South Australia first home owners grant and other schemes

Thinking about buying your first home in the festival state? South Australian homes are the fourth most expensive in the nation with a median home in Metropolitan Adelaide costing $700,000.

Such prices make getting on the property ladder a challenge for first home buyers.

This is especially true amid rising costs of living and interest rates. In January 2023, owner-occupier first home buyer loans fell to a five-year low, according to the ABS.

The South Australian government offers grants and incentives to help first buyers enter the property market sooner. Here’s everything you need to know about South Australia’s first home grants and concessions.

To summarise, South Australia first home owner grants and concessions include the following:

  • A $15,000 South Australia First Home Owners Grant (FHOG) for eligible buyers
  • No stamp duty on first homes valued under $650,000
  • Concessional stamp duty rates on first homes valued $650,000-700,000
  • Different loan options through state-owned lender HomeStart Finance
  • Federal schemes including First Home Super Saver and First Home Guarantee

Buying your first home? Contact a UNO broker today.


South Australia First Home Owners Grant (FHOG)

In South Australia (SA), eligible first home buyers can receive a once-off $15,000 First Home Owners Grant when buying or building a new home valued under $650,000.

To be eligible for a FHOG in South Australia, recipients must meet the following criteria:

  • Be an Australian citizen (OR New Zealand permanently residing in Australia) aged 18 and above
  • Applicants have not received a first home owner grant before
  • Reside in the home as your principal place of residence for 6 months within 12 months of settlement
  • Not have owned a property in Australia before
  • Purchase a new or substantially renovated home


The market value of your property cannot exceed $575,000 where the contract was entered into between 2010 and 14 June 2023. For contracts entered 15 June 2023 onwards, the value is up to $650,000.

The grant can apply to vacant blocks of land provided a home will be built on there and the combined value does not exceed the above thresholds.

There are no further rules on how to spend SA FHOG so some buyers choose to use it towards their deposit.

A UNO broker can help determine your eligibility for FHOG and guide you through the application process.

South Australian First Home Owner Grant is a scheme co-funded by the state and federal governments aimed at helping promote homeownership for first-time buyers.

South Australia stamp duty exemptions and relief

Announced in the 2023-24 state budget, eligible first home buyers enjoy no stamp duty on new homes valued under $650,000 and concessional rates on homes valued up to $700,000.

Eligible buyers of vacant land pay zero stamp duty on land valued below $400,000 or reduced stamp duty on land worth $400-450,000.

Concessional stamp duty relief rates. Source: Revenue SA.

Property ValueStamp DutyStamp Duty ReliefPayable$660,000$30,130$24,104$6,026$670,000$30,680$18,408$12,272$680,000$31,230$12,492$18,738$690,000$31,780$6,356$25,424$700,000$32,330$0$32,330

Contracts need to be entered into after 15 June 2023 and eligibility depends on the above FHOG criteria.

Stamp duty is a state government tax on certain transactions and documents such as housing and vehicles.

Low deposit loans through HomeStart Finance

HomeStart is a State Government lender focused on providing home loans for South Australians, including flexible home loans for first home buyers.

They offer a range of loan options including low (2-5%) deposit loans, loans for graduates with a Certificate III or higher and shared equity options.

UNO has access to HomeStart Finance. A UNO broker can help navigate your options with this lender plus over 20 others.


$10,000 Starter Loans for eligible first home buyers

South Australian first home buyers who earn less than $75,000 as individuals (or $100,000 for couples) can access a $10,000 interest-free starter loan through HomeStart.

South Australia first home owners grant
Source: HomeStart Finance

The Start Loan is interest-free for seven years with no repayments needed during this period.

It is a secondary loan atop of your HomeStart home loan to help with the upfront costs of home ownership including construction costs.

If the loan isn’t paid off within seven years, the balance will be reviewed and possibly transferred onto your primary loan balance.

Introduced in the 2019 South Australian State Budget, the Start Loan is supported by the Affordable Housing Fund.

You can read more about the Starter Loan here.


Low deposit home loans for SA first home buyers

Saving a large deposit can be a huge challenge for South Australian first buyers. While a deposit of 20% is preferable to avoid lender’s mortgage insurance (LMI), some lenders accept lower deposits.

A low deposit might help you get into your first home sooner. In South Australia, there are many options for low deposit home loans including the following:

A UNO broker can compare from over 20 lenders to find a loan structure suitable for your needs.

Read more: How much deposit do I need?


Buying your first home in Adelaide: a step-by-step guide

  1. Calculate how much you can borrow - UNO’s Borrowing Power Calculator will estimate how much you can borrow, giving you a budget for your property.
  2. Find finance - A UNO broker can find you the best deal by comparing rates from over 20 lenders
  3. Secure pre-approval - Submit documents including payslips and bank statements for pre-approval
  4. Find the right property - Once you have a budget, start looking for your property. Take advantage of UNO’s partnership with Abodable offering customers up to $51,000 cash back when purchasing a new home*.
  5. Make an offer on your property and settle within 45 days.

Federal first home buyer schemes

*T&Cs apply. See https://abodable.unohomeloans.com.au/ for full details.Disclaimer: Information in this article is general in nature and does not constitute personal financial advice. You should always seek independent professional advice that considers your personal needs before making financial decisions.SourcesImage: Gilly Tanabose - https://unsplash.com/@glt23https://www.homestart.com.au/abouthttps://www.revenuesa.sa.gov.au/taxpayer-stories/first-home-buyerhttps://www.revenuesa.sa.gov.au/first-home-owners-granthttps://www.revenuesa.sa.gov.au/stampduty/first-home-buyer-reliefhttps://www.valuergeneral.sa.gov.au/News-and-Publications/publisheddataandstatistics




Book Call Now

Book Call Now

UNO home loans

Need help with your home loan?

UNO Brokers are available night and day for a quick review or your situation and bring expertise that will support better decision making that will save you time and money. Book in a quick call when it suits your busy schedule

Get Started

Related Articles

TESTIMONIALS

What our customers are saying

Marlon Baena
July 22, 2024
Karis dedication to assisting with our home loan, even while I was on holidays, truly exemplifies a commitment to excellent service. It's the small things that often make a big difference, and it seems Karis attention to detail and clear communication were key to our smooth home purchase. I highly recommend using UNO and Karis for your home loan needs.
Read more
Olivia Gill
July 18, 2024
We recently used UNO Home Loans to assist us with securing our new mortgage in AU (had moved here from NZ). We had Michael Parsons as our mortgage broker and he was extremely responsive and helpful the whole way through the process. Was a great experience and definitely recommend :)
Read more
Yash Karma
July 18, 2024
Andrew Wyers and team have been amazing. Andrew is very knowledgeable, offers practical advice and he has been pivotal in helping me secure a mortgage at a very competitive interest rate. He was highly responsive to my queries and,being a new immigrant to Perth, he was very patient with my many many questions. An added benefit for me was his knowledge of how superannuation here works. A hec of a great guy to work with, reliable and he goes above and beyond. I would recommend highly recommended him, especially for new immigrants. In fact, I will be using him again very soon!
Read more
Rosie Deiath
July 2, 2024
Karis from UNO was so supportive throughout the entire process of buying our first home. She was contactable at any time, and answered all our silly questions for us. We couldn't recommend Karis and her team enough, as it always felt like she was in our corner with our best interests at heart.
Read more
Jack Mikkelsen
July 2, 2024
We dealt with Karis Churchill as the mortgage broker for our first home. Karis was so supportive and knowledgeable through the whole process! A+ mortgage broker. Definitely utilise her expertise if you’re buying a house!
Read more
Kapil Baldota
June 25, 2024
Eren Tan is absolutely one of the best mortgage brokers in Melbourne! Keeping us well informed throughout the process. Eren gave us a helpful hand in managing to get our loan over the line in a quick and efficient way which is what we wanted and he delivered on that. Thank you Eren Tan!
Read more
A M
June 21, 2024
I only have praise from my Uno experience! I was a broker sceptic, having done all of the hard work myself for my first two property purchases and sale. I'm now a proud broker advocate having used UNO (Karis Churchill) for two refinances and purchase. The value add Karis brought cannot be underrated! Not only has Karis got me the best rate, with a bonus cash back (nearly unheard of in this climate), she has done it with the least back-a-forth and with the least administrative burden on me (the thing that can deters people from refinancing to begin with). Karis is always on top of everything. Karis knows her stuff. She is the most responsive of any professional service provider I've ever used (my banker never text with an update at 7pm on a Sunday) without being overbearing. You know she's got your back and in my experience the value speaks for itself. Thank you to the whole UNO team, thank you especially to Karis.
Read more
Leanda Cawdry
June 8, 2024
Very pleased with the outcome of this process, Michael Parsons and his team at UNO were helpful, communicative, and took all the stress out of the process of finding me a refinance deal that met my needs. Would definitely recommend Michael and UNO, and I already have!
Read more
Glen Matthews
May 29, 2024
Regarding UNO Home Loan services. I had great experience with uno home loans, Michael parsons was my broker for UNO Home Loans we had excellent communication throughout the whole home loan application. If I had any questions on home loan application which were many were answered in great detail. He had the time to assist me in filling out endless application forms at anytime through the day or night which made the application process stress free. So I would strongly recommend Michael parsons from UNO Home Loans to try his services you will not be disappointed. Thanks to Michael parsons I have the lowest home loan interest rate I could ever hope for which I particularly ask for. It’s was a pleasure working with him. And will be using his services in the near future.
Read more
Gillian Anderson
May 28, 2024
Thank you to Michael and UNO for their help in securing our home loan. I like the way they break everything down in simple terms to ensure that you can make the right decision. Michael was polite and very patient to help us get things across the line. We are now sitting in our first home away from rental circus. Can't recommend them enough. Thanks Michael and thanks UNO
Read more
Andy Song
May 17, 2024
Amy has been absolutely wonderful as a broker. I would not hesitate one bit in recommending her services.
Read more
Troy H
May 13, 2024
Scott Wilkinson did a great job as my broker. He was very patient and always happy to answer my numerous questions throughout the considerable period of time that it took to secure a suitable property. Would certainly recommend Scott and the team at UNO for anyone seeking a broker.
Read more