Australia offers several incentives to encourage first-time homebuyers, making the dream of homeownership more attainable. These grants and concessions vary by state and territory, each designed to reduce the financial burden on first-time buyers. Here’s an overview:

1. First Home Owner Grant (FHOG)

  • First Home Owner Grant (FHOG): The FHOG is a national scheme, but the specifics and amount offered vary from state to state. Generally, the grant is available to first-time homebuyers purchasing or building a new home, with the eligibility criteria and grant amount differing across jurisdictions.
  • Eligibility Criteria: Typically includes factors like the value of the home, the applicant’s age, and residency status.
  • Grant Amount: Can range from $10,000 to $20,000, depending on the state or territory.

2. Stamp Duty Concessions

  • Stamp Duty Concessions: First-time homebuyers may also be eligible for stamp duty concessions or exemptions, which can significantly reduce the cost of purchasing a home. These concessions also vary by state and territory and can depend on the purchase price of the property.
  • Eligibility Criteria: Often includes the purchase price of the property and whether it’s a new or existing home.
  • Benefit: Can range from partial to full exemptions on stamp duty.

3. First Home Super Saver Scheme (FHSSS)

  • First Home Super Saver Scheme (FHSSS): The FHSSS allows individuals to save for their first home inside their superannuation fund, taking advantage of the concessional tax treatment of super. This scheme enables first-time buyers to use their superannuation contributions as a savings vehicle for their home purchase.
  • Eligibility Criteria: Must be a first-time homebuyer intending to live in the property for at least six months within the first 12 months of purchase.
  • Benefit: Can withdraw voluntary contributions (up to set limits) along with associated earnings to put towards a home deposit.

4. First Home Loan Deposit Scheme (FHLDS)

  • First Home Loan Deposit Scheme (FHLDS): The FHLDS is an Australian Government initiative to support eligible first home buyers purchase a home sooner. Under this scheme, first home buyers can purchase a property with as little as a 5% deposit without needing to pay for Lenders Mortgage Insurance (LMI).
  • Eligibility Criteria: Earnings thresholds and property price caps apply, varying by location.
  • Benefit: Government guarantee for up to 15% of the purchase price of the property, enabling buyers to avoid LMI.

5. State-Specific Schemes

  • State-Specific Schemes: Several states offer additional incentives, such as the Victorian Homebuyer Fund, which provides an equity contribution towards the purchase price in exchange for a proportional interest in the property. It’s important to research the specific incentives available in your state or territory.


For first-time homebuyers, understanding and accessing these grants and concessions can make a significant difference in the affordability of a home purchase. It’s crucial to research the specific requirements and benefits available in your area, as well as to plan your finances accordingly.

As always, consulting with a professional, whether a tax agent, financial advisor, or mortgage broker, can provide personalised advice tailored to your unique situation, ensuring you make the most of the financial assistance available to you on your journey to homeownership.

In essence, Australia’s support for first-time homebuyers underscores the importance of homeownership as a cornerstone of financial stability and community building. By taking advantage of these grants and schemes, you can lay a solid foundation for your future, both as a homeowner and in your broader financial journey.