First home buyer Victoria: guide to FHOG and more

First home buyer Victoria: your guide to FHOG / first home buyers grant, stamp duty concessions/exemptions, and more.

First home buyer concessions in Victoria: everything you need to know

First home buyers in Victoria face a tough market, with a median house price of $760,000 - among the highest in the nation. In Melbourne, which consistently ranks among the most livable cities in the world, the median increases to nearly $1 million.

With these prices, it takes almost 14 years for first home buyers to save a 20% deposit, according to ANZ and CoreLogic research.

State and federal governments offer several concessions to help first home buyers with rising property costs. Here’s everything you need to know about first home buyer concessions in Victoria.

Victoria's first home buyer grants and concessions include the following:

  • A $10,000 First Home Owner Grant when building a new home valued under $750k
  • Stamp duty exemptions for properties valued less than $600k
  • Concessional stamp duty rates on properties valued at $600-750k
  • Access to shared equity and 5% deposits through the Victorian Homebuyers Fund (VHF)
  • Federal schemes, including the Home Guarantee Scheme, Help to Buy, and First Home Super Saver Scheme (FHSSS)

Victoria FHOG (First Home Owner Grant)

In VIC, a $10,000 FHOG is available when you buy or build a new home for the first time. The property’s contract price cannot exceed $750,000. Eligible recipients must meet the below criteria:

  • You and your partner/spouse must not have owned or part-owned a home in Australia before 1 July 2000
  • Be an Australian citizen/permanent resident aged 18 years and above.
  • You (or one applicant) must occupy the home as your Principle Place of Residence (PPR) for at least 12 months within 12 months of settlement/construction.
  • The home must not have been sold or occupied before, including for short-term occupancies like Airbnb.

The Victoria First Home Owner Grant is a scheme co-funded by the Victorian and Federal governments designed to promote homeownership for first-home buyers.

Australian Defence Force (ADF) members—including members of the Australian Army, Air Force, or Navy—are exempt from the occupancy requirements provided they are enrolled to vote in Victoria.

A UNO broker will help determine your eligibility for the FHOG grant.

Victoria Stamp Duty Exemptions or Concessions

Victorian home buyers are eligible for stamp duty (duty) concessions or exemptions provided they bought their home after 1 July 2017.

Properties valued at less than $600,000 are eligible for a first home buyer exemption, while those valued at $600-750,000 qualify for a first home buyer duty concession.

The first home buyer duty concession is a rate based on the value of your property. The more expensive your property, the less discount you will receive.

Victorian First Home Buyer Duty Concession discounts

first home buyer vicoria

To be eligible for an exemption/concession, purchases must meet the same criteria as the FHOG grant. However, the property does not need to be new.

Additionally, there is a duty discount for properties within the City of Melbourne local government area (LGA) valued at up to $1 million. Contracts need to have been entered between 2021-2022.

Estimate your stamp duty with UNO’s stamp duty calculator

Victorian Homebuyer Fund Shared Equity Scheme

The Victorian Homebuyers Fund (VHF) is a shared equity scheme where the Victorian Government contributes to the cost of a property in exchange for a stake in it.

Eligible individuals must have a single or combined income below $208k and $130k, respectively. Assess your eligibility here.

Under the scheme, the government will buy a share of up to 25% in your property provided you have a genuine savings deposit of at least 5%.

No interest is payable on the government’s share, but they will take a percentage of the profits when you sell it. You can pay back the government’s share in the property over time.

Regional First Home Owner Grant / FHOG

The regional FHOG was a $20,000 grant for first home buyers who purchased a property in regional Victori between July 2017 and 2021. It ended in 2021.

A step-by-step guide to buying your first home in Victoria

  1. Estimate your borrowing power - Estimate how much you can with the UNO Borrowing Power Calculator. This will give you a budget for your property.
  2. Find the best deal - A UNO broker can help you compare rates from over 20 lenders to find the best deal.
  3. Seek pre-approval - Submit documents, including payslips, for pre-approval.
  4. Search for a property - Look for the perfect property within your budget. UNO has recently partnered with property platform Abodable to offer 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

Thinking about buying your first home? Talk to a UNO broker today.

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


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
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