First Home Buyer Guide NSW: Grants, Stamp Duty & Schemes (2026)

Verify with Revenue NSW before you rely on this

Grant amounts, thresholds, and eligibility rules change. Always verify current details with Revenue NSW or a licensed conveyancer before signing a contract.

First Home Owner Grant NSW

NSW offers a $10,000 First Home Owner Grant for eligible first home buyers purchasing or building a new home. The grant is funded by the NSW Government and administered by Revenue NSW.

$10,000

The NSW First Home Owner Grant for new homes up to $750,000.

Established homes do not qualify

Eligibility requirements

At least one applicant must be an Australian citizen or permanent resident
All applicants must be individuals (not companies or trusts)
All applicants must be at least 18 years old at the date of the transaction
None of the applicants can have previously owned residential property in Australia
At least one applicant must occupy the property for at least 12 continuous months within 12 months of settlement

Eligible properties

New homes (never previously occupied or sold), $750,000 or less
Substantially renovated homes, $750,000 or less
Owner-builder new homes that meet the same price cap
Established homes do not qualify for the NSW FHOG

How and when the grant is paid

For purchases, the grant is typically paid at settlement through your lender. For owner-builders, it's paid when an occupancy certificate is issued. Apply through Revenue NSW (online at revenue.nsw.gov.au) or via your lender.

Stamp duty exemption and concession

NSW offers significant stamp duty relief for first home buyers on both new and established properties. Since September 2023, concessions apply to eligible buyers purchasing any home, new or established.

Purchase price	Stamp duty payable
Up to $800,000	$0 (full exemption)
$800,001 to $1,000,000	Concession (scaled, reduced rate)
Over $1,000,000	Full stamp duty applies

On a $750,000 home, an eligible first home buyer in NSW pays $0 in stamp duty. A standard buyer would pay roughly $29,000. Use our Stamp Duty Calculator to estimate your exact saving.

Eligibility for the concession

The property must be your first home in Australia
You must intend to occupy it as your principal place of residence within 12 months
Both new and established homes are eligible (unlike the FHOG, which is new homes only)

First Home Buyer Choice (optional annual property tax)

NSW introduced First Home Buyer Choice in 2023, giving buyers the option to pay an annual property tax instead of upfront stamp duty. It's available for properties up to $1.5M and is calculated as 0.3% of land value for owner-occupiers. The option improves cash flow at settlement but adds an ongoing cost. Get advice on which option suits your specific situation before opting in.

Federal schemes available in NSW

First Home Guarantee (FHBG): 5% deposit, no LMI. Income limits $125K single / $200K couple. Property price cap $900,000 Sydney metro and $750,000 regional NSW.
Regional First Home Buyer Guarantee: Same as FHBG for buyers purchasing in regional NSW. You must have lived in the area for 12+ months continuously prior to purchase.
Family Home Guarantee: 2% deposit for single parents, income limit $125K. Price cap as for FHBG.
Help to Buy (shared equity): Government takes up to 40% equity on new homes / 30% on existing. Income limits $90K single / $120K couple. Check housing.gov.au for current operational status.

Federal schemes are available through participating lenders nationwide, including in NSW. See our national First Home Buyer Guide for full federal scheme details.

NSW-specific schemes and resources

Shared Equity Home Buyer Helper (NSW): The NSW Government's own shared equity scheme. Eligible buyers can purchase with the state co-investing up to 40% (new homes) or 30% (existing). Income caps $90K single / $120K couple. Available for key workers, single parents, and older singles (50+) in certain circumstances. Check eligibility at Service NSW.
Revenue NSW First Home Buyer Assistance Scheme: Single place to apply for the stamp duty exemption/concession and FHOG at revenue.nsw.gov.au.

Median property prices for first home buyers

Sydney remains one of the most expensive markets in Australia. First home buyers typically target:

Units in middle-ring suburbs: Median around $700,000 to $900,000 (Western Suburbs, Inner West, Northern Beaches units)
Houses in outer suburbs: Western Sydney suburbs like Campbelltown, Penrith and Blacktown, medians from $750,000 to $950,000
Regional NSW: Newcastle, Wollongong and the Central Coast, unit medians from $500,000 to $700,000

Use our suburb profiles to research current median prices, rental yields, and market trends in any NSW suburb.

The NSW buying process

NSW has some unique features in its conveyancing process:

Cooling-off period: 5 business days from exchange (auctions have no cooling-off period)
Contract of sale: The vendor prepares a contract before listing, which you can review prior to making an offer
Strata reports: For apartments, your solicitor should review the strata report and financial statements before exchange
Settlement: Typically 6 weeks after exchange but negotiable; conducted electronically via PEXA

For the full step-by-step process, see Buying Property in Australia.

Key NSW contacts

Revenue NSW, FHOG, stamp duty concessions, First Home Buyer Assistance Scheme: revenue.nsw.gov.au
NSW Fair Trading, contracts, conveyancing, consumer rights: fairtrading.nsw.gov.au
Housing Australia, First Home Guarantee and federal schemes: housingaustralia.gov.au

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Common questions

Can I get the NSW First Home Owner Grant on an established home?

No. The $10,000 NSW FHOG only applies to new homes (never previously occupied or sold), substantially renovated homes, and owner-builder new homes. Established homes do not qualify for the grant. However, you can still get the NSW stamp duty exemption or concession on an established home if it's under the threshold.

What's the price cap for the NSW FHOG?

$750,000 contract price for the new home. One dollar over the cap and you lose the entire grant. Plan well under to leave room for negotiation.

Is stamp duty really $0 in NSW for first home buyers?

Yes, on any home (new or established) up to $800,000 contract price, an eligible first home buyer in NSW pays no stamp duty. Between $800,001 and $1,000,000 a scaled concession applies. Above $1,000,000 the standard rate kicks in.

Should I take stamp duty upfront or use First Home Buyer Choice?

First Home Buyer Choice lets eligible buyers pay an annual 0.3% land-value property tax instead of stamp duty upfront, on properties up to $1.5M. It improves cash flow at settlement but costs more long-term if you stay 10+ years. Most owner-occupiers planning to hold long-term are better off with the upfront duty (or exemption). Get advice based on your specific numbers.

Can I combine the FHOG with the First Home Guarantee in NSW?

Yes, if you're buying a new home under both price caps. The FHBG covers the deposit/LMI side ($900K Sydney, $750K regional NSW caps); the FHOG is a $10,000 cash grant on top, capped at $750K contract price. Stack them with the stamp duty exemption and you can save $40,000 to $50,000 on a Sydney new build.

What's the cooling-off period in NSW?

5 business days from exchange of contracts on private treaty sales. Auctions have no cooling-off period. If you back out during the cooling-off period you forfeit 0.25% of the purchase price.