Everything you need to know about the First Home Owners Grant in your state

Buying your first home is an exciting time, but it can also be an expensive one. Between home loans, stamp duty, inspections, and conveyancers, there's plenty to consider. Thankfully, there are several grants and reductions that apply to eligible first home buyers, all of which can help give you a helping hand. Here, we look at what each state offers in terms of a first-time home buyers grant, so that when the time is right to buy, you'll know the help available to you.

What is the First Home Owners Grant?

The First Home Owners Grant (FHOG) scheme was introduced on 1 July 2000 to offset the effect of the GST on home ownership. It's a national scheme funded by the states and territories and administered under their own legislation. Under the scheme, a one-off grant is payable to first home owners that satisfy all the eligibility criteria (firsthome.gov.au).

How the Grant works for first home buyers – state by state

The First Home Owners Grant details including eligibility criteria varies depending on which state or territory you intend to buy your first home in. Here's how it works in your state^:

First Home Owners Grant QLD

How much can you get? $15,000

What can you get it for? 

• Buying or building a new home valued up to $750,000
  

Other exemptions or concessions: Stamp duty concessions are available for first home buyers of properties valued up to $550,000. These amounts vary depending on the purchase price. 

For more information, visit: Queensland Government

First Home Owners Grant VIC

How much can you get?

• $10,000 for urban homes

What can you get it for? 

• New home valued up to $750,000

Other exemptions or concessions: Victorian first home buyers are also exempt from paying stamp duty on properties valued up to $600,000, while a concession is available for properties valued between $600,001 and $750,000.

For more information visit: State Revenue Office Victoria

First Home Owners Grant NSW

How much can you get? $10,000

What can you get it for? 

• A new home valued up to $600,000
• A new home valued up to $750,000 if you enter a contract to build or are an owner-builder
  

Other exemptions or concessions: From 1 July 2023, first home buyers in NSW are exempt from paying transfer duty on new and existing homes valued at or less than $800,000 or a block of land valued at or less than $350,000. 

Transfer duty concessions apply to first home buyers if the value of your:

• New or existing home is valued between $800,000 and $1,000,000, or
• Vacant block of land is valued between $350,000 - $450,000; 

For more information, visit: Office of State Revenue New South Wales

First Home Owners Grant WA

How much can you get? $10,000

What can you get it for?

• Up to $750,000 for new homes purchased south of the 26th parallel
• Up to $1m for new homes purchased north of the 26th parallel

Other exemptions or concessions: Stamp duty concessions are available for first home buyers of properties valued up to $530,000. These amounts vary depending on the purchase price.

For more information, visit: Government of Western Australia

First Home Owners Grant SA

How much can you get? Up to $15,000

What can you get it for?

• New homes valued up to $575,000 (if the property is intended as your principal place of residence (PPR) and you intend to live there for 6 months, within a year of settlement)

For more information, visit: Government of South Australia

First Home Owners Grant TAS

How much can you get? $30,000

What can you get it for?

• New homes or off-the-plan properties only

Other exemptions or concessions: Fifty per cent discount on property transfer duty for first home buyers of established homes that have a dutiable value of $500,000 or less.

For more information, visit: Tasmania Government – Department of Treasury and Finance

First Home Owners Grant NT

How much can you get? $10,000

What can you get it for?

• New homes only

Other exemptions or concessions: There are a range of government grants, concessions and rebates available for first home buyers and other Northern Territory home buyers.

For more information, visit: Northern Territory Government

Home Buyer Concession Scheme ACT

The ACT First Home Owner Grant has been replaced by the Home Buyer Concession Scheme, which provides a full stamp duty concession for eligible applicants..

For more information, visit: ACT Revenue Office

Are you eligible for the First Home Buyers Grant?

Check the specific website for your state, called out above. Each state differs in what they offer, and under what conditions.

For any questions about home finance, talk to a Suncorp Mobile Lender. They can help you with your grant application and guide you through the home loan process every step of the way.

Contact a Mobile Lender

Read more:

• How to save for your first home in Australia
• What are the different types of home loan available?
• What influences how much I can borrow?

^ State-based information current as of September 21, 2022. Additional eligibility terms and conditions may apply. Please make your own enquiries to confirm scheme benefits and eligibility requirements.

Information is intended to be of a general nature only and any advice has been prepared without taking into account any person's particular objectives, financial situation or needs. You should make your own enquiries, consider whether advice is appropriate for you and read the relevant Product Disclosure Statement or Product Information Document before making any decisions about whether to acquire a product.