Buying in Australia has never been tougher: national dwelling values jumped 6.2% in the year to May 2025, CoreLogic reports. Yet first‑home buyer (FHB) participation has held near 24% of owner‑occupier approvals, thanks largely to government assistance. Here’s what survives in FY 25/26 and whether it still stacks up.
1. Federal Home Guarantee Scheme (FHBG)
2025/26 allocations confirmed
From 1 July 2025, there are 50,000 places nationally across three guarantees: 35,000 First Home Guarantee, 10,000 Regional First Home Buyer Guarantee, and 5,000 Family Home Guarantee. Participating lenders assess eligibility and apply local price caps. Key 2023 eligibility expansions continue in 2025/26 (e.g., joint applications beyond couples; permanent residents eligible).
Good for: Buyers with solid income but smaller deposits (as little as 5%, no LMI).
Watch‑outs: Price caps can rule out some suburbs; you must be owner‑occupier.
JBF tip: Ask us to run a cap check on the exact postcode(s) you’re targeting and model repayments vs. a conventional 20% deposit path.
2. State stamp duty concessions & grantskey updates for 2025
Queensland
• First home concession (existing homes): For contracts signed on/after 9 Jun 2024, full exemption effectively applies up to $700,000, with tapered concessions to $800,000.
• First home (new home) concession: For eligible transactions on/after 1 May 2025, full transfer duty concession applies to new homes with no purchase‑price cap (residential land only).
• First home vacant land concession: Also full concession from 1 May 2025 (residential vacant land only).
• First Home Owner Grant (FHOG): QRO currently lists $15,000 or $30,000 for eligible new homes (amount depends on criteria and announcements). Check current thresholds when you’re ready to buy.
New South Wales
• First Home Buyer Assistance Scheme: Still full duty exemption to $800k and concessional rates to $1.0m for eligible buyers (existing or new homes).
• Shared Equity Home Buyer Helper: The pilot is closed to new entrants; existing participants continue under program rules.
Victoria
• Homebuyer Fund: Short‑term extension announced 1 Jul 2025 — new applications continue until the remaining allocation is exhausted, with a transition to the federal Help to Buy thereafter.
Western Australia
• Keystart & Shared Equity: Government confirmed additional shared‑equity capacity and product expansions in 2025 to improve access (including low‑deposit pathways). Timing and product criteria may vary during rollout.
JBF tip: Duty concessions and grants change fast. Before signing a contract, ask us to sanity‑check dates, values and eligibility on the exact program page for your state.
3. National Help to Buy (Shared‑Equity), legislated and gearing up
The Help to Buy Act 2024 is in force and Program Directions (June 2025) set out the operating rules. The Government contribution is up to 40% for new homes and 30% for existing homes, with income and price caps and a minimum 2% deposit. Applications are expected to open later in 2025 (staged across states).
Good for: Lower deposit buyers who want smaller mortgages without paying LMI.
Watch‑outs: Government co‑ownership means sharing future gains and ongoing compliance (must remain principal place of residence, limits on renting and additional borrowing). Exiting the scheme requires repaying the equity share.
4. Which option “wins”? A quick decision matrix
Example: Brisbane townhouse at $690,000 (existing home)
Duty in QLD: With the first‑home concession rules now in effect, an eligible buyer at $690k pays $0 duty. Compared with pre‑June 2024 settings, that’s a saving of thousands. Combine with HGS (5% deposit) and you avoid LMI while keeping full home ownership (no equity share).
Alternative: If buying new at the same price, the new‑home concession also eliminates duty; useful when comparing new‑build vs established.
Bottom line
Yes, it still worth it for many buyers, but the best option depends on: (1) property type and location (price caps/duty rules), (2) your deposit size and income, and (3) whether you’re comfortable with shared equity conditions. We’ll map your short‑list postcodes against the current caps and concessions, then model three pathways (Conventional vs HGS vs Help to Buy) so you can see the true after‑5‑years cost and equity outcomes.
Ready to compare pathways? Book a discovery call. We’ll confirm today’s eligibility and run repayment/duty scenarios before you make an offer.
JB Fremy is the founder of JBF Solutions with 20+ years of experience in finance, technology and business operations. All articles are written by JB and reflect practical, experience-based insights.