Victoria First Home Buyer Assistance
A plain English guide to the grants, concessions and government schemes available to first home buyers in Victoria right now.
1. First Home Buyer Duty Exemption or Concession
Eligible first home buyers may receive an exemption or concession from Victorian land transfer duty, commonly called stamp duty.
New or Established Homes
- No stamp duty where the dutiable value is up to $600,000
- A reduced amount of stamp duty applies where the dutiable value is between $600,001 and $750,000
- Above $750,000, the first home buyer duty exemption or concession does not apply
Vacant Land
- The same first home buyer duty thresholds can apply to eligible vacant land intended for construction of the buyer's first home
- For vacant land, duty is assessed on the value of the land itself rather than including the building contract
Occupancy Requirement
- The buyer must generally occupy the home as their principal place of residence for at least 12 continuous months
- For an existing or completed home, this generally needs to commence within 12 months of settlement
- Different timing rules apply to vacant land where a home is being constructed
2. First Home Owner Grant
Available to eligible first home buyers purchasing or building a new home.
- Grant amount: $10,000
- The property must generally be new and not previously sold or occupied as a home
- The home can be a house, townhouse, apartment or unit
- Substantially renovated homes and eligible replacement homes may also qualify
- The property value must generally be no more than $750,000
- The buyer must occupy the home as their principal place of residence
- Established homes are not eligible
3. Temporary Off-the-Plan Duty Concession
Victoria also has a temporary off-the-plan duty concession that can significantly reduce the dutiable value of certain eligible purchases.
- Applies to eligible off-the-plan apartments and townhouses
- Applies to contracts signed between 21 October 2024 and 20 October 2026
- There is currently no property value cap for this temporary concession
- It reduces the dutiable value by excluding eligible construction costs incurred after the contract date
- It can apply to first home buyers as well as other purchasers
- There is no requirement under this concession itself that the purchaser live in the property
4. First Home Owner with Dependent Child Duty Benefit
Victoria also retains a separate duty exemption or concession for certain first home owners with a dependent child.
- Duty exemption may apply for eligible properties valued at $150,000 or less
- A duty concession may apply for eligible properties valued up to $200,000
- The purchaser must generally have a dependent child and intend to occupy the home as their principal place of residence
In practice, the broader first home buyer duty exemption or concession covering properties up to $750,000 is usually more relevant for most buyers.
Victoria Summary
| Scheme | New Home | Existing Home | Main Benefit |
|---|---|---|---|
| First Home Buyer Duty Exemption / Concession | Yes | Yes | $0 duty up to $600k, concession to $750k |
| First Home Owner Grant | Yes | No | $10,000 grant |
| Temporary Off-the-Plan Duty Concession | Eligible OTP apartments / townhouses | No | Reduces dutiable value |
| Dependent Child Duty Benefit | Potentially | Potentially | Duty relief on low-value properties |
What This Means for You
For most Victorian first home buyers, we check these in order: the stamp duty exemption or concession for purchases up to $750,000, the $10,000 First Home Owner Grant if the home is new and valued up to $750,000, and the off-the-plan concession where the client is purchasing an eligible apartment or townhouse off the plan. Australian Government programs such as the 5% Deposit Scheme, Help to Buy and the First Home Super Saver Scheme are separate and are not included here.
Official Victorian Sources
State Revenue Office Victoria: First Home Owner Grant
https://www.sro.vic.gov.au/buying-property/first-home-owner-grant
State Revenue Office Victoria: First Home Buyer Duty Exemption or Concession
https://www.sro.vic.gov.au/buying-property/land-transfer-stamp-duty/concessions-exemptions-and-waivers/first-home-buyers/first-home-buyer-duty-exemption-or-concession
Information current as at August 2026 and subject to change. Eligibility criteria, thresholds and concessions can change. Confirm current requirements with the Victorian State Revenue Office before relying on these figures for a client application. This is general information only and does not constitute financial advice. Coastal Broking Pty Ltd.