First Home Buyers in NSW: Assistance Schemes You Might Be Eligible For

Published August 2026

Buying your first home comes with more government assistance than most people realise; some from the NSW Government, some from Canberra, and in a lot of cases you can combine more than one. Here’s a rundown of what’s currently available, who qualifies, and what it’s worth. Thresholds and settings are reviewed periodically, so treat this as a starting point and confirm your own position with us or the relevant scheme before relying on any figure below.

Transfer Duty Relief: The First Home Buyers Assistance Scheme

The First Home Buyers Assistance Scheme (FHBAS) is the main way first home buyers save money in NSW; a full or partial exemption from transfer duty, which most people still call stamp duty.

For contracts exchanged on or after 1 July 2023: a new or existing home valued up to $800,000 attracts no transfer duty at all. Between $800,000 and $1,000,000, a concessional rate applies on a sliding scale. Buying vacant land to build on? Full exemption up to $350,000, concessional rate up to $450,000.

To qualify, you (and your spouse or partner, if you have one) must never have owned residential property in Australia, must be buying as an individual rather than through a company or trust, and need to move in within 12 months of settlement and live there as your principal place of residence for at least 12 continuous months. At least one applicant must be an Australian citizen or permanent resident.

Who handles it: FHBAS is administered by Revenue NSW, but the application is lodged through your conveyancer or solicitor as part of your settlement paperwork. As your conveyancer, we can confirm your eligibility, work out what you’ll pay, and lodge it on your behalf.

The First Home Owner Grant — an Extra $10,000, New Homes Only

Separately from FHBAS, a $10,000 First Home Owner Grant is available for new homes. That covers a house, townhouse, apartment or similar that’s newly built, bought off the plan, or substantially renovated — established homes don’t qualify.

There’s a price cap: $600,000 for a home that’s already built, or $750,000 combined if you’re buying land and building under a home building contract (including variations). The same 12-month move-in and 12-month residency rules apply as FHBAS — and importantly, the two aren’t mutually exclusive. You can receive the Grant on top of your FHBAS exemption or concession.

Who handles it: the Grant is also administered by Revenue NSW, but the application is lodged through your bank or lender as an approved agent when you arrange finance — not through your conveyancer. If you’ve already settled or finished construction without applying at that point, you can lodge it yourself through the FHOG customer portal.

Only Have a 5% Deposit? The Australian Government 5% Deposit Scheme

Formerly known as the Home Guarantee Scheme, this federal scheme lets eligible first home buyers purchase with as little as a 5% deposit (2% for single parents or legal guardians), with the government guaranteeing the rest so you avoid paying Lenders Mortgage Insurance.

The scheme expanded significantly from 1 October 2025 — income caps and the annual limit on scheme places were both removed, so there’s no waitlist and no income test. A property price cap still applies and depends on location: in Sydney and the designated regional centres (Central Coast, Newcastle and Lake Macquarie, Illawarra, Coffs Harbour–Grafton, Mid North Coast, and Richmond–Tweed) it’s $1,500,000; elsewhere in NSW it’s $800,000. You apply through a participating lender as part of your home loan application, not through us or Revenue NSW.

Who handles it: the scheme is run by Housing Australia, with applications made through a participating lender as part of your loan approval.

Still Short on Deposit? The Australian Government Help to Buy Scheme

Help to Buy is a newer shared equity scheme: you contribute a minimum 2% deposit, and the government contributes up to 30% of the purchase price for an existing home, or up to 40% for a newly built home, in exchange for a proportional equity share. Applications opened on 5 December 2025, with 10,000 places available each year.

There’s an income test — taxable income at or below $103,000 for an individual applicant, or $165,000 for a single parent or joint applicants, for the 2026 financial year — and you’ll need to be an Australian citizen. You can still claim FHBAS or the First Home Owner Grant alongside Help to Buy, since those are state-based concessions rather than Commonwealth loans or guarantees. Like the 5% Deposit Scheme, this one is arranged through a participating lender.

Who handles it: Help to Buy is also run by Housing Australia, with applications made through a participating lender.

Building Your Deposit: First Home Super Saver Scheme

If you’re still saving, the First Home Super Saver Scheme lets you make voluntary contributions into your super — taxed at the concessional super rate rather than your marginal rate — and later withdraw them, plus a notional earnings amount, to put toward your deposit. You can contribute up to $15,000 per financial year, to a lifetime cap of $50,000. One thing worth planning for: you need a determination from the ATO before you sign a contract, so this needs a bit of lead time.

Who handles it: the ATO. You request your determination through ATO online services via myGov, and arrange contributions with your super fund — no lender or conveyancer involved here.

What This Means for Your Purchase

Combining more than one of these is common — most often FHBAS with either the First Home Owner Grant or the 5% Deposit Scheme. Working out which combination applies to you is something we’re happy to talk through as part of your matter. FHBAS, in particular, is lodged through your conveyancer alongside your other settlement paperwork, so it’s worth raising your eligibility with us early, ideally before you exchange contracts. The Grant and the federal schemes are arranged through your lender or, for the Super Saver Scheme, the ATO directly — but we can still help you work out where you stand before you get there.

Not sure what you’d qualify for? Get in touch before you sign anything — we’re happy to talk it through.

ConveyAbility — 100 Queenscliff Road, Queenscliff NSW 2096