracts before this step is complete. See the ATO's FHSS scheme page for the request process.
5. Get pre-approval through a 5% Deposit Scheme lender. Apply for home loan pre-approval through a participating lender on Housing Australia's panel. The lender confirms your 5% Deposit Scheme eligibility as part of the application. Check current participating lenders at housingaustralia.gov.au.
6. Confirm grant eligibility for your specific property before signing. Before exchanging contracts, confirm with your conveyancer or state revenue office that the specific property you are buying qualifies for the FHOG and stamp duty exemption. Price cap, property type, and your personal eligibility history all affect this.
7. Engage a conveyancer before you need one. Research and shortlist a licensed conveyancer in your state while you are still saving. Having one ready to review a contract within 48 hours gives you a significant advantage.
8. Budget for all upfront costs beyond the deposit. Conveyancing ($900–$2,500), building and pest inspection ($400–$700), lender fees ($0–$700), and moving costs ($500–$2,000+) are all payable around settlement. Use CalcPhi's Mortgage Calculator to model your ongoing repayments alongside these upfront costs to confirm you have sufficient buffer.

Frequently Asked Questions

• Do I still need to meet income caps to access the 5% Deposit Scheme in 2026?

  No. As confirmed by Housing Australia, income caps were removed from the 5% Deposit Scheme from 1 October 2025. Any Australian citizen or permanent resident who qualifies as a first home buyer — or who has not owned property in the past ten years — can now apply regardless of income, provided the property is within the price cap for their location.

• Can I use the FHSS scheme and the 5% Deposit Scheme at the same time?

  Yes — these schemes are completely compatible. You use the FHSS to build your deposit inside super at a lower tax rate, withdraw those funds when you are ready to buy, and then use the withdrawn amount as your 5% deposit under the 5% Deposit Scheme. The ATO and Housing Australia operate these as entirely separate programs with no interaction rules between them.

• Are first home buyer grants available for established properties?

  State-based First Home Owner Grants are not available for established properties in any state — they apply only to new homes or substantially renovated properties. However, stamp duty exemptions and concessions in most states apply to both new and established homes up to the applicable price cap. Federal deposit schemes (the 5% Deposit Scheme and Help to Buy) also cover established properties.

• What happens if I buy above the stamp duty exemption threshold?

  You will pay duty on the portion above the threshold, at the applicable concessional rate or full rate depending on your state and purchase price. For example, in Victoria, buying at $680,000 sits within the $600,000–$750,000 concession band — you receive a partial reduction, not zero. Use CalcPhi's Stamp Duty Calculator to calculate the exact duty for your state and price before you set your maximum offer.

• How long does the FHSS process take from application to funds in my account?

  The ATO's guidance indicates the process takes 15–25 business days from the time you request a release. You must first request and receive an FHSS determination, then submit the release request — both through myGov. Factor in 4–6 calendar weeks of lead time, and remember the determination must be in hand before you sign a property contract.

• Can I use Help to Buy if I earn $95,000 per year?

  No — the Help to Buy income threshold for individual applicants is $100,000 per year. At $95,000 you are under the limit and would be eligible, assuming you meet the other criteria. For more detail on eligibility and the application process, visit firsthomebuyers.gov.au.

Written by

Emma Hartley CFP

Certified Financial Planner & Mortgage Specialist

Emma is a CFP based in Brisbane with 9 years of experience in mortgage advice, first home buyer strategy, and retirement planning for Australian households navigating property markets and the age pension system.

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