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. Here is what each one requires, and the purchase that qualifies for all three.
What help can a Victorian first home buyer get in 2026?
A Victorian first home buyer purchasing a new home in 2026 can combine three benefits: the $10,000 First Home Owner Grant for new homes valued at $750,000 or less, a full stamp duty exemption on a dutiable value up to $600,000 (with a reduced rate 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.
Each benefit has its own administrator and its own rules. The stamp duty exemption is the one Victorian buyers most often underestimate, because on a house and land package it is usually 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 | New home valued at $750,000 or less; live in it for 12 months | State Revenue Office |
| First home buyer duty exemption or concession | No duty to $600,000 | Sliding-scale concession from $600,001 to $750,000; new or established homes | State Revenue Office |
| Australian Government 5% Deposit Scheme | 5% deposit | 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. 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. 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.
Do first home buyers pay stamp duty in Victoria?
Not up to $600,000. 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.
Why house and land packages often pay no duty
Duty is charged on the land transfer. When a house and land package is bought under separate land and building contracts, the dutiable value is generally the price of the land, not the land plus the build. A $620,000 package with a $300,000 block is usually assessed on the $300,000, comfortably inside the exemption.
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, without paying lenders mortgage insurance. Since 1 October 2025 it has had no income cap and no limit on places.
| 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 single applicants earning up to $103,000 or joint applicants and single parents earning up to $165,000 (2026–27 thresholds).
Can you combine all three?
Yes. 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.
The tightest limit is the grant's $750,000 new-home cap. A new home or house and land package under that figure, with a dutiable value of $600,000 or less, qualifies for all three.
A $620,000 house and land package in Melbourne, in numbers
- Deposit of $31,000. Five per cent of $620,000 under the 5% Deposit Scheme, against a Melbourne cap of $950,000.
- $10,000 First Home Owner Grant. A new home under the $750,000 threshold.
- No stamp duty. With a $300,000 block on a separate land contract, the dutiable value sits well inside the $600,000 exemption.
Illustrative only. Your borrowing capacity, the lender's valuation, your eligibility for each programme and the other costs of buying all determine what is actually possible. Working that out honestly is what the free 5-minute call is for — see how our first home buyer pathway works.
Find out which of the three you qualify for
Five minutes, no documents, no credit check. You get a straight answer either way, and if the timing is not right yet, the specific list of what would change it.
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. It applies only to new homes, meaning homes that have not previously been sold, occupied as a home, leased out or used for short-term accommodation, and the value of the home must be $750,000 or less. 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.
Do first home buyers pay stamp duty in Victoria?
Not up to $600,000. Eligible first home buyers pay no land transfer duty on a dutiable value of $600,000 or less, and a reduced, sliding-scale amount between $600,001 and $750,000. Above $750,000 there is no first home buyer concession. Unlike the grant, the exemption applies to both new and established homes.
How is stamp duty worked out on a house and land package in Victoria?
Duty is charged on the dutiable value of the land transfer. When a house and land package is bought under separate land and building contracts, the dutiable value is generally the price of the land rather than the land plus the build, which often brings a first home buyer well under the $600,000 exemption threshold. 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. 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. A new home or house and land package valued under $750,000, where the dutiable value is $600,000 or less, can qualify for all three.
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?
Under the 5% Deposit Scheme a 5% deposit on $620,000 is $31,000, well under the $950,000 Melbourne cap. The package is under $750,000, so the $10,000 First Home Owner Grant can apply, and if the land component under a separate land contract is $600,000 or less, no stamp duty is payable 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 (page last updated 29 September 2026)
- State Revenue Office Victoria — First home buyer duty exemption or concession (page last updated 15 September 2026), including the duty calculator
- Housing Australia — 5% Deposit Scheme property price caps, including the postcode search tool
- Housing Australia — Help to Buy scheme
Where to go from here
- First home buyer pathways — low- and no-deposit routes, and working out your borrowing capacity with My Finance People.
- QLD first home buyer grants 2026 and WA first home buyer grants 2026 — if you are weighing up another state.
- 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.