VIC first home buyer grants in 2026: what you can actually get
A $10,000 grant, no stamp duty up to $600,000, and a 5% deposit, each with its own eligibility rules. Here is what each one requires, and the kind of purchase that can meet all three.
What help can a Victorian first home buyer get in 2026?
An eligible Victorian first home buyer purchasing a new home in 2026 may be able to combine three benefits: the $10,000 First Home Owner Grant for a new home valued at $750,000 or less, a full stamp duty exemption on a dutiable value up to $600,000 (with a concession up to $750,000), and the federal 5% Deposit Scheme, which lets eligible buyers purchase with a 5% deposit under a $950,000 cap in Melbourne and Geelong. Price alone never makes you eligible: each benefit has its own criteria.
Each benefit has its own administrator and its own rules. The stamp duty exemption is the one Victorian buyers most often underestimate, because when you buy vacant land and sign a separate building contract, duty is assessed on the land, not the finished home.
The three benefits at a glance
| Benefit | What it is worth | Key condition | Administered by |
|---|---|---|---|
| First Home Owner Grant | $10,000 | Eligible buyer; new home valued at $750,000 or less; live in it for 12 months, starting within 12 months | State Revenue Office |
| First home buyer duty exemption or concession | No duty to $600,000 | Eligible buyer; concession from $600,001 to $750,000; new or established homes | State Revenue Office |
| Australian Government 5% Deposit Scheme | 5% deposit | Eligible buyer and participating lender approval; price and lender valuation at or below $950,000 (Melbourne, Geelong) or $650,000 (rest of state) | Housing Australia, via participating lenders |
Figures verified against the State Revenue Office Victoria and firsthomebuyers.gov.au on 20 October 2026; the grant, duty thresholds, grant payment timing, 5% Deposit Scheme caps and Help to Buy income limits were rechecked on 27 October 2026. Each benefit also has personal eligibility criteria, so a price under a cap does not on its own make you eligible. Government criteria change; check the official pages linked at the end of this guide before you rely on any figure here.
How much is the First Home Owner Grant in Victoria?
The Victorian First Home Owner Grant is $10,000 for an eligible buyer of a new home. There is no longer a separate, higher amount for regional Victoria; the $20,000 regional grant ended for contracts after 30 June 2021.
The home must be new: not previously sold, occupied as a home, leased out or used for short-term accommodation. A substantially renovated home, or a new home built after demolishing an old one, also counts. Its value must be $750,000 or less, and at least one applicant must live in it as their main residence for 12 months, starting within 12 months of settlement or of construction finishing.
One recent change: for settlements from 26 November 2025, New Zealand citizens can apply whether or not they hold a special category visa.
When the grant is paid depends on how you apply, so it may not be there in time to help with your deposit. See when the grant is paid.
Do first home buyers pay stamp duty in Victoria?
Not if you are eligible and the dutiable value is $600,000 or less. Eligible first home buyers pay no land transfer duty on a dutiable value of $600,000 or less. Between $600,001 and $750,000 duty is reduced on a sliding scale, and above $750,000 the concession no longer applies. The State Revenue Office calculator gives the exact figure for any price.
Unlike the grant, the exemption covers established homes as well as new ones. You must move in within 12 months of settlement and live there for 12 continuous months. If you buy vacant land to build on, the deadline is the earlier of 12 months after the occupancy certificate or 36 months after settlement.
Completed new home, or land plus a build?
A completed new home on one contract is assessed on the dutiable value of the home and land together. A completed home at $620,000 falls in the $600,001 to $750,000 concession band, not the full exemption.
Vacant land with a separate building contract is assessed on the land: for an eligible buyer, the dutiable value of the vacant land does not include the value of the building contract. A $300,000 block with a $320,000 build is assessed on the $300,000, inside the exemption. Other criteria still apply, so check the State Revenue Office page before you count on it. The house and land package guide compares this across states.
What is the 5% Deposit Scheme price cap in Victoria?
The Australian Government 5% Deposit Scheme, formerly the First Home Guarantee, lets eligible first home buyers purchase with a minimum 5% deposit, or 2% for eligible single parents and legal guardians, without paying lenders mortgage insurance. Since 1 October 2025 it has had no income cap and no limit on places. It is a government guarantee on part of the loan, not a grant and not a loan approval: a participating lender still assesses your application.
| Area | Price cap |
|---|---|
| Melbourne and Geelong | $950,000 |
| Rest of Victoria | $650,000 |
Both the purchase price and the lender-assessed value must be at or below the cap. For land plus a build, the combined cost must be under the cap. Caps run by postcode; use the Housing Australia postcode tool for a specific address.
What happened to the Victorian Homebuyer Fund?
It closed to new applications on 10 September 2025. The shared equity option for Victorian buyers is now the federal Help to Buy scheme, which opened in December 2025: the government can take up to a 40% share of a new home, with a 2% minimum deposit, for individuals with a taxable income up to $103,000, or joint applicants and single parents up to $165,000, as shown on the notice of assessment for the previous financial year (2025–26).
Can you combine all three?
Yes, if you meet each programme's criteria. The grant and the duty exemption are State Revenue Office programmes; the deposit scheme is federal and reaches you through a participating lender. Each is assessed separately, so qualifying for one does not mean you qualify for the others.
To meet the price tests for all three, a new home has to be within both the grant's $750,000 new-home cap and the 5% Deposit Scheme cap for its postcode, with a dutiable value of $600,000 or less for no duty. In Melbourne and Geelong, where the scheme's cap is $950,000, the grant cap is the tighter limit. In the rest of Victoria the scheme's cap is $650,000, so that is the tighter limit. You still need to meet each programme's other criteria.
A $620,000 house and land package in Melbourne, in numbers
Vacant land at $300,000 on one contract, and a $320,000 build on a separate building contract.
- Deposit of $31,000. Five per cent of $620,000 under the 5% Deposit Scheme, if you are eligible and a participating lender approves the loan, against a Melbourne cap of $950,000.
- $10,000 First Home Owner Grant, if you are eligible. A new home under the $750,000 threshold. It may not be paid in time to help with the deposit.
- No stamp duty, if you are eligible. The dutiable value of the vacant land excludes the building contract, so it is assessed on the $300,000 block, inside the $600,000 exemption.
Illustrative only. Your eligibility for each programme, your borrowing capacity (assessed by a licensed finance provider), the lender's valuation and the other costs of buying all determine what is actually possible. The free 5-minute call is a first conversation about your options — see how our first home buyer pathway works.
When is the Victorian grant paid?
It depends on how and when you apply. If you need the grant at settlement, or for the first progress payment on a build, you apply through an approved agent. Otherwise you apply directly to the State Revenue Office after the transaction is complete, and the grant is paid after that.
Plan your deposit without it. Ask your lender how and when the grant will be paid before you sign anything. Official detail: State Revenue Office — Apply for the First Home Owner Grant.
To plan the money you need before the grant is paid, read can you use the First Home Owner Grant as a deposit?
What else to budget for besides the deposit
- Stamp duty above the exemption. If the dutiable value is over $600,000, or you are not eligible, duty is payable. The State Revenue Office calculator gives the figure.
- Legal and conveyancing fees, including independent advice on the contract before you sign.
- Loan and registration costs: lender fees, and the fees to register the transfer and the mortgage.
- Inspections and insurance: a building and pest inspection for a completed home, and home insurance.
- The costs of owning: council rates, water charges, insurance and maintenance, and owners corporation fees for some homes.
- On a build: site costs, connections and outdoor items not in the base price, rent while you wait, and a contingency. The house and land inclusions checklist covers these.
The first home buyer checklist sets out what to check, and in what order.
For each cost in more detail, with a worksheet to fill in from your quotes, read upfront costs of buying your first home in VIC and Queensland.
Talk through which of the three may apply to you
Five minutes, no documents, no credit check. We talk through your options and what to check next. Eligibility is decided by the State Revenue Office and Housing Australia's participating lenders, and borrowing is assessed by a licensed finance provider.
Prefer to talk now? Call 0418 252 432.
Questions people ask about Victorian first home benefits
How much is the First Home Owner Grant in Victoria in 2026?
The Victorian First Home Owner Grant is $10,000 for an eligible buyer of a new home valued at $750,000 or less. A new home is one that has not previously been sold, occupied as a home, leased out or used for short-term accommodation. At least one applicant must live in the home as their main residence for 12 months, starting within 12 months of settlement or of construction finishing.
When is the Victorian First Home Owner Grant paid?
It depends on how you apply. If you need the grant at settlement or for the first progress payment on a build, you apply through an approved agent. Otherwise you apply directly to the State Revenue Office after the transaction is complete. Check the timing with your lender before relying on the grant for any part of your deposit.
Do first home buyers pay stamp duty in Victoria?
Not if they are eligible and the dutiable value is $600,000 or less. Eligible first home buyers pay no land transfer duty up to $600,000, and a concession applies between $600,001 and $750,000. Above $750,000 there is no first home buyer concession. Unlike the grant, the exemption can apply to new and established homes, and other eligibility criteria apply.
How is stamp duty worked out on a house and land package in Victoria?
If you buy vacant land and sign a separate building contract, the dutiable value of the vacant land does not include the building contract, so duty is assessed on the land. For an eligible buyer that often brings the dutiable value under the $600,000 exemption threshold. A completed new home bought on one contract is assessed on the home and land together. Check your figures with the State Revenue Office duty calculator.
What is the 5% Deposit Scheme price cap in Victoria?
$950,000 for Melbourne and Geelong, and $650,000 for the rest of Victoria. Both the purchase price and the lender-assessed value must be at or below the cap, and for land plus a build the combined cost must be under the cap. Since 1 October 2025 the scheme has no income cap and no limit on places.
Can you combine the $10,000 grant, the stamp duty exemption and the 5% Deposit Scheme in Victoria?
Yes, if you meet each programme's criteria. The grant and the duty exemption are administered by the State Revenue Office and the 5% Deposit Scheme by Housing Australia through participating lenders, and each is assessed on its own criteria. To meet the price tests for all three, a new home or house and land package must be within both the grant's $750,000 cap and the 5% Deposit Scheme cap for its postcode ($950,000 in Melbourne and Geelong, $650,000 in the rest of Victoria), with a dutiable value of $600,000 or less for no duty. Price alone does not make you eligible.
Is the Victorian Homebuyer Fund still open?
No. The Victorian Homebuyer Fund closed to new applications on 10 September 2025. Existing agreements continue. The federal Help to Buy shared equity scheme, which opened in December 2025, is now the shared equity option for Victorian buyers.
How much deposit do I need for a $620,000 house and land package in Melbourne?
If you are eligible for the 5% Deposit Scheme and a participating lender approves the loan, the minimum deposit on $620,000 is $31,000, under the $950,000 Melbourne cap. The package is under $750,000, so an eligible buyer may also get the $10,000 First Home Owner Grant, and if the vacant land on a separate land contract has a dutiable value of $600,000 or less, an eligible buyer pays no stamp duty on it. Your borrowing capacity, lender criteria and other costs still determine what is possible for you.
Official sources
Every figure in this guide comes from the administering body. If you check one thing before acting, check these.
- State Revenue Office Victoria — Understanding the First Home Owner Grant (checked 27 October 2026)
- State Revenue Office Victoria — Apply for the First Home Owner Grant, including payment timing (checked 27 October 2026)
- State Revenue Office Victoria — First home buyer duty exemption or concession, including the duty calculator (checked 27 October 2026)
- Housing Australia — Australian Government 5% Deposit Scheme (checked 27 October 2026)
- Housing Australia — 5% Deposit Scheme property price caps, including the postcode search tool (checked 27 October 2026)
- Housing Australia — Help to Buy scheme (income limits checked 27 October 2026)
Where to go from here
- First home buyer checklist — the steps in order, and who assesses your borrowing (My Finance People or your chosen lender).
- Queensland first home buyer grants 2026 — if you are weighing up Queensland. Buying in the west? See WA first home buyer grants 2026.
- House and land packages for first home buyers — the grant, stamp duty and 5% deposit on a new build, compared across QLD, VIC and WA.
- Talk to the team — Queensland, Victoria and Western Australia, on 0418 252 432.
This guide is general information, not financial, credit, legal or taxation advice, and it does not consider your objectives, financial situation or needs. Eligibility for grants, schemes and finance varies by state, lender and individual circumstances and is subject to current government criteria.