The schemes, as at October 2026
Here's what's on offer federally and in the four states where we're licensed, and what generally happens if you've owned an investment property. Each scheme has more conditions than fit in a table, so check the source.
| Scheme | What it offers | Established houses? | If you've owned an investment property |
|---|---|---|---|
| Federal 5% Deposit Scheme | Buy with a 5% deposit, no lenders mortgage insurance, within price caps | Yes | Not eligible if you've owned a home or land in Australia in the past 10 years |
| First Home Super Saver Scheme | Release voluntary super contributions for a deposit: up to $15,000 a year, $50,000 in total | Yes | Not eligible. The ATO says prior ownership includes an investment property (a hardship exception exists) |
| NSW First Home Buyers Assistance Scheme | No transfer duty up to $800,000, reduced duty up to $1 million | Yes | Not eligible: you and your partner must never have owned residential property in Australia |
| NSW First Home Owner Grant | $10,000 | No, new homes only | Can still be available if you never lived in it for six months (and owned nothing before 1 July 2000) |
| VIC first home buyer duty exemption or concession | No duty up to $600,000, reduced duty up to $750,000 | Yes | Prior ownership conditions apply: check with the State Revenue Office |
| VIC First Home Owner Grant | $10,000 | No, new homes only | Conditions apply: check with the State Revenue Office |
| QLD first home concession (transfer duty) | No duty on a first home valued at $700,000 or less, reduced duty under $800,000 | Yes | Not eligible: you must never have held an interest in another residence anywhere in Australia or overseas |
| QLD First Home Owner Grant | Up to $30,000 | No, new homes under $750,000 | Conditions apply: check with Queensland Revenue Office |
| SA First Home Owner Grant | Up to $15,000 | No, new homes only | Not eligible for contracts from 13 February 2025 if you've owned Australian residential property |
| SA stamp duty relief for first home buyers | Relief on new homes, off-the-plan apartments and land to build on | No | Not eligible for contracts from 13 February 2025 if you've held an interest in Australian residential property |
The federal 5% Deposit Scheme
This is the big one for anyone buying in a capital city. Since 1 October 2025 there's no income test and no limit on places. Price caps were lifted too: $1.5 million in Sydney, $950,000 in Melbourne, $1 million in Brisbane and $900,000 in Adelaide, with lower caps elsewhere in each state.
For context, Cotality's median house values at September 2026 were about $1.47 million in Sydney and $915,000 in Melbourne, under their caps, while Brisbane ($1.15 million) and Adelaide ($991,000) sat above theirs.
The ownership test is that you haven't owned a home or land in Australia in the past 10 years, counted from the sale of your last property. An investment property counts. If you sold it, the 10-year clock starts from that sale.
What you actually lose
For a buyer of an established house, the grants matter less than they first appear. In all four states, the First Home Owner Grant is for new homes only. The losses that bite are:
- The 5% Deposit Scheme. Without it, you need closer to 20% to avoid lenders mortgage insurance, or you pay it.
- Stamp duty concessions. In NSW and Queensland these apply to established homes and are lost once you've owned residential property. Depending on the price, that can be a large saving, and each revenue office's duty calculator shows the figure. Our piece on stamp duty for investors explains how duty is worked out.
- The First Home Super Saver Scheme. Lost once you've owned any property in Australia.
The honest trade-off
Investing first only makes sense if the investment is likely to deliver more than these schemes are worth to you, after holding costs, selling costs and tax. For some people the schemes are worth a lot: a home under the stamp duty threshold, bought with 5% down and no lenders mortgage insurance, can be within reach sooner than an investment plan would get them there.
For others, the target home is above the concession thresholds and price caps, so there's less to lose.
Selling the investment before you buy your home doesn't bring the schemes back straight away. The 5% scheme's 10-year period runs from the sale, and the state concessions and the super scheme look at whether you have ever owned property.
The schemes you'd give up are a real cost of investing first. They belong in the comparison alongside holding costs, selling costs and tax, valued against the home you actually want.
Where to check
A mortgage broker can tell you which schemes you qualify for today. The Escape Plan compares saving with investing first, and our guide, Should you invest before you buy your own home?, sets out when each path tends to win.
Sources
- Housing Australia, "First Home Buyers FAQ" (5% Deposit Scheme), October 2026
- Housing Australia, "Australian Government 5% Deposit Scheme fact sheet", October 2025
- Aussie, "State-by-state guide to buying with the Australian Government 5% Deposit Scheme", July 2026
- ATO, "Eligibility for the FHSS scheme", July 2026
- ATO, "About FHSS release amounts", July 2026
- Revenue NSW, "First Home Buyers Assistance Scheme", September 2026
- Revenue NSW, "First home buyer" and "New homes" (First Home Owner Grant), October 2026
- State Revenue Office Victoria, "First home buyer duty exemption or concession", September 2026
- Canstar, "First Home Owner Grant Victoria", August 2026
- Queensland Revenue Office, "First home concession", July 2026
- Queensland Government, "First home owner grant", June 2026
- RevenueSA, "First Home Owner Grant", September 2026
- RevenueSA, "Stamp duty relief for eligible first home buyers", September 2026
- Cotality, "Home Value Index, October 2026" (results as at 30 September 2026), October 2026
General information only. Nothing on this site takes into account your objectives, financial situation or needs, and it is not financial, credit, tax or legal advice. Past performance is not a reliable guide to future performance.