Buying a home is one of life’s biggest milestones, and in 2026, there are still several government initiatives in place to help make it more achievable, particularly for first home buyers. Whether you’re planning to enter the market this year or simply exploring your options, here’s a clear snapshot of the key assistance available at both a Victorian and federal level.
First Home Owner Grant
The First Home Owner Grant is a $10,000 payment designed to help eligible first home buyers purchase or build a new home in Victoria.
The grant applies to properties in Victoria that are:
~ Valued at up to $750,000
~ New and not previously sold or occupied as a home
~ Used as the applicant’s principal place of residence
Stamp Duty Savings
The Victorian Government offers stamp duty concessions to eligible first home buyers, which can significantly reduce upfront purchase costs:
~ No stamp duty on properties valued up to $600,000
~ Reduced stamp duty on properties valued between $600,001 and $750,000
5% Deposit Scheme
Under the Australian Government’s expanded Home Guarantee programs:
~ Eligible first home buyers may purchase with as little as a 5% deposit
~ Eligible single parents or legal guardians may be able to buy with as little as a 2% deposit
~ No Lenders Mortgage Insurance (LMI) is required
~ Income caps and participant limits have been removed, making the scheme more widely accessible
~ The property must be owner-occupied and used as the applicant’s principal place of residence
~ Property price caps apply and are set by state and location
~ In Warrnambool and Regional Victoria, eligible buyers may purchase properties valued up to $650,000 with a 5% deposit.
First Home Super Saver Scheme
Eligible first home buyers may be able to use voluntary superannuation contributions of up to $50,000 per person toward a home deposit. This scheme can help boost savings through potential tax advantages, allowing buyers to save for a deposit more effectively.
Off-the-Plan Stamp Duty Concessions
Buying off the plan means purchasing a property before construction is completed, and in some cases, before construction has even started. Eligible buyers may qualify for a stamp duty concession, which can significantly reduce upfront costs. Importantly, this concession is not limited to first home buyers.
Help to Buy Scheme
The Help-to-Buy Scheme is a shared equity initiative from the Australian Government that helps eligible home buyers get into a home sooner when they’ve saved some money but don’t have enough for a full deposit. When you buy a home through Help to Buy, you will own the home but share some of the value with the Government. As the Australian Government has contributed to purchasing the property, the Government will proportionally share any gains or losses made when you sell your home or when you buy out the Government’s equity share.
Learn More
For the most up-to-date information, we recommend visiting:
First Home Buyers – firsthomebuyers.gov.au
State Revenue Office Victoria – www.sro.vic.gov.au
Housing Australia – www.housingaustralia.gov.au
This information is for general guidance only. Eligibility, grants, and concessions may change and depend on individual circumstances. Please seek independent advice and confirm details with the State Revenue Office Victoria or Housing Australia before making any property decisions.