Every few years a new government scheme launches with a press release and a lot of noise. First home buyers read about it, get excited, and then discover the eligibility rules are narrower than the headline suggested.
This is not that article. What follows is a plain-English breakdown of what actually exists right now, what it covers, what it doesn't, and what to do about it before key deadlines pass.
Government support for first home buyers in Australia falls into two broad categories.
The first is cash grants -- money paid directly to eligible buyers, typically only available for new homes.
The second is stamp duty concessions and exemptions -- reductions in the transfer duty you pay when purchasing a property. These can be worth more than the grants in some states.
There are also federal guarantee schemes that allow eligible buyers to purchase with a smaller deposit without paying lenders mortgage insurance. These are separate from both grants and stamp duty concessions.
Understanding which of these applies to your situation, and in which combination, is where most first home buyers leave money on the table.
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The First Home Guarantee allows eligible first home buyers to purchase with a 5 per cent deposit without paying lenders mortgage insurance. The federal government guarantees up to 15 per cent of the purchase price to make up the shortfall.
For 2025-26, 35,000 places are available. Income thresholds apply -- $125,000 for singles and $200,000 for couples -- and property price caps vary by location.
This scheme is available for both new and established properties, which makes it one of the more flexible federal options available.
The Family Home Guarantee targets single parents and single legal guardians. Eligible buyers can purchase with as little as a 2 per cent deposit, with the government guaranteeing up to 18 per cent of the purchase price. LMI does not apply.
This scheme is not limited to first home buyers, though first home buyers can access it if they meet the criteria.
The federal government's shared equity scheme allows eligible buyers to purchase with as little as a 2 per cent deposit. The government co-contributes up to 40 per cent of the purchase price for a new home or 30 per cent for an existing property, taking an equivalent equity stake.
Income thresholds apply: $90,000 for singles and $120,000 for couples. This is one of the most meaningful schemes for buyers on moderate incomes who can service a mortgage but struggle to save a deposit.
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NSW offers a $10,000 grant for eligible first home buyers purchasing or building a new home. The property must be valued at $600,000 or less for a purchase, or $750,000 or less for a house and land package.
The grant applies to newly built homes, off-the-plan purchases, and substantially renovated properties. It does not apply to established homes.
This is where NSW first home buyers can find significant savings. Under the First Home Buyers Assistance Scheme, eligible buyers pay no stamp duty on properties valued under $800,000. A reduced rate applies for properties between $800,000 and $1,000,000.
On an $800,000 property, stamp duty would ordinarily be around $31,000. The exemption eliminates that cost entirely for eligible buyers. That is a more meaningful saving than the $10,000 grant for most buyers.
The NSW Government can contribute up to 40 per cent of the purchase price for a new home, or 30 per cent for an existing property, under this shared equity program. Buyers can secure a mortgage with as little as a 2 per cent deposit while retaining majority ownership.
This scheme is income-tested and targeted at key workers, single parents, and older single buyers.
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Queensland's First Home Owner Grant currently sits at $15,000 for eligible first home buyers purchasing a new home. The grant was temporarily increased to $30,000 for contracts signed on or before 30 June 2026 and has now reverted to the standard amount.
The grant applies to new homes valued at $750,000 or less, including off-the-plan purchases. It does not apply to established properties.
Queensland first home buyers may also be eligible for stamp duty concessions on properties valued up to $700,000, with a reduced rate applying between $700,000 and $800,000.
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WA offers a $10,000 grant for eligible first home buyers purchasing or building a new home. The property must be a new home valued at $750,000 or less.
For transactions entered into on or after 21 March 2025, WA first home buyers can access stamp duty concessions on properties valued up to $700,000 in the Perth metropolitan and Peel regions, and up to $750,000 outside those regions. Concession amounts vary by purchase price.
Most state-based cash grants and a significant number of stamp duty concessions apply specifically to new homes, not established properties. Off-the-plan purchases typically qualify.
That alignment matters. If you are considering buying off the plan -- which already gives you the benefit of locking in today's price and spreading your deposit over the construction period -- you are also most likely to be eligible for the full suite of available grants and concessions in your state.
Through Coposit, eligible off-the-plan developments can be secured with $10,000 upfront and the remaining deposit spread across weekly instalments during construction. Combined with applicable state grants and federal guarantee schemes, the total upfront cost of getting into your first property can be significantly lower than most buyers assume.
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If you are in Queensland: the $30,000 grant deadline of 30 June 2026 is days away. If you are close to ready to buy a new home valued under $750,000, this is worth urgent attention.
If you are in NSW: the stamp duty exemption on properties under $800,000 is often worth more than the cash grant. Make sure you understand both before assuming the grant is the main prize.
Across all states: the federal guarantee schemes are separate from state grants and can be stacked alongside them. Getting advice from a mortgage broker who understands both layers is worth doing before you make any commitments.
Most of the grants and concessions covered in this article apply specifically to new homes and off-the-plan purchases. Through Coposit, eligible developments across NSW, QLD, and WA can be secured with $10,000 upfront, with the remaining deposit spread across weekly instalments during construction, meaning the schemes and the deposit structure work together rather than separately.Browse eligible new developments on the Coposit projects page here, download the Coposit app to explore what's available, or contact the Coposit team if you want help understanding which schemes apply to your situation before you commit.
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