For generations of Australians, homeownership has been both important and attainable. As property prices rise and wages stagnate, getting together the cash for a 20% home loan deposit and the interest rates and associated fees have become increasingly more difficult for everyday Aussies.
Many people are stuck in rent cycles, spending the equivalent of a mortgage payment on monthly rent but unable to save the large lump sum required to purchase a first home.
Luckily, there are new options for first-home buying which can offer relief from daunting upfront costs. Here’s everything you need to know about stamp duty for first-home buyers.
What is stamp duty?
In Australia, you must pay stamp duty when buying a home. It is a one-time upfront government transfer duty charged when a property or land changes hands.
Stamp duty must be considered when calculating your home-buying budget. It can be around 4%-5% of the value of the property - a considerable sum that often reaches the tens of thousands.
The specific amount of stamp duty you owe on a property is dictated by the duty rates in the state in which you’re buying. These rates are usually tiered, so, generally speaking, the higher the purchase price, the more you will pay in stamp duty.
Head to the OwnHome stamp duty calculator to learn how much you could be paying.
Can first-home buyers get a reduction in stamp duty costs?
Most states offer stamp duty exemptions and concessions, especially for eligible first-home buyers. So, when calculating how much you will need to set aside for your first home - deposit, stamp duty, council fees, mortgage application, registration fees and ongoing home loan repayments etc. - it’s important to know which exemptions and concessions are available.
Can I buy a home in Australia as a migrant?
Which stamp duty concessions are available in each Australian state or territory?
To help first-time buyers get their feet on the property ladder, most state governments have introduced first-home buyer grants (FHOG) and significant fee concessions - even complete stamp duty exemptions -for those purchasing their first home. Keep in mind, each program has specific eligibility criteria, such as property market value, buyer residency status (Australian citizen, permanent resident, etc.) and that the home will be a residential property - not an investment.
Check out the list below to see which state stamp duty programs you might qualify for:
● New South Wales
The NSW government’s First Home Buyer Assistance Scheme offers first-time home buyers an exemption from transfer duty for purchases of new and existing homes up to $800,000 and a concessional rate of duty for homes up to $1,000,000.
If you want to purchase land on which you intend to build a home, you may receive an exemption for land valued up to $350,000 and a concessional rate for land valued over $350,000 and less than $450,000.
If you’re a first-time buyer hoping to purchase property in Sydney or elsewhere in NSW, check out the OwnHome NSW stamp duty calculator.
In May 2023, First Home Buyer Choice was repealed, and replaced with expanded stamp duty concessions. Contracts exchanged on or after 1 July 2023 are not eligible for First Home Buyer Choice.
Buyers who have already opted into the scheme will be grandfathered in, and may continue to pay land tax instead of stamp duty on their purchased property.
The NSW First Home Buyer Choice scheme gave you the option to choose between paying stamp duty and an annual property tax (also called land tax). It was introduced for first home buyers in NSW who are purchasing properties under $1.5 million.
The eligibility requirements were as follows:
- You must be a first home buyer - i.e. you must never have been on title before. If you are buying with a partner, both of you must be first home buyers.
- Buying a home valued at less than $1,500,000, or vacant land (for the purposes of building a home) worth $800,000
- You, or your partner, must be an Australian citizen or permanent resident
- You must be over 18
- You must have not previously received a first home buyer grant or duty concessions
- You must move into the home within 12 months of buying
- You must live in the property for at least 6 months
To calculate your property tax, you can use the NSW Government's property tax tool.
● Victoria
If you’re a Victorian first-time buyer, the VIC government offers a stamp duty exemption on new or existing properties valued up to $600,000, as well as a concession on homes worth up to $750,000.
If you’re a first-time homebuyer looking in Melbourne or elsewhere in VIC, check out the OwnHome VIC stamp duty calculator.
● Queensland
First home buyers in Queensland pay no transfer duty on a new home or vacant land to build one (contracts from 1 May 2025, no value cap), and can get a concession on established homes through the first home concession. Value limits apply and change from time to time, so check the Queensland Revenue Office for the current thresholds.
Concessions are also available when buying vacant land to build your first home.
Foreign buyers in Queensland pay an additional foreign acquirer duty on top of stamp duty. Queensland also offers general stamp duty concessions, so if you have your heart set on a property above the first home thresholds, you could still save on stamp duty.
● Western Australia
Those looking to get their foot in the door of the WA property market can expect to skip WA stamp duty on homes - new or existing - and vacant land below a set value, with a concessional rate above that up to a cap. The thresholds change from time to time, so check RevenueWA for the current amounts.
● South Australia
The South Australian gov offers stamp duty concessions for first-time home buyers on new builds with zero price caps. SA also has a $15,000 SA first-time buyer grant available for those purchasing a new-build house or apartment.
● ACT
For buyers looking to settle in Australia’s capital territory, the ACT Home Buyer Concession Scheme gives a full stamp duty exemption from 1 July 2026, with no income test and no property value cap. You and your partner must not have held a property interest in the previous 5 years, and you must live in the home for at least 1 year. It is not limited to first home buyers.
● Northern Territory
Currently, the Northern Territory government does not offer stamp duty concessions or exemptions for first-time home buyers. That said, those looking to buy in NT are not forgotten. If you’re building or buying a new home, you can apply for the Northern Territory’s $50,000 HomeGrown Territory Grant, which could go a long way towards offsetting those upfront fees. Contracts must be signed by 30 September 2027.
● Tasmania
Tasmanian first home buyers have had no stamp duty exemption since 30 June 2026. But, the TAS state government does offer a $20,000 First Home Owner Grant on new homes, for transactions from 1 July 2026 to 30 June 2027.
Interested in getting started on the road to homeownership? Check out our Buying Power Calculator to get an idea of the maximum you could spend on a property.
