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Your Guide To First Home Owner Grants In Every Australian State And Territory

first home buyer

At any given time, one in five owner-occupiers buying property are doing it for the first time; the Australian Bureau of Statistics puts the exact proportion at 17.9 per cent at the end of 2017.

While rising prices have restricted first home buyers (FHBs) in the last few years, these figures show it’s still a clear possibility for a large number of Australians. One of the best ways to get financial assistance with a first-time purchase is using government grants. But depending on where you buy, you’re going to face very different requirements and receive very different amounts.

Do you know how much you’re able to get?

First home owner grant in New South Wales

Maximum amount: $10,000

FHBs in New South Wales face some of the highest property prices in the country – something the State government has taken positive steps to mitigating. The NSW first home owners grant (FHOG) gives consumers a maximum of $10,000, as long as:

  • They are buying a new home valued at $600,000 or less, or
  • Building a new home valued up to $750,000.

There are additional concessions on stamp duty for properties under $800,000, while buyers are not required to pay any stamp duty at all on homes under $650,000. Depending on the initial property value, this can save FHBs an additional $30,000.

First home owner grant in Victoria

Maximum amount: $20,000

The Victorian FHOG amount varies depending on where you buy. Buyers can receive up to $20,000 for a new home (built or bought) in regional Victoria, and $10,000 for the same kind of property purchased or developed in metropolitan areas. The maximum property value for accessing this grant is $750,000.

There are further concessions available if the home is your principal place of residence (PPR), or if you are a pensioner, off-the-plan buyer, young farmer or purchasing a home between $600,001 and $750,000.

First home owner grant in Tasmania

Maximum amount: $20,000

In Tasmania, the first home buyer grant is only $20,000 on a temporary basis. From July 1 2018, transactions for new, built or bought properties will only carry an FHOG of $10,000.

This must be for a comprehensive building contract, owner-builder construction, or purchase of a new property. For those seeking to build and claim the FHOG, construction must be completed within 24 months of the start date to remain eligible.

First home owner grant in Queensland

Maximum amount: $20,000

Meanwhile, first home buyers in Queensland can claim $20,000 if their contract to build or buy new property is signed before June 30, 2018. After this point, the grant reverts to $15,000.

Purchase or construction must be on a property with a maximum value of $750,000, and it must be occupied by you for the first six months of existence. If you have to move out during this time, the government may request that you pay back the grant.

First home owner grant in South Australia

Maximum amount: $21,330

In South Australia, the standard first home owners grant is $15,000 for the construction or purchase of a brand new property. However, there are additional concessions for people buying off-the-plan that see the amount increase to $21,330.

The market value ceiling for claiming the FHOG in South Australia is $575,000 – a figure that applies to the value of a construction after it is completed.

First home owners grant in Northern Territory

Maximum amount: $26,000

The Northern Territory’s first home owner grant is the biggest in the country, reaching $26,000 and with no upper threshold in terms of property value. While there is no grant for buyers of an established home, the NT Government does have discounts on stamp duty available for this kind of purchase.

First home owner grant in Western Australia

Maximum amount: $15,000

In Western Australia, the FHOG will vary depending on the location of your new purchase or build. An initial grant of $10,000 applies to relevant properties, with value thresholds of $750,000 south of latitude 26 (including Perth), and $1,000,000 above this level.

There is a further $5,000 available for those who are building a new home or buying off-the-plan. Builders must commence construction within 26 weeks of contracts being signed, and complete construction within 18 months. There is a hard limit for this boost, where contracts must be signed by June 30, 2019.

Finding the right grant for your needs

Right across Australia, there are grants and subsidies to make purchasing property easier for first home buyers.

If you’re currently looking to buy your first home, then you’re in luck! BOQ is running a $25K first home buyer competition, ending 31 March 2018. Find out more at or get in touch with your local BOQ branch.

This blog post is for general information purposes only and is not intended as financial or professional advice. It has not been prepared with reference to the financial circumstances of any particular person or business and should not be relied on as such. You should seek your own independent financial, legal and taxation advice before making any decision about any action in relation to the material in this article.


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