First Home Buyer Grants & Stamp Duty in VIC
A plain-English 2026 guide to Victorian first home buyer help: the stamp duty exemption up to $600,000, the $10,000 First Home Owner Grant, and the 5% deposit First Home Guarantee.
Victorian first home buyers have three main forms of help, and most can use more than one together. Between them they remove a big chunk of your upfront costs and let you buy with a much smaller deposit. The federal rules changed from 1 October 2025, so older guides are out of date. Here is the current 2026 position in plain English.
Stamp duty: full exemption up to $600,000
In Victoria, eligible first home buyers pay no stamp duty on a home valued up to $600,000. Between $600,000 and $750,000 a sliding-scale concession applies, reducing the duty, with the saving tapering to zero as you approach $750,000. Above $750,000 the standard rate applies.
To qualify you need to move in within 12 months and live there as your home. If you are buying off the plan, a separate off-the-plan duty concession has been extended to 20 October 2026, which can reduce the dutiable value further for eligible buyers.
The $10,000 First Home Owner Grant
Victoria offers a $10,000 First Home Owner Grant to eligible first home buyers who buy or build a brand new home. It is not available for established homes. The grant is not means tested. If you are buying an existing property you will not get the grant, but you can still use the stamp duty exemption and the First Home Guarantee below.
The First Home Guarantee: 5% deposit, no LMI
The federal First Home Guarantee lets eligible first home buyers purchase with a 5% deposit and no Lenders Mortgage Insurance. From 1 October 2025 there is no income test and no limit on places.
In Victoria the price cap is $950,000 for Melbourne and Geelong, with a lower cap for the rest of regional Victoria, including Ballarat and Bendigo. The cap is set by postcode, so tell me your suburb and I will confirm the figure that applies to you.
How they stack together
Take a first home buyer purchasing a $580,000 established home in Ballarat. They could use the First Home Guarantee to buy with a 5% deposit and no LMI, and pay zero stamp duty because the price is under $600,000. If they instead bought or built new, the $10,000 grant could come on top. The right combination depends on new versus established, price and location, which is exactly what I work through with you.
What to do next
Before you start inspecting, it pays to know precisely what you qualify for and how much you can borrow. My service is free and runs entirely online. Book a free 20 minute chat and I will confirm your eligibility, your price cap, and get you pre-approved so you can buy with confidence.
Find out exactly what you qualify for
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Book a Free ChatCommon questions
Do first home buyers pay stamp duty in Victoria?
Not on a home up to $600,000, where eligible first home buyers pay nothing. Between $600,000 and $750,000 a sliding-scale concession reduces the duty, and above $750,000 the standard rate applies.
Can I get the $10,000 grant on an existing home?
No. The Victorian First Home Owner Grant only applies to brand new homes. On an established home you can still use the stamp duty exemption and the First Home Guarantee.
What is the First Home Guarantee cap in regional Victoria?
Melbourne and Geelong are capped at $950,000, with a lower cap for the rest of regional Victoria including Ballarat and Bendigo. It is set by postcode, so tell me your suburb and I will confirm.
What is the off-the-plan concession?
It is a temporary stamp duty concession for eligible off-the-plan purchases, extended to apply up to 20 October 2026, which can reduce the dutiable value. I can check whether your purchase qualifies.
Mortgage broker across VIC
Figures and scheme rules reviewed June 2026 and can change. This is general information only and not financial or credit advice. Eligibility and amounts depend on your circumstances and the lender's and government's current criteria. Matty Teague is a Credit Representative (CR 573962) of Flint Group Pty Ltd (ACL 488313).