Current First Home Benefits in Australia (2026): What You Need to Know
Buying your first home in Australia has never been more achievable thanks to a range of government incentives and schemes designed to ease the financial burden. In 2026, these benefits are more generous and accessible than ever, with the First Home Guarantee leading the charge. Here’s a comprehensive look at what’s available and how you can take advantage of these opportunities.
- The First Home Guarantee (Formerly the 5% Deposit Scheme)
The First Home Guarantee (FHBG) is a federal initiative under the Home Guarantee Scheme that allows eligible first-home buyers to purchase a property with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI).
Key Features:
- Deposit as low as 5% – No need to save the traditional 20%.
- No LMI – This can save buyers between $15,000 and $25,000.
- Unlimited places – Since October 2025, there are no caps on the number of applicants.
- No income limits – Previously restrictive income caps have been removed.
- Higher property price caps – Up to $1.5 million in Sydney, $1 million in regional NSW and QLD, and $950,000 in Melbourne.
This expansion means more Australians can enter the property market sooner, even in high-demand areas.12
- Family Home Guarantee
For single parents or legal guardians with at least one dependent, the Family Home Guarantee allows you to buy a home with as little as 2% deposit, also without LMI. This is a game-changer for single-income households.3
- First Home Owner Grant (FHOG)
The First Home Owner Grant is a state-based initiative offering a one-off payment to eligible buyers purchasing or building a new home.
- Grant amounts vary by state (e.g., up to $30,000 in Queensland).
- Conditions differ, but generally, the property must be new or substantially renovated.4
- Stamp Duty Concessions and Exemptions
Most states and territories offer stamp duty exemptions or concessions for first-home buyers. For example:
- NSW: Full exemption for properties up to $800,000, concessions up to $1 million.
- VIC: Full exemption up to $600,000, concessions up to $750,000.
These savings can amount to tens of thousands of dollars.5
- Additional Federal Support
- Help to Buy (Shared Equity Scheme) – Government contributes up to 40% for new homes and 30% for existing homes, reducing your mortgage.
- First Home Super Saver Scheme – Save for your deposit inside superannuation for tax benefits.5
Why These Changes Matter
With unlimited places, no income caps, and higher property price limits, the First Home Guarantee is now more inclusive than ever. Combined with state grants and stamp duty concessions, first-home buyers could access $40,000–$75,000+ in combined benefits, depending on location.
Contact your Origin First Home Expert on 1300306767 or Enquire Here
