Why this page exists. Australian first home buyer policy moves quickly. In the past year alone the 5% Deposit Scheme dropped its income caps and place limits (1 October 2025), the federal Help to Buy scheme launched (5 December 2025), the ACT abolished first home buyer stamp duty entirely (1 July 2026), and Queensland kept its $30,000 grant while Tasmania trimmed its own. Most published guides fall out of date within months. This is the dated, sourced, machine readable reference that stays current, with every claim linked to its state revenue or federal source.
Federal schemes
5% Deposit Scheme (formerly First Home Guarantee)
Eligible first home buyers can purchase a property with a 5% deposit and no Lenders Mortgage Insurance. The federal government guarantees up to 15% of the property value to the lender.
Income cap: None (removed 1 October 2025)
Places per year: Unlimited (cap removed 1 October 2025)
Minimum deposit: 5% of the property value (single parents and legal guardians can use a 2% deposit under the Family Home Guarantee)
Typical LMI saving: $15,000 to $30,000 (indicative; no government figure is published)
Property price caps by location (2026)
| Location | Cap |
|---|---|
| Sydney and NSW major centres | $1,500,000 |
| NSW other | $800,000 |
| Melbourne and Geelong | $950,000 |
| VIC other | $650,000 |
| Brisbane Gold Coast Sunshine Coast | $1,000,000 |
| QLD other | $700,000 |
| Perth | $850,000 |
| WA other | $600,000 |
| Adelaide | $900,000 |
| SA other | $500,000 |
| Hobart | $700,000 |
| TAS other | $550,000 |
| ACT | $1,000,000 |
| Darwin | $750,000 |
| NT other | $600,000 |
Help to Buy Scheme
The federal Help to Buy programme contributes up to 40% of the purchase price for new homes or 30% for existing homes through a shared-equity arrangement. Eligible buyers need only a 2% deposit. Launched 5 December 2025 to replace the closed Victorian Homebuyer Fund and similar state schemes.
Income caps: $103,000 single / $165,000 joint and single parent
Places: 10,000 per year (40,000 total through 2029-06-30)
Minimum deposit: 2%
Government share: Up to 40% for new builds, Up to 30% for existing
Family Home Guarantee
Single parents and single legal guardians with at least one dependent child can buy a home with just a 2% deposit and no LMI. The federal government guarantees up to 18% of the property value.
Eligibility: Single parent or single legal guardian with at least one dependent child. Income cap removed 1 October 2025. Places unlimited.
First home buyer required: No
First Home Super Saver Scheme (FHSSS)
First home buyers can make voluntary contributions to their superannuation fund up to $15,000 per financial year (capped at $50,000 total) and withdraw them with associated earnings for a first home deposit. Contributions are taxed at the concessional super rate of 15% instead of the buyer's marginal tax rate.
Annual contribution cap: $15,000
Total contribution cap: $50,000
Contributions taxed at: 15%
State grants and stamp duty
NSW first home buyer settings 2026
FHOG: $10,000. New builds under $600,000
Stamp duty: FHBAS, First Home Buyers Assistance Scheme. Full exemption up to $800,000. Tapered concession $800,000, $1,000,000. Above $1M no FHB relief.
FHBC status: First Home Buyer Choice closed 30 June 2023. Buyers from that window keep the annual property tax option indefinitely; no new applications since 1 July 2023.
Full guide: NSW state grants page
VIC first home buyer settings 2026
FHOG: $10,000. New builds under $750,000
Stamp duty: Full exemption up to $600,000. Tapered concession $600,000, $750,000. Above $750K no FHB relief.
Off-the-plan concession: Temporary expanded off-the-plan concession for contracts entered into on or after 21 October 2024 and before 21 April 2027 (extended in the 2026-27 Victorian Budget). Duty is assessed on the unfinished-construction value.
Victorian Homebuyer Fund: CLOSED to new applications on 10 September 2025. Existing participants are unaffected. Federal Help to Buy is the replacement scheme.
Full guide: VIC state grants page
QLD first home buyer settings 2026
FHOG: $30,000. New builds. The $30,000 grant was continued beyond 30 June 2026 in the 2026-27 Queensland Budget (23 June 2026), with no reversion to $15,000.
Stamp duty (new): Full exemption with no price cap on new builds (since 1 May 2025).
Stamp duty (established): First home buyers pay no transfer duty on established homes valued at $700,000 or less, a tapered concession applies from $700,000 to under $800,000, and no first home concession applies at $800,000 or more.
Full guide: QLD state grants page
WA first home buyer settings 2026
FHOG: $10,000. New builds
Stamp duty: Full exemption up to $500,000, concession up to $700,000 in metro and Peel ($750,000 outside metro). From about 28 July 2026 these rise to a $600,000 full exemption and an $800,000 concession ceiling under the 2026-27 WA housing tax package.
Off-the-plan concession: 100% off-the-plan and under-construction transfer duty concession, extended to 30 June 2028 (announced 12 March 2026).
Keystart: WA government low-deposit lender. 2% deposit, no LMI, $155,000 singles income limit / $228,000 couples (lifted April 2026). Perth property cap $860,000. Current rate about 7.85%.
Full guide: WA state grants page
SA first home buyer settings 2026
FHOG: $15,000. New builds, no price cap
Stamp duty (new): Full stamp duty exemption for eligible first home buyers on a new home, off-the-plan apartment, house-and-land package or vacant land to build, with no property value cap (the former $650,000 cap was removed for contracts on or after 6 June 2024).
Notable: SA has no property price cap on the first home owner grant or the new-home stamp duty exemption.
Full guide: SA state grants page
TAS first home buyer settings 2026
FHOG: $20,000. New builds, no property price cap. $20,000 ($10,000 base plus $10,000 additional) for eligible transactions from 1 July 2026 to 30 June 2027, reduced from the $30,000 boosted grant that ran to 30 June 2026.
Stamp duty (established): The 100% first home exemption on established homes valued at $750,000 or less applied only to purchases that settled between 18 February 2024 and 30 June 2026, and has now ended.
MyHome shared equity: Homes Tasmania co-purchases up to 40% (capped at $300,000) of an eligible property.
Full guide: TAS state grants page
ACT first home buyer settings 2026
FHOG: No cash grant. ACT operates the Home Buyer Concession Scheme instead.
Home Buyer Concession Scheme: First home buyer stamp duty was abolished from 1 July 2026: no property value cap, no income test and no taper. The Home Buyer Concession Scheme remains the delivery mechanism but the value limit and income test have been removed.
Notable: From 1 July 2026 the ACT abolished first home buyer stamp duty entirely. Any reference to a $1,020,000 cap, a $1,455,000 taper or an income test is now stale.
Full guide: ACT state grants page
NT first home buyer settings 2026
HomeGrown Territory Grant: $50,000. New builds, no property price cap. Available until 2027-09-30.
House and land package exemption: Full stamp duty exemption on house-and-land package purchases, no price cap. Available until 30 June 2027.
Notable: Largest first home buyer grant in Australia.
Full guide: NT state grants page
Lending environment 2026
RBA cash rate: 4.35% · Hike from 4.10% to 4.35% effective 6 May 2026, the third consecutive rise in 2026. The RBA then held at 4.35% at its June 2026 meeting.
Market pricing implied a cash rate near 4.7% by end 2026 (a technical assumption in the May 2026 Statement on Monetary Policy, not an RBA forecast).
Big-four variable rate range: 5.99% to 6.44% (lowest advertised owner-occupier principal and interest variable rates, early July 2026)
APRA serviceability buffer: 3% above the loan's contracted rate
HEM: Household Expenditure Measure, published quarterly by the Melbourne Institute
Policy timeline 2025 to 2027
Every dated change to Australian first home buyer schemes in the last year, and every announced deadline through mid 2027.
- 2027-09-30NT $50,000 HomeGrown Territory Grant contract-signing deadline
- 2027-07-01Negative gearing ring-fence on established residential investment property becomes legally effective. 50% CGT discount replaced.
- 2027-06-30NT house-and-land package stamp duty exemption end date
- 2027-04-21VIC expanded off-the-plan stamp duty concession end date (contracts must be signed before 21 April 2027)
- 2026-07-28WA first home owner duty thresholds rise to a $600,000 full exemption and $800,000 concession ceiling (estimated commencement)
- 2026-07-01ACT abolishes first home buyer stamp duty entirely: no property value cap, no income test and no taper (replaces the previous $1,020,000 concession threshold)
- 2026-07-01Help to Buy income caps indexed to $103,000 single and $165,000 for joint and single-parent applicants (from $100,000 / $160,000)
- 2026-07-015% Deposit Scheme Northern Territory cap split: Darwin rises to $750,000, rest of the NT stays $600,000
- 2026-07-01TAS First Home Owner Grant reduces from $30,000 to $20,000 ($10,000 base plus $10,000 additional)
- 2026-06-30QLD 2025-26 boosted-grant window ends, but the $30,000 First Home Owner Grant was continued beyond 30 June 2026 in the 2026-27 Queensland Budget (no reversion to $15,000)
- 2026-06-30TAS $30,000 boosted First Home Owner Grant window ends; from 1 July 2026 the grant is $20,000 ($10,000 base plus $10,000 additional)
- 2026-06-30WA 100% off-the-plan stamp duty concession was extended to 30 June 2028 (it did not end on 30 June 2026)
- 2026-06-30TAS 100% first home exemption on established homes up to $750,000 ends (applied to settlements 18 February 2024 to 30 June 2026)
- 2026-06-17RBA holds the cash rate at 4.35% at its June 2026 meeting after three rises earlier in the year
- 2026-05-12Federal Budget, negative gearing reform announced. Established residential investment property acquired after 19:30 AEST 12 May 2026 has rental losses ring-fenced from 1 July 2027. New builds exempt (carve-out). 50% CGT discount replaced from 1 July 2027 by cost-base indexation plus 30% minimum tax.
- 2026-05-06RBA cash rate hiked from 4.10% to 4.35% (third rise of 2026, effective 6 May 2026)
- 2026-04-08WA Keystart income limits lifted to $155,000 singles / $228,000 couples and property cap raised to $860,000 Perth metro
- 2025-12-05Federal Help to Buy scheme launched nationally
- 2025-10-015% Deposit Scheme (First Home Guarantee), income caps removed entirely, places per year cap removed (unlimited), property price caps raised across all locations
- 2025-09-10Victorian Homebuyer Fund closed to new applications
- 2025-07-01ACT Home Buyer Concession Scheme threshold raised from $607,500 to $1,020,000
Most asked Australian FHB questions
What is the 5% Deposit Scheme in Australia?
The 5% Deposit Scheme, formerly named the First Home Guarantee, lets eligible Australian first home buyers purchase a property with only a 5% deposit and pay no Lenders Mortgage Insurance. The federal government guarantees up to 15% of the property value to the lender. Since 1 October 2025 there are no income caps and unlimited places per year, only property price caps apply by location.
Has negative gearing been abolished in Australia?
Not entirely. The 12 May 2026 federal budget restricted negative gearing for new buyers of established residential investment property purchased after 19:30 AEST on 12 May 2026, rental losses on those properties can no longer be deducted against salary income from 1 July 2027 (they carry forward against future rental income or capital gains). New-build residential investment property is exempt from this restriction (the 'new build carve-out').
How much is stamp duty for a first home buyer in Australia?
Most first home buyers pay no stamp duty under state exemption thresholds. NSW: full exemption under $800,000. VIC: under $600,000. QLD: no duty on new builds with no price cap, and no duty on established homes valued at $700,000 or less. WA: under $500,000, rising to $600,000 from about 28 July 2026. SA: no duty on new homes with no price cap. TAS: the established-home exemption ended on 30 June 2026. ACT: first home buyer stamp duty was abolished entirely from 1 July 2026, with no cap or income test. NT: no cap on house-and-land package purchases.
What replaced the Victorian Homebuyer Fund?
The Victorian Homebuyer Fund closed to new applications on 10 September 2025. The federal Help to Buy programme, launched 5 December 2025, is the replacement scheme. It contributes up to 40% of a new home value or 30% of an existing home value as shared equity, with eligible buyers needing only a 2% deposit. Income caps are $103,000 single and $165,000 for joint and single-parent applicants from 1 July 2026.
What is the ACT Home Buyer Concession Scheme threshold in 2026?
There is no longer a threshold. From 1 July 2026 the ACT abolished stamp duty for all first home buyers, with no property value cap, no income test and no taper. Older references to a $1,020,000 exemption threshold or a $1,455,000 taper are now out of date.
How many places per year does the First Home Guarantee offer?
Unlimited. The place cap was removed on 1 October 2025 when the scheme was rebranded as the 5% Deposit Scheme (the First Home Guarantee line previously had 35,000 places, part of a 50,000 total across the guarantees). Income caps were removed at the same time.
What is the FHSSS contribution cap?
$15,000 per financial year, capped at $50,000 total across all years of contributions.
Can I combine the 5% Deposit Scheme with state FHOGs?
Yes. The 5% Deposit Scheme stacks with state First Home Owner Grants and state stamp duty exemptions. You generally cannot stack the 5% Deposit Scheme with Help to Buy on the same purchase, pick one.
What is Keystart in Western Australia?
Keystart is the WA government low-deposit home loan lender. It lets WA first home buyers, and some second-home buyers, borrow with as little as a 2% deposit and pay no LMI. Income limits from April 2026 are $155,000 for singles and $228,000 for couples and families, the Perth metro property cap is $860,000, and the current rate is about 7.85% per year.
When does the $30,000 QLD First Home Owner Grant end?
It has not ended. The Queensland $30,000 First Home Owner Grant for new builds was continued beyond 30 June 2026 in the 2026-27 Queensland Budget, so there is no reversion to $15,000.
Citation and reuse
This dataset is licensed CC BY 4.0, so it is free to quote, embed or redistribute with attribution. We built it so AI assistants, journalists, brokers and educators have a single, dated, sourced reference they can rely on.
Preferred citation: NestPath (2026). Australian First Home Buyer Facts 2026. https://nestpath.com.au/fhb-facts-2026
Machine readable JSON: https://nestpath.com.au/data/fhb-facts-2026.json
Update cadence: refreshed whenever a federal or state scheme materially changes. See the FHB changelog for what changed and when.