First Home Buyer Australia 2026: FHBG, FHOG, FHSS, and State Schemes
The complete first home buyer guide for Australia in 2026 — the federal First Home Guarantee scheme (5% deposit, no LMI), the First Home Owner Grant amounts by state and territory, the First Home Super Saver scheme (up to $50,000 from your super), and the stamp duty concessions that can save tens of thousands.
By FreeFinCalc Editorial · Updated April 9, 2026 · Australia 2025-26 financial year data
Australian first home buyers in 2026 have access to several federal and state government schemes that combined can reduce the cash needed at settlement by tens of thousands of dollars. The biggest is the federal First Home Guarantee (FHG), which lets eligible first home buyers purchase with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI) — saving $20,000-$40,000 on a typical purchase. The First Home Super Saver (FHSS) scheme lets first home buyers withdraw up to $50,000 of voluntary super contributions plus earnings to use for a deposit. Each state offers a First Home Owner Grant (typically $10,000-$30,000 for new builds), plus stamp duty concessions that vary dramatically by state. This guide breaks down what is available in each state in 2026 and how to combine them.
First Home Guarantee (FHG) — Federal Scheme
The First Home Guarantee allows eligible first home buyers to purchase a property with just a 5% deposit without paying Lenders Mortgage Insurance (LMI). The federal government guarantees up to 15% of the loan, allowing the bank to lend without LMI. There are 35,000 places per financial year (10,000 for the Regional First Home Buyer Guarantee and 5,000 for the Family Home Guarantee for single parents). Eligibility requires Australian citizenship or permanent residency, no previous property ownership, single income under $125,000 or couple income under $200,000, and the property must be under the price cap (which varies by location — $900,000 in Sydney, $800,000 in Melbourne, $700,000 in Brisbane, $700,000 in Perth in 2025).
First Home Owner Grant (FHOG) by State
Each Australian state and territory offers its own First Home Owner Grant. Rules vary significantly — most are now restricted to NEW builds only (not established homes), and most have value caps. Always verify current amounts on your state revenue office website before making decisions.
| State / territory | Grant amount | Restrictions |
|---|---|---|
| NSW | $10,000 | New homes under $600K (build) or $750K (purchase) |
| Victoria | $10,000 | New homes under $750K |
| Queensland | $30,000 | New homes under $750K (boosted from $15K to $30K Nov 2023) |
| Western Australia | $10,000 | New homes under $750K (south) or $1M (north) |
| South Australia | $15,000 | New homes under $650K |
| Tasmania | $10,000 | New homes only |
| ACT | $0 | No FHOG; uses Home Buyer Concession Scheme instead |
| Northern Territory | $10,000 | New homes only, plus BuildBonus available |
First Home Super Saver (FHSS) Scheme
The FHSS scheme lets first home buyers contribute extra money into their super (above the employer SG) and later withdraw those voluntary contributions plus deemed earnings to use for a first home deposit. The maximum contribution is $15,000 per financial year, with a lifetime maximum release of $50,000 (raised from $30,000 in 2022). The contributions are taxed at the concessional 15% rate inside super (instead of your marginal rate), saving 15-30 percentage points of tax. When released, the contributions are taxed at your marginal rate minus a 30% tax offset, making the net tax much lower than if you had simply saved the money outside super. For most first home buyers in middle-to-high tax brackets, FHSS produces a net tax benefit of 10-15% of the amount saved.
Stamp Duty Concessions by State
Stamp duty (transfer duty) is a state tax paid by the buyer at settlement, typically 4-5% of the purchase price. Each state offers significant concessions or full exemptions for first home buyers up to specific value caps. These are often the biggest single saving in the entire first home buyer toolkit.
| State | First home buyer concession | Approximate saving |
|---|---|---|
| NSW | Full exemption to $800K, taper to $1M | Up to $32,000 |
| Victoria | Full exemption to $600K, taper to $750K | Up to $31,070 |
| QLD | Full exemption to $700K, concession to $800K (raised 2024) | Up to $24,525 |
| WA | Full exemption to $450K, taper to $600K | Up to $14,440 |
| SA | Full exemption for new homes any value (since June 2024) | Up to $40,000+ |
| Tasmania | 50% concession to $750K | Up to $15,000 |
| ACT | Home Buyer Concession Scheme based on income, full exemption possible | Up to $35,000 |
| NT | Stamp duty discount up to $18,601 | Up to $18,601 |
Combining the Schemes
The biggest savings come from combining multiple schemes. A first home buyer in Brisbane buying a $650,000 new build could potentially access: First Home Guarantee (5% deposit, no LMI saving ~$25,000), Queensland FHOG ($30,000), Queensland stamp duty exemption ($21,850), and FHSS scheme ($50,000 from super at lower tax rates). Combined, that is over $125,000 of government assistance and tax savings on a single purchase. Always check that you meet ALL the eligibility criteria for each scheme — they can stack but each has its own income limits, value caps, and timing requirements.
Frequently Asked Questions
How much deposit do I need to buy a first home in Australia?+
The traditional minimum is 20% to avoid Lenders Mortgage Insurance (LMI). Under the First Home Guarantee scheme, eligible first home buyers can purchase with just a 5% deposit without paying LMI because the federal government guarantees up to 15% of the loan to the bank. Without the FHG scheme, banks will accept 5-10% deposits but charge LMI of $15,000-$40,000 on a typical $600,000-$800,000 purchase. The FHG scheme has 35,000 spots per year, so apply early in the financial year to secure a place.
What is the First Home Owner Grant in 2026?+
The First Home Owner Grant (FHOG) is a state-administered cash grant for eligible first home buyers. The amount varies by state: NSW $10K, Victoria $10K, Queensland $30K (boosted in November 2023), WA $10K (or $20K in regional areas), SA $15K, Tasmania $10K. ACT and most states now restrict the FHOG to NEW builds only (not established homes), and all have value caps. Apply through your state revenue office or via your conveyancer at settlement.
How does the First Home Super Saver scheme work?+
The FHSS scheme lets you make voluntary contributions into your super (concessional via salary sacrifice or non-concessional after-tax) up to $15,000 per financial year, with a lifetime maximum release of $50,000. When you are ready to buy, you apply to the ATO to release your voluntary contributions plus deemed earnings. Concessional contributions are taxed at 15% inside super (vs your marginal rate outside), then taxed at your marginal rate minus a 30% tax offset on release. For most middle-to-high income earners this produces a 10-15% tax saving compared to saving the same money outside super. The biggest catch: it can take 6-12 weeks for the ATO to release the funds, so apply BEFORE you find a property.
Do I have to pay stamp duty as a first home buyer?+
Often no, or much less than full price. Most states offer significant stamp duty concessions or full exemptions for first home buyers up to specific value caps. NSW has a full exemption up to $800,000 (taper to $1M). Victoria full exemption up to $600,000 (taper to $750,000). Queensland full exemption up to $700,000. SA has full exemption for new homes at any value since June 2024. WA full exemption up to $450,000. Always check your state revenue office for current rules — they change frequently with state budgets.
Can I use my super to buy a first home?+
Yes, through the First Home Super Saver scheme — but only voluntary contributions you specifically made for the FHSS, not your full super balance. You cannot withdraw your employer SG contributions or pre-FHSS savings from super to buy a home. The FHSS scheme has a lifetime cap of $50,000 (per person) and you must apply for an FHSS Determination from the ATO before signing any property contract. The funds typically take 6-12 weeks to be released, so plan ahead.
What is the income limit for the First Home Guarantee?+
For the 2025-26 financial year, the First Home Guarantee income limits are $125,000 for individuals and $200,000 for couples (combined). These are based on your taxable income from the previous financial year. The Regional First Home Buyer Guarantee and the Family Home Guarantee for single parents have the same limits. The FHG also has property price caps that vary by location: $900,000 in Sydney, $800,000 in Melbourne, $700,000 in Brisbane and most other capital cities, and lower amounts in regional areas.
Can I buy an investment property as a first home buyer?+
No, not under most first home buyer schemes. The First Home Owner Grant, First Home Guarantee, and most state stamp duty concessions all require you to live in the property as your principal place of residence for a minimum period (usually 6-12 months continuous within the first 12 months after settlement). If you move out and rent it as an investment within that period, you typically have to repay the grant and pay back the stamp duty. The FHSS scheme also requires you to live in the home for at least 6 months in the first 12 months.
Should I buy a new home or established home?+
Both have pros and cons. Most state First Home Owner Grants are restricted to NEW homes only (not established), so buying new gets you $10,000-$30,000 in grants you would not get on an established home. New homes also have lower maintenance costs in the first 5-10 years and modern energy efficiency. Established homes are usually in better-established suburbs closer to existing infrastructure (schools, transport, employment), have larger land components, and tend to appreciate faster long-term in established areas. The right answer depends on your individual circumstances, location, and time horizon.
Sources & Disclaimer
First Home Guarantee: Housing Australia (formerly NHFIC) First Home Guarantee program. First Home Owner Grant: each state revenue office (NSW Revenue, State Revenue Office Victoria, Queensland Treasury, etc.). First Home Super Saver scheme: ATO First home super saver scheme page. Stamp duty concessions: each state revenue office. Property price caps: National Housing Finance and Investment Corporation FHG property price thresholds. This article is for educational purposes only and is not personalised financial advice.