First Home Buyer Guide 2026

Your 2026 first home checklist

Buying your first home in Australia is exciting — and complex. This guide brings together all federal and state programs updated for the 2026 financial year. From the First Home Owner Grant to stamp duty savings and the latest Guarantee schemes, we walk you through every step.

First Home Owner Grant (FHOG)

A national program but administered by states/territories. Usually available for new homes (not established dwellings). Amounts and thresholds for 2026:

State	Grant amount	Property value cap (new home)
NSW	$10,000	$600,000 (or $750,000 for house+land package)
VIC	$10,000	$750,000 (metro) / $850,000 (regional)
QLD	$15,000	$750,000
WA	$10,000	$750,000
SA	$15,000	$575,000
TAS	$10,000	$750,000 (southern) / $600,000 (northern)
ACT	$10,000	$750,000
NT	$10,000	$650,000

Most states require the buyer to live in the home for at least 6–12 months.

Stamp duty concessions & exemptions

Every state offers full or partial stamp duty relief for first home buyers. Thresholds indexed for 2026:

State	Full exemption threshold	Concession threshold
NSW	$650,000	$800,000 (sliding scale)
VIC	$600,000	$750,000
QLD	$500,000	$550,000
WA	$430,000	$530,000
SA	$600,000 (new homes) / $400,000 (existing)	–
TAS	$500,000	$600,000
ACT	Full concession up to $1.1M (duty free threshold $500k)	–
NT	$650,000	–

Always check eligibility – some schemes require you to be a first-time buyer AND not have owned property anywhere in Australia.

First Home Guarantee (FHLDS) & other schemes

First Home Guarantee (formerly FHLDS): buy with as little as 5% deposit, government backs 15% – no LMI. Regional First Home Buyer Guarantee for regional areas. Family Home Guarantee for single parents with 2% deposit. All places are limited each financial year. 2026 income caps:

Singles: $125,000 p.a.
Couples: $200,000 p.a.
Property price caps vary by city/region (e.g. Sydney $900k, Melbourne $800k, Brisbane $700k).

Participating lenders include major banks and some non‑majors. Spots usually open 1 July – apply early.

Step‑by‑step: from saving to settlement

Save your deposit – usually 5–20% plus costs. Use a First Home Super Saver Scheme (FHSSS) to boost savings via super.
Check borrowing power – get pre‑approval from a lender. Compare interest rates and fees.
Find a property – engage a buyer’s agent or search yourself. Check if it’s eligible for grants.
Make an offer & sign contract – include cooling‑off clause. Get a building and pest inspection.
Formal approval & conveyancing – your solicitor checks the contract, handles transfer.
Settlement – usually 30–90 days later. Keys are yours!

Don’t forget hidden costs: conveyancing ($800–$2k), inspection fees ($400–$800), lender fees, and moving costs.

Quick state highlights 2026

VIC: New Homebuyer Fund (shared equity) up to 25% for eligible buyers.
WA: Keystart low‑deposit loans with no LMI.
QLD: $15,000 FHOG for new builds until June 2026.
ACT: Stamp duty abolished for most first home buyers (phased out).
TAS: MyHome shared equity scheme available.

Frequently asked questions

Can I use the FHOG for an existing home?

Generally no – it’s for new builds or substantially renovated homes. Some states offer it for off‑the‑plan.

What if I’m buying with a friend or sibling?

All first home buyers must meet the criteria. You can apply jointly if each is a first‑timer. Some schemes treat couples differently.

Do I have to pay LMI with a 5% deposit under the Guarantee?

No – that’s the benefit. The government guarantees the gap, so lender’s mortgage insurance is waived.

Are these schemes available for non‑citizens?

Permanent residents are usually eligible. Temporary residents may not qualify for grants – check state rules.