Buyer’s guide  ·  NSW

NSW first home buyer grants and assistance schemes

A plain English guide to the first home buyer grants and schemes open in NSW, including stamp duty relief, the $10,000 grant, the 5% Deposit Scheme and Help to Buy.

25 October 2024

Updated October 2026 to reflect current law.

Buying your first home is exciting, but the costs add up quickly. The good news is that if you are a first home buyer in NSW, there is real help available from both the NSW and Australian governments.

This guide explains each scheme that is open now, who is eligible, and how they can work together. It also tells you which older schemes have closed, so you do not plan around help that no longer exists.

First Home Buyers Assistance Scheme: stamp duty relief

Stamp duty (officially called transfer duty) is a tax you pay when you buy property. On a typical Sydney home it can be tens of thousands of dollars. The First Home Buyers Assistance Scheme removes or reduces it for eligible first home buyers.

If the home is worth $1 million or more, or the land is worth $450,000 or more, you pay full stamp duty. These thresholds apply to contracts exchanged on or after 1 July 2023, according to Revenue NSW.

Who is eligible?

• You must be an individual (not a company or trust) and over 18. Revenue NSW can waive these two rules in some cases.
• You, and your spouse or partner, must never have owned or co-owned residential property in Australia.
• You must not have received this exemption or concession before.
• At least one buyer must be an Australian citizen or permanent resident.
• For a home, you must move in within 12 months of settlement and live there for at least 12 months in a row.
• For vacant land, you must intend to build a home and meet the residence rule once it is built.

Your conveyancer or lawyer usually applies for the exemption or concession for you after contracts are exchanged. If you are a foreign person, you may still have to pay surcharge purchaser duty.

First Home Owner Grant (New Homes): $10,000

The First Home Owner Grant (New Homes) is a one-off $10,000 payment. It is only for new homes. You cannot get it for an established (previously lived in) home.

• Buying a new home (house, townhouse, unit or similar): the price must be $600,000 or less.
• Buying land and building: the land, building contract and any variations must total $750,000 or less.
• Substantially renovated home: the price must be $600,000 or less.

Who is eligible?

• You must be an individual aged 18 or over (not a company or trust).
• At least one buyer must be an Australian citizen or permanent resident.
• You, and your spouse or partner, must not have owned a home in Australia before (some limited exceptions apply).
• You must not have received a first home owner grant anywhere in Australia before.
• You must move in within 12 months and live there for at least 12 months in a row. If you do not, you may have to repay the grant.

Revenue NSW says the grant may be paid in addition to other exemptions or concessions. In practice, many buyers of new homes under $600,000 receive the grant and pay no stamp duty.

Australian Government 5% Deposit Scheme

This federal scheme was known as the Home Guarantee Scheme until it was expanded and renamed on 1 October 2025. It is run by Housing Australia through firsthomebuyers.gov.au.

Normally, if your deposit is less than 20%, your lender charges lenders mortgage insurance (LMI). LMI protects the bank, not you, and can cost thousands of dollars. Under this scheme, the government guarantees part of your loan, so you can buy with a 5% deposit and pay no LMI.

• First home buyers: minimum 5% deposit.
• Single parents and legal guardians: minimum 2% deposit.
• No income caps for applications from 1 October 2025, and no limit on the number of places.
• NSW price caps: $1,500,000 in Sydney and the regional centres (Central Coast, Illawarra, Newcastle and Lake Macquarie, Richmond-Tweed, Mid North Coast, and Coffs Harbour to Grafton). $800,000 in the rest of NSW.
• You must apply through a participating lender and live in the home.

A smaller deposit means a bigger loan and higher repayments. Make sure the repayments suit your budget.

Australian Government Help to Buy scheme

Help to Buy is a federal shared equity scheme. Shared equity means the government pays part of the price and owns that share of your home. Applications opened on 5 December 2025.

• The government contributes up to 40% for a new home or 30% for an existing home.
• You need a minimum 2% deposit.
• Income caps apply. At October 2026, the published caps are $103,000 for individuals and $165,000 for joint applicants and single parents.
• Property price caps apply, which depend on where you buy.
• You must not own any other property, in Australia or overseas.
• You can buy back the government’s share over time. You must repay it when you sell the home.

Places are limited each year, and you apply through a participating lender. Check the current caps on firsthomebuyers.gov.au before you start.

First Home Super Saver Scheme

The First Home Super Saver Scheme, run by the ATO, lets you make extra voluntary contributions to your super and later withdraw them (with associated earnings) to put towards your first home. You can withdraw up to $50,000 of eligible contributions. Because super is taxed at a lower rate, this can help you save faster. Speak to your accountant or financial adviser about whether it suits you.

Which first home buyer schemes have closed?

• First Home Buyer Choice: this let buyers pay an annual property tax instead of stamp duty. It closed to new purchases on 1 July 2023 and was replaced by the expanded First Home Buyers Assistance Scheme.
• Shared Equity Home Buyer Helper (NSW): this NSW pilot closed to new applicants on 30 June 2024. People already in it are still managed by Revenue NSW. New buyers should look at the federal Help to Buy scheme instead.
• Regional First Home Buyer Guarantee: closed to new applicants when the 5% Deposit Scheme was expanded on 1 October 2025.

Can you combine first home buyer schemes?

Often, yes. For example, if you buy a new unit in NSW for $580,000, you may be able to get:

• a full stamp duty exemption under the First Home Buyers Assistance Scheme,
• the $10,000 First Home Owner Grant (New Homes), and
• a home loan with a 5% deposit and no LMI under the 5% Deposit Scheme.

Each scheme has its own rules. Some federal schemes cannot be used together, so check with your lender. If you need help from a parent, a family guarantee is another option.

First home buyer FAQs

Do I lose the stamp duty exemption if I rent the home out?

You must move in within 12 months and live there for 12 months in a row. If you rent it out before then, you will usually have to repay the duty, plus interest.

I owned a home with my ex-partner. Am I a first home buyer?

Usually not for the NSW stamp duty scheme or the grant, as both require that you have never owned a home in Australia. The federal schemes have their own rules, so check each one.

Can I use these schemes to buy at auction?

Yes, but get your finance approved and your contract checked first. There is no cooling-off period at auction. Read our auction buyer guide.

Who applies for the stamp duty exemption?

Your lawyer or conveyancer usually lodges it with Revenue NSW for you after exchange. You will need to sign a declaration and provide ID.

This article is general information only and is not legal advice. It reflects NSW and Australian law at the date of publication. Please contact us for advice about your circumstances.

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