First Home Buyer Schemes Australia 2026: Federal + State Grants Explained

Federal and state support programs

Australia has multiple overlapping support programs for first home buyers — federal schemes that reduce your deposit requirement and state programs that provide cash grants or stamp duty concessions. Understanding which ones you can stack is the key to maximising your benefit.

This guide covers schemes current as at mid-2026.

Federal Scheme 1: First Home Guarantee (5% deposit, unlimited)

The First Home Guarantee lets eligible buyers purchase with just a 5% deposit — with no Lenders Mortgage Insurance (LMI) required. The government guarantees the remaining portion of the deposit (up to 15%) with participating lenders.

Key change from October 2025: the scheme is now unlimited — previously it was capped at 35,000 places per year. Any eligible buyer can now access it year-round.

Eligibility:

First home buyers purchasing as a principal place of residence.
Income: up to $125,000 (single) or $200,000 (couple/family).
Australian citizens and permanent residents.
Price caps apply by state — check the Housing Australia website for your area.

Federal Scheme 2: Help to Buy (shared equity, 2% deposit)

The Help to Buy scheme launched December 2025. The government co-owns up to 30% (existing home) or 40% (new build) of your property, so you only need a 2% deposit and no LMI.

Key difference from First Home Guarantee: Help to Buy requires you to share the equity gain when you sell. First Home Guarantee is purely a guarantee — you own 100% of the property from day one.

Eligibility: income up to $100,000 (individual) or $160,000 (couple), no current property ownership anywhere. Open to non-first-home-buyers who currently own nothing. 10,000 places per year. Currently only CBA and Bank Australia participate.

Federal Scheme 3: First Home Super Saver (FHSS)

The FHSS lets you save for a home deposit inside your superannuation fund, taking advantage of the lower tax rates on super contributions.

You can make voluntary contributions to super and later withdraw them (plus earnings) for a deposit.
Maximum withdrawal: $50,000 across all years (raised from $30,000 in 2022).
Contributions taxed at 15% inside super vs your marginal rate outside — potential tax saving on the way in.
Apply to the ATO for a release after you’ve signed a contract to purchase.

Best for: high-income earners who want to save a large deposit over several years in a tax-efficient way. Less useful if you’re ready to buy soon.

State schemes (summary)

Queensland

$30,000 First Home Owner Grant for new builds only (homes valued under $750,000).
Zero stamp duty on homes under $700,000 for first home buyers; concessions up to $800,000.

New South Wales

No cash grant (as at 2026).
Stamp duty exemption on homes up to $800,000; concessions up to $1,000,000.
First Home Buyer Assistance Scheme waives or reduces transfer duty.

Victoria

$10,000 First Home Owner Grant for new builds in regional areas.
Stamp duty concessions for principal places of residence under certain thresholds.
Shared Equity Program (state-run, separate from federal Help to Buy).

South Australia

No price cap on First Home Owner Grant (new builds only, $15,000 grant).
Stamp duty concessions available; confirm current caps with RevenueSA.

ACT

Stamp duty exemption for homes under $1,020,000 (eligible buyers).
No cash grant.

State schemes are subject to budget changes — always verify current amounts and thresholds with each state’s revenue authority.

Can I combine schemes?

In most cases you can combine a federal scheme + a state grant. For example:

Use the First Home Guarantee (5% deposit, no LMI) and the Queensland $30,000 grant on a new build.
Use FHSS to build your deposit then apply the First Home Guarantee when you purchase.

You cannot combine First Home Guarantee and Help to Buy on the same purchase — they are mutually exclusive.

Key decisions to make

New build or existing home? New builds access more grants (FHOG in most states, higher Help to Buy equity share).
How soon are you buying? FHSS suits savers with a 2+ year timeline; First Home Guarantee is immediate.
What’s your income? Help to Buy has lower income caps ($100K/$160K); First Home Guarantee is more generous ($125K/$200K).
Which state? Grant amounts and stamp duty savings vary significantly.

Speak with a mortgage broker and a financial adviser who specialises in first home buyers — they can run the numbers for your specific situation and state.