Buying your first home in Australia in 2026 has never been more achievable. The landscape of government incentives has expanded significantly, opening doors for more Australians to step onto the property ladder sooner. From lower deposit requirements to generous grants and stamp duty concessions, here’s everything you need to know about the current first home buyer benefits and how you can take advantage of them.
1. The First Home Guarantee – Buy with Just 5% Deposit
The First Home Guarantee (FHBG), formerly known as the 5% Deposit Scheme, remains one of the most powerful tools for first home buyers. It allows eligible buyers to purchase a home with as little as 5% deposit and no Lenders Mortgage Insurance (LMI)—a saving of $15,000 to $25,000 in many cases.
Key Features in 2026:
- No income caps – accessible to all eligible buyers.
- No cap on places – since October 2025, applications are unlimited.
- Expanded price caps – up to:
- $1.5 million in Sydney
- $1 million in Brisbane and QLD regional centres
- $950,000 in Melbourne
This scheme is a game-changer, especially for buyers in high-demand markets who previously struggled to save a 20% deposit.
2. Family Home Guarantee – Helping Single Parents
Single parents or guardians with at least one dependent can benefit from the Family Home Guarantee, which allows home purchase with just 2% deposit and no LMI. This initiative acknowledges the challenge of saving a deposit on a single income, enabling single-parent households to buy sooner.
3. First Home Owner Grant (FHOG) – State-Based Support
The FHOG still offers valuable upfront cash for eligible purchases of new or substantially renovated homes, with grant amounts varying by state:
- Queensland: Up to $30,000
- South Australia: $15,000
- Victoria and NSW: $10,000
- Tasmania: $30,000
4. Stamp Duty Exemptions and Concessions
Stamp duty relief is often the most significant upfront saving. For example:
- NSW: Full exemption for properties up to $800,000; concessions up to $1 million.
- Victoria: Full exemption up to $600,000, concessions up to $750,000.
These exemptions can save buyers between $10,000 and $30,000, instantly reducing the funds needed at settlement.
5. Additional Federal Schemes
- Help to Buy (Shared Equity Scheme): Government contributes up to 40% for new homes and 30% for existing homes, reducing mortgage size.
- First Home Super Saver Scheme (FHSS): Save for a deposit inside your super fund with concessional tax benefits, potentially boosting your savings significantly.
Why 2026 is the Best Time for First Home Buyers
With unlimited FHBG places, no income caps, expanded property price limits, and stackable benefits (like state grants and stamp duty concessions), first home buyers could access $40,000–$75,000+ in combined benefits. This level of support makes entering the property market more achievable than it has been in years.
Federal Benefits
| Scheme | Benefit | Key Value |
|---|---|---|
| First Home Guarantee (Home Guarantee Scheme) | Buy with a 5% deposit and no Lenders Mortgage Insurance (LMI), with the Commonwealth guaranteeing part of the loan. | Potential LMI saving of $15,000-$30,000+. |
| Regional First Home Buyer Guarantee | Same benefit as above for eligible regional property purchases. | Buy in regional Australia with 5% deposit and no LMI. |
| Family Home Guarantee | Eligible single parents can purchase with as little as a 2% deposit without paying LMI. | Government guarantee of up to 18%. |
| Help to Buy | Shared-equity scheme where the Government contributes up to 40% of a new home or up to 30% of an existing home. | Deposit from 2%; substantially lower loan size. |
| First Home Super Saver Scheme (FHSSS) | Withdraw voluntary super contributions for a home deposit. | Up to $50,000 plus associated earnings. |
| 100,000 First Home Buyer Homes Program | New Federal housing initiative providing homes sold exclusively to first-home buyers at below-market pricing. | Long-term affordability support. |
Partner with an Expert
At Origin Finance, we specialise in guiding first home buyers through the maze of options—ensuring you maximise every dollar of government support. Talk to one of our friendly mortgage brokers today and take the first step towards your dream home.
State & Territory Benefits
| State/Territory | First Home Owner Grant (FHOG) | Stamp Duty Relief | Other Programs |
|---|---|---|---|
| NSW | $10,000 for eligible new homes up to applicable thresholds. | Full exemption up to $800,000 and concessions up to $1,000,000 under the First Home Buyers Assistance Scheme. | Can be combined with Federal schemes. |
| Victoria | $10,000 FHOG for eligible new homes. | Stamp duty exemption up to $600,000 and concessions up to $750,000. | Victorian Homebuyer Fund shared-equity program. |
| Queensland | FHOG up to $30,000 for eligible new homes. | First home concession and transfer duty relief available. | Additional concessions for owner-occupiers. |
| Western | FHOG typically $10,000 on eligible new homes. | Transfer duty concessions and exemptions for eligible first-home buyers. | Various Keystart low-deposit opportunities. |
| South Australia | FHOG generally $15,000 for eligible new homes. | Stamp duty relief arrangements available for eligible purchases. | State housing affordability initiatives. |
| Tasmania | FHOG generally $10,000. | Duty concessions available for eligible buyers. | Additional state housing assistance programs. |
| ACT | No FHOG currently. | Duty concessions and assistance programs for eligible buyers. | Home Buyer Concession Scheme. |
| Northern Territory | FHOG generally $10,000 for eligible new homes. | Various stamp duty concessions. | HomeGrown Territory shared-equity assistance. |
To get the full picture call Origin Finance on 1300 30 6767 to talk to one of our experienced First Home Buyer Experts or fill in the enquiry form: Contact | Origin Finance – Home Finance For Australians
