As house prices continue to increase, First Home Buyers may need assistance when looking at getting onto the property ladder and buying their first home.

Let’s take a look at what is available for first home buyers on a Federal & State Level.

First Home Owner Grant – Queensland

The Queensland Government provides incentives for people wishing to buy their first home in Queensland, on the basis that they are buying a new home.

First home buyers can claim:

  • $30,000 for contracts signed between 20 November 2023 and 30 June 2025 (both dates inclusive)
  • $15,000 for contracts signed before 20 November 2023.

To be eligible for this grant:

  • The value of your new home must be less than $750,000 (including land and any contract variations).
  • You must be buying a new or substantially renovated home.
  • You must be 18 years or older
  • You must be an Australian citizen or permanent resident (or applying with someone who is).
  • You or your spouse must not have previously received a first home owner grant in any state or territory of Australia.
  • You or your spouse must not have owned residential property in Australia prior to 1 July 2000

First Home Buyer Stamp Duty Concession – QLD

From 1 May 2025, first home buyers who enter into a contract to purchase a new home to live in (or vacant land on which to build a home to live in) will be able to apply for a full transfer duty concession (reducing the duty to nil).

The first home concession only applies to a home valued under $800,000 and can save you up to $24,525.

To be eligible for a first home concession when you buy or acquire a home, you must:

  • be legally acquiring the property as an individual
  • have never claimed the first home vacant land concession
  • have never held an interest in another residence anywhere in Australia or overseas
  • be at least 18 years of age
  • move into it with your personal belongings and live there on a daily basis within 1 year of settlement (this time cannot be extended)
  • You do not sell the property within 1 year of purchase.

First Home Guarantee – Federal

The First Home Guarantee (FHBG or Guarantee) is an Australian Government initiative to support eligible home buyers to buy a home sooner. It is administered by Housing Australia under the Home Guarantee Scheme (Scheme) on behalf of the Australian Government.

Usually, home buyers with less than a 20 per cent deposit need to pay lenders mortgage insurance. Under the First Home Guarantee, eligible home buyers can purchase a modest home with a deposit of as little as 5 per cent (lenders criteria apply). This is because Housing Australia guarantees to a participating lender up to 15 percent of the value of the property purchased that is financed by an eligible home buyer’s home loan.

To apply for the FHBG, home buyers must be:

  • applying as an individual or two joint applicants
  • an Australian citizen(s) or permanent resident(s)* at the time they enter the loan
  • at least 18 years of age
  • earning up to $125,000 for individuals or $200,000 for joint applicants, as shown on the Notice of Assessment (issued by the ATO)
  • intending to be owner-occupiers of the purchased property
  • First home buyers or previous homeowners who haven’t owned or had an interest in a real property in Australia (this includes owning land only) in the past ten years.

Source: NSW & Australian Governments