The First Home Buyers Grant is Ending - What Other Grants Are There?

28th April 2025

Finance & Budgeting Pre-Construction First Home Buyer News & Industry Insights

The article explores the end of the First Home Buyers Grant in some Australian states and highlights other major grants, schemes, and concessions still available. It offers a state-by-state breakdown and explains shared equity options, stamp duty savings, and government-backed guarantees to help first-time buyers get into the market.

The First Home Buyers Grant is Ending - What Other Grants Are There?

With the First Home Owner Grant (FHOG) wrapping up in some Australian states, many first-time buyers are scrambling to secure their spot before it disappears. But the good news? It is not the only support option on the table.

In this episode of the Home Building Hub, hosts Colin Bischof and Darren Brennan run through the key grants, schemes and concessions available right now to help you get into your first home sooner. Here is a breakdown of what you need to know.

First Home Owner Grant (FHOG) - By State

Victoria

• $10,000 for new homes up to $750,000

• Must live in the home for 12 months

• Ending 30 June 2025

New South Wales

• $10,000 for new or substantially renovated homes

• $600,000 cap for new homes or $750,000 for land and build

• Must live in the home for 12 months

Queensland

• $30,000 for new homes under $750,000

• Must sign contract by 30 June 2025

• Live in home for 6 months within 12 months

South Australia

• $15,000 for homes under $650,000

• Must live in the home for 6 months within 12 months

Western Australia

• $10,000 for new or substantially renovated homes

• Price cap: $750,000 (South), $1 million (North)

Tasmania

• $10,000 for new homes (no cap specified)

Northern Territory

• $10,000 for new or substantially renovated homes (no cap)

ACT

• No active first home owner grant at the time of recording

Other Key Government Schemes & Support

1. Victorian Homebuyer Fund (Shared Equity Scheme)

• Government contributes up to 25% of the home’s purchase price

• Buyers need just a 5% deposit

• Only applies to new homes with a certificate of occupancy

• You can buy back the government’s share over time

• Capital gains or losses are shared proportionately

2. Federal Help to Buy Scheme

• Shared equity scheme (up to 40% for new homes, 30% for existing)

• Income caps apply: $100k for singles, $160k for couples

• You can buy back the government’s share after 5 years

3. Home Guarantee Scheme (National)

• Avoid paying Lenders Mortgage Insurance (LMI)

• Only a 5% deposit needed

• Several programs available:

• • First Home Guarantee

  • Family Home Guarantee (as low as 2% deposit)

  • Regional First Home Buyer Guarantee

4. Stamp Duty Exemptions & Concessions (Victoria)

• Full exemption for homes under $600,000

• Concession for homes between $600,000 and $750,000

Why It Matters

Many Australians simply do not know what they are eligible for. Thousands of dollars in grants, discounts and support can go unclaimed just because people did not ask the right questions. Even more reason to speak to a broker who specialises in new home construction - not just your everyday home loan.

Preferred experts mentioned:

• Steve Matsoukas (Loan Gallery)

• Mark Polatkesen (Mortgage Domain)

Key Takeaways

• The Victorian FHOG is ending 30 June - act fast if eligible.

• Queensland currently has the most generous grant at $30,000.

• Shared equity schemes and home guarantees are strong alternatives.

• You may be able to avoid LMI with as little as a 5% deposit.

• Speak to a specialist broker who understands construction lending.

Frequently Asked Questions (FAQ)

Q: Can I still qualify if I bought a property more than 10 years ago? A: In some schemes like the regional first home buyer guarantee, yes - as long as it has been 10+ years since you last owned a home.

Q: What happens if the property value goes up with a shared equity scheme? A: The government shares in the increase (and the decrease, if the value drops).

Q: Where do I check eligibility? A: Visit official government sites such as the State Revenue Office, Housing Australia (for the Home Guarantee), or Help to Buy.

Glossary of Terms

• FHOG - First Home Owner Grant

• LMI - Lenders Mortgage Insurance

• Certificate of Occupancy - A document confirming a home is ready to live in

• Equity - The value of ownership in your home

• Deposit - The initial amount paid towards your home loan

Want to Learn More?

Listen to the full episode here: The First Home Buyers Grant is Ending - What Other Grants Are There?

About the Home Building Hub Podcast The Home Building Hub podcast, hosted by industry experts Colin Bischof and Darren Brennan, is Australia’s premier resource for new home buyers. With weekly episodes featuring special guests, the podcast provides objective, high-quality insights into the home building process—completely free and without sales pitches. From understanding financing options to navigating the complexities of building a new home, each episode is packed with actionable advice and tips.

Explore more episodes at www.homebuildinghub.com.au and join our growing community of informed home buyers.

Disclaimer Whilst we’re all about providing value to you, this article should not be considered as legal or financial advice. It contains general information only and is based on the content discussed during the podcast episode. This information is relevant to the episode’s release date and may not be applicable at the time of reading. Always seek independent professional advice tailored to your personal situation before making any legal or financial decisions.