Buying your first home in Australia in 2026 means navigating a landscape of federal and state government schemes, grants, and guarantees that can — if used correctly — significantly reduce the upfront cost of entering the property market.
The challenge is that the system is complex, eligibility rules vary between states and territories, and schemes frequently change. Here is a plain-English breakdown of the key assistance available to first home buyers across Australia right now.
Federal Government Schemes
First Home Guarantee (formerly First Home Loan Deposit Scheme)
This scheme allows eligible first home buyers to purchase a home with as little as a 5 percent deposit without paying Lenders Mortgage Insurance (LMI). The federal government guarantees the remaining deposit amount (up to 15 percent) through a participating lender. Places are limited each financial year and income and price caps apply.
Regional First Home Buyer Guarantee
A similar scheme specifically for buyers purchasing in regional Australia, also requiring only a 5 percent deposit and covering LMI through a government guarantee.
Help to Buy (Shared Equity Scheme)
The federal government’s shared equity scheme allows eligible buyers to co-purchase a home with the government taking a stake of up to 40 percent for new builds or 30 percent for existing properties. This reduces the deposit and mortgage size required. Income caps apply.
State-Based Grants and Concessions
Each state and territory offers its own first home buyer grant and/or stamp duty concessions, with amounts and eligibility criteria varying significantly.
In New South Wales, eligible first home buyers can access stamp duty exemptions on properties up to a certain threshold, and the First Home Owner Grant is available for eligible new home purchases.
Victoria, Queensland, Western Australia, and South Australia all offer their own versions of first home owner grants and concessions — the amounts and conditions differ in each state, so checking the relevant state revenue office website is essential before making any assumptions.
What First Home Buyers Should Do First
Before engaging with any scheme, get pre-approval from a lender so you have a clear picture of your borrowing capacity. Then speak with a mortgage broker who specialises in first home buyer lending — they can identify which combinations of federal and state schemes you’re eligible for and structure your application accordingly.
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