The NSW Government funds and provides a First Home Buyer Grant of $7000 to all first-home-buyers. In addition, first home buyers in NSW who qualify for the First Home Owner Grant and are buying a newly constructed home or building their first home will be eligible for an additional $3000 payment known as the NSW New Home Buyers Supplement.

A Victorian Government First Home Bonus of $3000 is available for people who buy established homes. Combined with the NSW Government's First Home Owner Grant of $7000 and the Australian Government’s $14,000 First Home Owner Boost, first home buyers of new homes will receive maximum benefits of up to $24,000.

Effective from 1 July 2009 (subject to Federal Government approval) the First Home Owner Grant will be capped and only be available for properties valued up to $750,000.

Stamp Duty Savings

In NSW, the First Home Plus scheme provides exemptions or concessions on transfer duty for people who are buying their first home in NSW. This includes buying vacant land on which you intend to build your first home.

The First Home Plus Scheme provides eligible purchasers with exemptions on transfer duty on homes valued up to $500,000 and concessions on duty for homes valued between $500,000 and $600,000.

Further information about NSW's first-home buyer grants.