The Australian property market is one of the most expensive in the world relative to income. The median house price in Sydney exceeds $1.4 million. But federal and state governments have created significant assistance for first-time buyers that changes the calculus.
The 2026 numbers
Federal government schemes for first home buyers
| Scheme | Benefit | Income cap (single/couple) |
|---|---|---|
| First Home Guarantee (FHBG) | Buy with 5% deposit, no LMI | $125k / $200k |
| Regional First Home Buyer Guarantee | 5% deposit in regional areas, no LMI | $125k / $200k |
| Help to Buy (shared equity) | Government buys up to 40% of new home | $90k / $120k |
| First Home Super Saver (FHSS) | Save deposit inside super, taxed at 15% | Up to $50k withdrawable |
State stamp duty concessions
Each state has different first-home buyer stamp duty concessions. In NSW, first home buyers pay no stamp duty on properties up to $800,000 and a reduced rate up to $1,000,000. Victoria, Queensland and WA have similar concession thresholds (varying by state).
The First Home Super Saver Scheme (FHSS) — the underused tool
You can make voluntary concessional contributions into super (taxed at 15% instead of your marginal rate) and later withdraw up to $50,000 for a first home deposit. On a $80,000 income (32.5% marginal rate), this saves 17.5 cents per dollar in tax — making your deposit savings significantly more efficient.
🏠 FHSS Tax Saving Calculator
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