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

Verify with the SRO before you rely on this

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

First Home Owner Grant VIC

Victoria offers the First Home Owner Grant for eligible buyers purchasing new homes. The grant amount depends on whether you're buying in metro Melbourne or regional Victoria.

$20,000

The FHOG for new homes in regional Victoria, double the metro Melbourne grant.

Capped at $750,000 total value

Metro Melbourne: $10,000
Regional Victoria: $20,000, a meaningful boost for buyers targeting regional cities and towns

"Regional Victoria" for FHOG purposes means anywhere outside Melbourne's metropolitan boundary. Cities such as Geelong, Ballarat, Bendigo, Wodonga, and the Latrobe Valley all qualify. The State Revenue Office publishes the official boundary map.

Eligibility requirements

At least one applicant must be an Australian citizen or permanent resident
All applicants must be 18 years or older
None of the applicants can have previously owned residential property in Australia
At least one applicant must occupy the home for 12 continuous months within 12 months of settlement or completion

Eligible properties

New homes (first time sold as residential) with a total value (house plus land) of $750,000 or less
Substantially renovated homes (extensive renovation where the original dwelling was effectively removed/replaced)
Established homes do not qualify

Stamp duty exemption and concession

Victoria provides stamp duty (land transfer duty) relief for eligible first home buyers on both new and established properties.

Purchase price	Duty payable
Up to $600,000	$0 (full exemption)
$600,001 to $750,000	Concession (scaled reduction, not zero but significantly reduced)
Over $750,000	Full transfer duty applies

On a $550,000 purchase, an eligible first home buyer in Victoria pays $0 in stamp duty. Without the concession, stamp duty would be roughly $26,000. Use our Stamp Duty Calculator for your exact figures.

Principal Place of Residence concession (non-first home buyers)

Victoria also offers a PPR concession for owner-occupiers who are not first home buyers, on properties up to $550,000. It's a separate concession from the first home buyer exemption.

Federal schemes available in VIC

First Home Guarantee (FHBG): 5% deposit, no LMI. Income limits $125K single / $200K couple. Property price cap $800,000 Melbourne and $650,000 regional VIC.
Regional First Home Buyer Guarantee: Same as FHBG for buyers purchasing in regional VIC. Geelong, Ballarat, and Bendigo are all popular under this scheme.
Family Home Guarantee: 2% deposit for single parents, income limit $125K.
Help to Buy (shared equity): Up to 40% government equity on new homes / 30% on existing. Income limits $90K single / $120K couple.

See our national First Home Buyer Guide for full federal scheme detail.

VIC-specific schemes and resources

Victorian Homebuyer Fund: Shared equity scheme where the Victorian Government takes an equity stake of up to 25%, reducing the required deposit to 5% with no LMI. Income caps and property price caps apply. Check homes.vic.gov.au for current availability.
Homes Victoria: Check homes.vic.gov.au for any current co-contribution or affordable housing programs for first home buyers.

Median property prices for first home buyers

Melbourne's property market has large price variation by distance from the CBD. First home buyers typically focus on:

Outer Melbourne suburbs: Western (Werribee, Hoppers Crossing), Outer North (Craigieburn, Epping), South East (Berwick, Cranbourne), house medians $580K to $780K
Units and apartments: CBD fringe and inner suburbs like Footscray and Sunshine, unit medians $400K to $600K
Regional Victoria: Geelong (houses $700K to $800K), Ballarat ($500K to $600K), Bendigo ($450K to $550K), all highly affordable versus Melbourne

Browse our suburb profiles for current market data on any Victorian suburb.

The VIC buying process

Victoria has some distinct features:

Section 32 (Vendor's Statement): Vendors must provide a Section 32 before a contract is signed. It contains title, planning overlays, outgoings, and building permits. Review with your solicitor before signing.
Cooling-off period: 3 business days from signing the contract of sale. No cooling-off at auction.
Auction market: Melbourne is one of Australia's most active auction markets. Pre-auction due diligence (building inspections, finance, contract review) needs to be done before bidding.
Settlement: Typically 30 to 60 days, conducted via PEXA.

Key VIC contacts

State Revenue Office VIC (SRO), FHOG and stamp duty concessions: sro.vic.gov.au
Homes Victoria, Victorian Homebuyer Fund and affordable housing: homes.vic.gov.au
Consumer Affairs Victoria, contracts and consumer rights: consumer.vic.gov.au

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Common questions

What counts as 'regional Victoria' for the $20,000 FHOG?

Anywhere outside Melbourne's metropolitan boundary. Geelong, Ballarat, Bendigo, Wodonga, the Latrobe Valley, and the Surf Coast all qualify. The State Revenue Office publishes the official boundary map. Even some outer-Melbourne suburbs sit within the regional zone, so check the map before assuming.

Can I get the VIC FHOG on an established home?

No. The grant only applies to new homes (first time sold as residential), substantially renovated homes (where the original dwelling was effectively replaced), and house-and-land contracts. Established homes do not qualify, though you can still get the stamp duty exemption on them.

What's the price cap for the VIC FHOG?

$750,000 total value (house plus land). One dollar over the cap and you lose the entire grant.

Do I really pay $0 stamp duty in VIC for a first home?

Up to $600,000 purchase price, yes, full exemption. Between $600,001 and $750,000 a scaled concession applies (not zero, but significantly reduced). Above $750,000 the standard rate kicks in.

What is the Victorian Homebuyer Fund?

A state shared-equity scheme. The Victorian Government takes an equity stake of up to 25% in the property, reducing the deposit you need to 5% with no LMI. Income caps and property price caps apply. The government shares in capital gains proportional to its equity. Check homes.vic.gov.au for current availability and rules.

What's the cooling-off period in Victoria?

3 business days from signing the contract of sale on private treaty sales. There is no cooling-off period if you buy at auction. If you back out during the cooling-off period you forfeit 0.2% of the price (or $100, whichever is higher).