First Home Buyer Guide — Victoria (2026)

First Home Owner Grant VIC

Victoria offers the First Home Owner Grant (FHOG) for eligible buyers purchasing new homes. The grant amount depends on whether you are buying in metropolitan Melbourne or regional Victoria:

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

“Regional Victoria” for FHOG purposes is broadly defined as anywhere outside of Melbourne's metropolitan boundary. Cities such as Geelong, Ballarat, Bendigo, Wodonga, and the Latrobe Valley all qualify. The State Revenue Office publishes a 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 + land) of $750,000 or less
• Substantially renovated homes (extensive renovation where original dwelling was removed/replaced)
• Established homes do not qualify

Stamp Duty Exemption & Concession

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

On a $550,000 purchase, a first home buyer in Victoria pays $0 in stamp duty. Without the concession, stamp duty on $550,000 would be approximately $26,070. Use our Stamp Duty Calculator for your exact figures.

Principal Place of Residence (PPR) duty reduction (non-first home buyers)

Note: Victoria also offers a PPR concession for owner-occupiers who are not first home buyers on properties up to $550,000 — this is separate 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 in Melbourne: $800,000. Regional VIC: $650,000.
• Regional First Home Buyer Guarantee: For buyers in regional VIC. Same terms as FHBG. Regional cities like Geelong, Ballarat, and Bendigo are highly popular under this scheme.
• Family Home Guarantee: 2% deposit for single parents. $125K income limit.

VIC-Specific Schemes & Resources

• Homes Victoria shared equity program: Check homes.vic.gov.au for any current co-contribution or affordable housing programs for first home buyers in Victoria. The state has run various shared equity pilots aimed at lower and middle-income first home buyers.
• Victorian Homebuyer Fund: A shared equity scheme where the Victorian Government takes an equity stake in the property (up to 25%), reducing the deposit required to 5% with no LMI. Income caps and property price caps apply. Check current availability and eligibility at homes.vic.gov.au.

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 suburbs (Werribee, Hoppers Crossing), Outer North (Craigieburn, Epping), and South East (Berwick, Cranbourne) with house medians from $580,000–$780,000
• Units & apartments: Melbourne CBD fringe and inner suburbs like Footscray and Sunshine, with unit medians from $400,000–$600,000
• Regional Victoria: Geelong (median houses $700,000–$800,000), Ballarat ($500,000–$600,000), Bendigo ($450,000–$550,000) — all highly affordable compared to 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 statement before a contract is signed. It contains title information, planning overlays, outgoings, and building permits. Review it carefully with your solicitor before signing.
• Cooling-off period: 3 business days from signing the contract of sale (not applicable at auction)
• Auction market: Melbourne is one of Australia's most active auction markets. Do your pre-auction due diligence — building inspections, finance confirmation, and contract review should all be completed before bidding.
• Settlement: Typically 30–60 days; conducted via PEXA

Key VIC Contacts

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