A guide to the First Home Owner Grant

Whether you’re buying or building your first home, you might meet the eligibility criteria for the First Home Owner Grant. Here’s how much you could be eligible for.

The average loan size for first-home buyers in Australia is $336,500¹, so any financial assistance with this purchase could really lend a helping hand. This is why it’s a good idea to consider the First Home Owner Grant when you’re buying or building your first home.

If you want to know more about the eligibility criteria for receiving the grant or how much the First Home Owner Grant is, we’ve provided some key points about the scheme below.

What is the First Home Owner Grant?

The First Home Owner Grant (FHOG) is an Australian state and territory-based scheme that aims to help first-home buyers with the cost of purchasing a residential property.

Eligibility criteria and the amount of the grant varies across states and territories, so check below to see what the rules are in the state or territory you’re purchasing your residential property in.

How much is the First Home Owner Grant and what are the eligibility requirements by state?

The amount of the First Home Owner Grant varies across states and territories – there’s no one size fits all. Some states also offer reductions or exemptions on stamp duty and other fees, while others offer lump sums for first-time buyers.

See below for the full breakdown by state or territory, as well as an overview of the eligibility criteria for each grant. It’s best to check directly with your state or territory revenue office for full details of the grant and your eligibility.

Australian Capital Territory

Instead of a First Home Owner Grant payment, the ACT offers the Home Buyer Concession Scheme. Under this scheme, you may not be required to pay stamp duty on property purchases for new-build and established homes, provided:

• you haven’t owned property in the past two years
• the property is occupied by at least one buyer for a year starting within 12 months of the settlement date
• the total combined income of the purchasers does not exceed the threshold amount².

Read the full eligibility criteria and apply for the ACT Home Buyer Concession Scheme.

New South Wales

To be eligible for the grant, first-home buyers who buy or build a new home in NSW could receive $10,000 towards the purchase price, provided:

• the home hasn’t been lived in previously
• the price of the new property doesn’t exceed $600,000 or if purchasing land, the combined land and contract price doesn’t exceed $750,000
• you occupy the property for at least six months, with your move-in date within 12 months of purchase.

Renovated homes may also be eligible for the grant³.

You could also be eligible for the First Home Buyers Assistance Scheme, which provides a partial or full exemption from transfer duty on properties under a certain value⁴.

Read the full eligibility criteria and apply for the NSW First Home Owner Grant (New Homes) scheme.

Northern Territory

Provided the home you purchase in the Northern Territory is new or substantially renovated, you could be eligible for a $10,000 First Home Owner Grant.

Read the full eligibility criteria and apply for the NT First Home Owner Grant.

Queensland

First-home owners in Queensland could be entitled to a $15,000 grant, provided:

• you’re buying or building a new home (or a significantly renovated one) worth less than $750,000
• you move in within 12 months following the purchase and live there for six continuous months⁵.

First-home buyers may also be eligible for concessions on transfer duty if they intend to live in the property or build an owner-occupied property on vacant land⁶.

Read the full eligibility criteria and apply for the QLD First Home Owner Grant.

South Australia

Eligible first-home buyers in South Australia could benefit from a $15,000 grant by purchasing a new residential house, flat, unit, townhouse or apartment anywhere across the state valued up to $575,000. Substantially renovated homes may also be eligible⁷.

Read the full eligibility criteria and apply for the SA First Home Owner Grant.

Tasmania

If you’re purchasing a new home, an off-the-plan property, or building a new home as an owner-builder or through a registered builder, you could be eligible for a grant of up to $30,000. Some first home buyers of established homes may also be eligible for a 50% reduction on transfer duty, provided the value of the property does not exceed $500,000⁸ for purchases made between 16 March 2021 and 30 June 2022 (inclusive). Substantially renovated homes may also be eligible under this scheme.

Read the full eligibility criteria and apply for the TAS First Home Owner Grant.

Victoria

If you purchase a new or significantly renovated home in Victoria valued up to $750,000, you could be eligible for a grant of $10,000 towards the purchase⁹. If you meet all the eligibility criteria and are also purchasing a property under $750,000, you could also receive a duty exemption, concession or reduction as part of the First Home Buyer Duty Exemption, Concession or Reduction¹⁰.

Read the full eligibility criteria and apply for the VIC First Home Owner Grant.

Western Australia

The First Home Owner Grant in WA is worth $10,000 for the purchase or construction of a new home for properties worth $750,000 or less (south of the 26th parallel) or $1 million (north of the 26th parallel). A ‘new home’ may also include a substantially renovated house¹¹.

If you’re eligible for the WA First Home Owner Grant, you could also be eligible for a reduction on transfer duty provided the value is under certain thresholds, $530,000 for a house and land, and $400,000 for land only¹².

Read the full eligibility criteria and apply for the WA First Home Owner Grant.
 

_{1 Australian Bureau of Statistics (November 2018): Housing finance, Australia
2 ACT Revenue Office: Home buyer concessions from 1 July 2019
3 Grants and schemes, First home buyer: Revenue NSW
4 Revenue NSW: First Home Buyer Assistance Scheme
5 Queensland Government: Applying for a first home owner grant
6 Queensland Government: About concessions for homes
7 Revenue SA: First home buyer
8 State Revenue Office Tasmania: Property transfer duties
9 State Revenue Office Victoria: First home owner
10 State Revenue Office Victoria: First home buyer duty exemption, concession or reduction
11 Department of Finance WA: First Home Owner Grant
12 Government of Western Australia, Department of Communities Housing: Stamp duty concessions}