Original analysis of every Australian federal and state first home buyer scheme — what's changed in 2025–26, where the money is, who actually qualifies, and what to watch in 2027. Compiled from primary sources, with figures verified 5 October 2026.
Three federal changes and four state changes reshaped the first home buyer landscape in 2025 and the first nine months of 2026. If you're starting your research now, you might find older guides wrong on several key figures — including this site's own.
This is the headline ranking. "Total benefit" estimates assume an eligible buyer, a $700K new home, and stacking the federal 5% scheme + state FHOG + state stamp duty exemption + FHSS. The numbers are indicative — actual savings depend on your state, price, and personal situation.
| Rank | State | Indicative total benefit (new home, $700K) | Biggest single benefit |
|---|---|---|---|
| 1 | QLD | ~$95,000 | $30K FHOG + $0 duty on new + $25K LMI waived |
| 2 | NT | ~$95,000 | $50K HomeGrown + House & Land exemption + $25K LMI waived |
| 3 | SA | ~$75,000 | $15K FHOG + $0 duty on new + $25K LMI waived + HomeStart option |
| 4 | ACT | ~$60,000 | $0 duty at any price + $25K LMI waived |
| 5 | NSW | ~$55,000 | $0 duty ≤$800K + $10K FHOG (new) + $25K LMI waived |
| 6 | VIC | ~$41,000 | $10K FHOG (new) + duty ≤$600K + $25K LMI waived |
| 7 | WA | ~$35,000 | $10K FHOG (new) + duty ≤$600K + $25K LMI waived |
| 8 | TAS | ~$25,000 | $20K FHOG (new) + new-home duty exemption + $25K LMI waived |
These are new home figures. For established homes, the picture changes — particularly in TAS where the established-home duty exemption expired on 30 June 2026, and in NSW, VIC, WA where established homes still get the full or partial duty exemption.
The 5% Deposit Scheme is the dominant federal pathway. It lets eligible first home buyers buy with 5% deposit and no LMI. The Government guarantees the next 15% of the property value to participating lenders.
The 1 October 2025 expansion was a structural shift. Before that, the scheme had:
After 1 October 2025, all three are gone. Anyone who qualifies as a first home buyer (citizen or permanent resident, not currently owning property) can use the scheme, regardless of income, with the property price cap varying by state.
Property price caps by state (5% Deposit Scheme, post-October 2025):
| State | Cap (metro / regional) |
|---|---|
| NSW | $1,500,000 (Sydney, Newcastle, Wollongong) / $1,500,000 (regional centres) |
| VIC | $950,000 (Melbourne) / $650,000 (regional VIC) |
| QLD | $1,000,000 (Brisbane, Gold Coast, Sunshine Coast) / $700,000 (regional QLD) |
| WA | $850,000 (Perth metro) / $600,000 (regional WA) |
| SA | $900,000 (Adelaide) / $500,000 (rest of SA) |
| TAS | $700,000 (metro) / $550,000 (regional) |
| ACT | $1,000,000 |
| NT | $600,000 |
Help to Buy is the most transformative scheme for buyers under the income caps. The Government co-owns up to 40% of a new home (30% of an existing home). You save a 2% deposit. The Government's share comes out of your sale proceeds when you sell, or earlier if you choose to "staircase out" by buying back the equity.
Income caps apply:
10,000 places per year for 4 years (40,000 total). As of October 2026, all participating lenders are accepting applications. Property price caps vary by state from $600K (NT) to $1.3M (NSW).
The trade-off: when you sell, the Government takes its percentage share of any capital gain. So if you buy at $700K and sell at $900K with the Government owning 40%, the Government gets $360K and you get $540K. You walk away with a $540K profit — but you also lived in the home for years and weren't paying rent.
The state First Home Owner Grant is the most familiar cash benefit. Here's where the numbers stack up for new homes in 2026:
| State | FHOG amount | Property cap | Notes |
|---|---|---|---|
| QLD | $30,000 | $750,000 | Extended in 2026-27 Budget — no current end date |
| TAS | $20,000 | No cap | From 1 July 2026 (was $30K); for 12 months only |
| SA | $15,000 | No cap | Since 6 June 2024 |
| NSW | $10,000 | $600K standalone / $750K house & land | New homes only |
| VIC | $10,000 | $750,000 | New homes only, statewide |
| WA | $10,000 | $800K (south) / $1M (north) | From 7 May 2026 |
| ACT | $0 | — | Abolished cash FHOG in 2019; duty relief instead |
| NT | $50,000 (HomeGrown) | No cap | New homes, contracts by 30 Sep 2026 |
The NT's HomeGrown Territory Grant is technically not called an "FHOG" but it functions identically. It's the largest single cash grant in Australia.
Stamp duty is the second-largest upfront cost after the deposit. For first home buyers, every state offers some form of relief — but the shape varies wildly.
| State | New home duty | Threshold |
|---|---|---|
| NSW | $0 | ≤$800K; sliding to $1M |
| VIC | $0 | ≤$600K; sliding to $750K |
| QLD | $0 | Any price (new home / vacant land) |
| WA | $0 | ≤$600K; sliding to $800K |
| SA | $0 | Any price (new home / vacant land) |
| TAS | $0 | Any price (new home only) |
| ACT | $0 | Any price, any income (from 1 July 2026) |
| NT | $0 (house & land package) | Any price; House & Land Package Exemption to 30 June 2027 |
For new homes in 2026, stamp duty is functionally abolished for first home buyers in every Australian state and territory. The differentiator is now whether you qualify for the concession or exemption — and the threshold for established homes.
Keystart is a WA Government-backed low-deposit lender. As of April 2026:
Keystart is the primary low-deposit pathway in WA. It complements (rather than replaces) the 5% Deposit Scheme — a Keystart buyer can also use the federal 5% scheme, though usually only one or the other makes sense.
HomeStart is SA's equivalent — a Government-backed low-deposit lender. Key features:
HomeStart's shared equity option is genuinely additive — it stacks on top of the federal 5% Deposit Scheme in some scenarios, although not all lenders allow it.
The most generous combined stack in 2026 belongs to QLD buyers buying new builds under $750K:
Total potential stack: $100,000+ in cash benefits + LMI waived, on a $700,000 home. That's the difference between being able to buy and not being able to buy.
Three state budgets and one federal election will shape 2027:
All figures in this report are sourced from primary government or regulatory authorities, last verified on 5 October 2026:
Where a threshold or grant amount is subject to a sunset or unpassed legislation, we have flagged it. Where the figure is from a budget that has not yet been passed by Parliament, we say so explicitly.
Indicative "total benefit" figures in the state comparison table assume an eligible first home buyer, a $700,000 new home, and stacking the federal 5% Deposit Scheme (which waives ~$25K in LMI), the state FHOG (where eligible), the full state stamp duty exemption (assuming new home), and FHSS as part of the deposit stack. Actual benefits depend on individual circumstances and lender policies.
The next scheduled review of this report is January 2027, after most state budgets have been handed down. If you spot a figure that has changed since publication, tell us.
lodeposit.com.au is an independent editorial site. We are not a lender, broker, scheme administrator, or financial adviser. We don't accept payment for editorial coverage of any scheme, lender, or project. Where we recommend pathways (federal 5% Deposit Scheme, Help to Buy, Keystart, HomeStart, FHSS), we do so because they're publicly available pathways — not because we have a commercial relationship with the scheme administrator.
This report is editorial, not financial advice. Your circumstances are different from those assumed in our indicative calculations. Always confirm eligibility and specifics with the relevant authority and a licensed mortgage broker before relying on this information.
We compiled this report from primary sources — Housing Australia, each state revenue office, the ATO, and Cotality. We are not a financial-services licensee. We don't recommend any particular lender, broker, or property project. Where we cite specific figures, we link to the primary source. Editorial independence is a precondition of our existence; we don't accept payment for coverage of any scheme, lender, or developer.