NSW first home buyers grant and stamp duty
Last checked
As at Next checkNSW helps first home buyers with a grant for new homes and no or reduced stamp duty (called transfer duty in NSW).
- Grant: $10,000, new homes only
- New home price: up to $600,000 ($750,000 for land plus a build)
- Stamp duty: none up to $800,000, on a new or existing home
- Reduced stamp duty: above $800,000 and below $1 million
The NSW grant now
The First Home Owner (New Homes) Grant is $10,000, for a newly built or substantially renovated home only; established homes do not qualify. If you buy a newly built house, townhouse, apartment or unit, the purchase price must not exceed $600,000. If you buy vacant land and sign a building contract, the combined cost must not exceed $750,000.[1]
For contracts from 1 July 2023, you must move in within 12 months. You must live there as your main home (your "principal place of residence") for 12 continuous months. At least one applicant must be an Australian citizen or permanent resident.[1]
| Item | Detail | Source |
|---|---|---|
| First Home Owner (New Homes) Grant # | $10,000, new homes only | [1] |
| Grant price caps # | Buying a new home: up to $600,000. Land and building contract: up to $750,000 combined | [1] |
| Transfer duty: new or existing home # | No duty up to $800,000; a concessional rate above $800,000 and below $1 million | [2] |
| Transfer duty: vacant land # | No duty up to $350,000; a concessional rate above $350,000 and below $450,000 | [2] |
| Living in the home # | Move in within 12 months and live there 12 continuous months (contracts from 1 July 2023) | [1][2] |
| Who can claim # | At least one buyer must be an Australian citizen or permanent resident | [1][2] |
NSW transfer duty for first home buyers
The First Home Buyers Assistance Scheme covers new and existing homes alike. For contracts from 1 July 2023, a home valued up to $800,000 is exempt from transfer duty. A home above $800,000 and below $1 million pays duty at a concessional (reduced) rate. For vacant land you intend to build on, the exemption runs to $350,000, with a concessional rate below $450,000.[2]
You must move in within 12 months after settlement and live there as your principal place of residence for at least 12 continuous months. A foreign person buying, or buying with a foreign person, may still pay surcharge purchaser duty even when eligible for the scheme.[2]
To estimate the duty on a particular price, use Revenue NSW's official First Home Buyers Assistance calculator.[3] We do not run our own duty calculator: the official one is maintained by the office that sets the rules.
Worked examples at $580,000, $750,000 and $1,400,000
In NSW the grant cap ($600,000) is well below the duty exemption threshold ($800,000), so the price decides which support applies. For first home buyers who meet the rules:
- A new unit at $580,000: the $10,000 grant may apply, because the price is within $600,000, and there is no transfer duty.[1][2]
- A home at $750,000, new or existing: no grant, because $750,000 is over $600,000, but no transfer duty, because it is within $800,000. It is under both federal caps anywhere in NSW, including the $800,000 rest-of-state cap. A 5% deposit is $37,500; Help to Buy's minimum 2% deposit is $15,000.[1][2][4][5]
- A Sydney home at $1,400,000: no grant and no first home duty concession, because the price is above $1 million. It is within the $1,500,000 5% Deposit Scheme cap for Sydney but over the $1,300,000 Help to Buy cap.[2][4][5]
This applies the published rules to stated prices. It is not a prediction of your result: eligibility depends on your circumstances and is decided by Revenue NSW and the lender.
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How NSW support sits beside the 5% Deposit Scheme and Help to Buy
The federal 5% Deposit Scheme and Help to Buy each set a property price cap by location. In New South Wales the higher cap covers Sydney. It also covers these regional centres: Newcastle and Lake Macquarie, Illawarra, Central Coast, Mid-North Coast, Coffs Harbour–Grafton and Richmond–Tweed. The rest of the state has a lower cap.[4][5] Housing Australia says Help to Buy can be used together with state stamp duty concessions and grants.[6]
Unlike Queensland and Victoria, NSW has different federal caps for the capital city. For Sydney and the regional centres, the cap is $1,500,000 for the 5% Deposit Scheme and $1,300,000 for Help to Buy. In the rest of NSW both caps are $800,000, the same figure as the state's $800,000 duty exemption threshold.
Help to Buy in NSW
The Help to Buy price cap in NSW is $1,300,000 for Sydney and the regional centres listed above, and $800,000 elsewhere in the state.[4]
5% Deposit Scheme in NSW
The 5% Deposit Scheme price cap in NSW is $1,500,000 for Sydney and the regional centres listed above, and $800,000 elsewhere in the state. The minimum deposit is 5%, or 2% for eligible single parents.[5]
Caps apply by suburb and postcode; Housing Australia's postcode search confirms the cap for a particular address.[4]
How to apply, and who pays it
The grant is administered by Revenue NSW, not by the lender, though a lender can lodge the application as an approved agent. You can apply through an approved lender or financial institution. Or you can apply directly with Revenue NSW through its online portal. If you apply directly, you must lodge within 12 months of settlement or of the completed construction.[1]
Check before you rely on it. Grant and duty rules are administered by Revenue NSW and change from time to time. General information only. It does not take into account your objectives, financial situation or needs, and it is not a recommendation to enter into any credit contract. Eligibility is decided by the scheme administrator and the lender.
Compare New South Wales with every other state and territory in our first home buyer tracker. Or read how Help to Buy and the 5% Deposit Scheme work.
What changed
- : Current thresholds began: no transfer duty up to $800,000, and a concessional rate below $1 million.[2]
Page history: every figure re-checked against the official pages listed below on .
Buying in NSW?
Zafar works with clients Australia-wide by phone and video call. He can check the New South Wales and federal rules against your situation and how they fit with a loan from his lender panel.
Ask Zafar to check Call 0402 357 860
Sources
- Revenue NSW, First Home Owner (New Homes) Grant. Retrieved .
- Revenue NSW, First Home Buyers Assistance Scheme. Retrieved .
- Revenue NSW, First Home Buyers Assistance calculator. Retrieved .
- Housing Australia (firsthomebuyers.gov.au), Help to Buy property price caps. Retrieved .
- Housing Australia (firsthomebuyers.gov.au), Australian Government 5% Deposit Scheme fact sheet (headed 1 July 2026). Retrieved .
- Housing Australia (firsthomebuyers.gov.au), Help to Buy: frequently asked questions. Retrieved .
Common questions
How much is the first home buyers grant in NSW?
$10,000, for a new home only: a purchase price up to $600,000, or up to $750,000 combined for land and a building contract.
Is the first home owners grant still available in NSW?
As at 14 Oct 2026, yes, for new homes only. Revenue NSW lists a $10,000 grant for a new home priced up to $600,000, or up to $750,000 for land and a building contract. Established homes do not qualify.
Do first home buyers pay stamp duty in NSW?
Not on a new or existing home valued up to $800,000. Above $800,000 and below $1 million, a concessional rate applies. For vacant land, the exemption runs to $350,000.
Can I get the NSW grant on an existing home?
No. The First Home Owner (New Homes) Grant is for newly built or substantially renovated homes only. The transfer duty exemption and concession do cover existing homes.
What if the home costs more than $1 million?
The First Home Buyers Assistance Scheme does not apply at $1 million or more. The 5% Deposit Scheme cap for Sydney and the regional centres is $1,500,000, and the Help to Buy cap is $1,300,000.
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