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First home buyers · New South Wales

First home buyers in NSW

NSW gives first home buyers a full transfer duty exemption up to a set price and a reduced rate above it, a grant for new homes, and access to the federal deposit schemes. Here is what applies today, worked through at three prices.

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What’s different in NSW

Most NSW first home buyers benefit from one scheme above all: the First Home Buyers Assistance Scheme (FHBAS). It removes transfer duty on a new or existing home up to $800,000 and reduces it on homes up to $1,000,000. At the exemption threshold that is a saving of $30,187. Vacant land to build on has its own, lower thresholds: no duty up to $350,000, reduced duty up to $450,000.

The scheme’s thresholds have applied since 1 July 2023. The general duty brackets they are measured against change every 1 July, so the dollar value of the concession moves a little each year even when the thresholds don’t.

The grant is narrower than many people expect. The First Home Owner (New Homes) Grant is $10,000, only for a new home, and only up to $600,000 (or $750,000 for land plus a building contract). At Sydney prices many new apartments are over the cap, so most Sydney buyers rely on the duty exemption rather than the grant.

Who qualifies

First Home Buyers Assistance Scheme (new or existing home)

  • Individuals aged 18 or over (not a company or trust).
  • You and your spouse or partner have never owned or co-owned residential property in Australia, and never received this exemption or concession.
  • At least one first home buyer must be an Australian citizen or permanent resident.
  • Move in within 12 months after settlement and live there for at least 12 continuous months.
  • Must be the whole property (shared-equity rules apply when buying with ineligible buyers).

First Home Buyers Assistance Scheme (vacant land)

  • Vacant land on which you intend to build your first home.
  • Same buyer requirements as for homes (18+, never owned residential property in Australia, at least one citizen or permanent resident).

First Home Owner (New Homes) Grant

  • New, off-the-plan or substantially renovated homes only. Not available for established homes.
  • Purchase price must not exceed $600,000; building (land + comprehensive building contract) must not exceed $750,000.
  • At least one applicant must be an Australian citizen or permanent resident; each applicant 18 or over.
  • Live in the home within 12 months and for at least 12 continuous months (contracts from 1 July 2023).
  • One grant per transaction; not available to temporary residents.

Citizens, permanent residents and visa holders

Most first home schemes need at least one buyer who is an Australian citizen or permanent resident. Here is how New South Wales treats each group. The visa guides go into detail.

New South Wales: first home schemes by residency
BuyerDuty concessionFirst home grantForeign buyer surcharge
Australian citizenYesYesNo
Permanent residentYesYes, $10,000, new homes9% unless the 200-day test is met
New Zealand citizen (444)YesYes, $10,000, new homes9% unless the 200-day test is met
Temporary visa holderOnly with a citizen or PR co-buyerConfirmYes, 9%
From Revenue NSW’s rules, checked 26 October 2026. “Confirm” means we could not verify it on the official site.

Stamp duty calculator for NSW

Set to a first home buyer who will live in the home. Change the price and property type to see the concession and grant for your purchase.

NSW stamp duty calculator

Or the market value, if that is higher.
What are you buying?
Will you live in it?
First home buyer
Buyers' residency
Foreign persons pay surcharge purchaser duty of 9% on top of transfer duty. This assumes every buyer is in the same group.

Estimated stamp duty

$0

No transfer duty under the First Home Buyers Assistance Scheme (new or existing home), if you meet its conditions.

Transfer dutyGeneral transfer duty rates 2026/2027 (incl. premium residential rate)
$27,937
Less First Home Buyers Assistance Scheme (new or existing home)
−$27,937
Mortgage registration fee
$182.73
Transfer registration fee
$182.73
Total government costs
$365.46
Notes for this purchase (1)
  • First Home Owner (New Homes) Grant: not eligible (established homes are not eligible; price must be at most $600,000).
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A 60-minute consultation with Sulav Adhikari, by phone or video. We check these numbers against real lender policy.

Checked against Revenue NSW on (2026-27 rules)

  • General transfer duty rates 2026/2027 (incl. premium residential rate): page, official calculator · checked
  • First Home Buyers Assistance Scheme (new or existing home): page, official calculator · checked
  • NSW Land Registry Services: registration fees: PDF · checked
  • First Home Owner (New Homes) Grant: page · checked
Assumptions
  • The price you enter is treated as the dutiable value (the higher of the price and the market value).
  • Every buyer is in the same residency group and buys the whole property. Mixed purchases (for example one foreign co-buyer) are worked out differently; use the revenue office calculator.
  • Concessions and grants assume you meet all their conditions, including living in the home for the required time.
  • Government fees are the land titles office registration fees for one transfer and one mortgage. Conveyancing, inspections and lender fees are not included.
  • Your conveyancer or solicitor confirms the duty payable before settlement.

Estimates only, not a quote or credit approval. Important information about our calculators.

More options, including investors and foreign buyers: NSW stamp duty calculator.

Worked examples at three prices

First home buyer costs in New South Wales
ItemUnit (established)Townhouse (established)House (established)
Price$650,000$900,000$1,200,000
Duty before concession$23,437$34,687$48,187
First home concession−$23,437−$15,094None
Duty payable$0$19,594$48,187
Registration fees$365.46$365.46$365.46
Government costs$365.46$19,958.96$48,552.46
First Home Owner GrantNot eligibleNot eligibleNot eligible
Under 5% scheme capYesYesYes
5% deposit$32,500$45,000$60,000
Assumptions
  • First home buyer, owner-occupier, at least one buyer an Australian citizen or permanent resident, buying with a loan.
  • 5% Deposit Scheme cap check uses the Sydney and listed regional centres cap; confirm your postcode with the official tool.
  • Calculated from Revenue NSW rules checked on 26 October 2026. Excludes conveyancing, inspections, lender fees and LMI.

The three prices show the three bands. The unit is under the exemption threshold, so the only government costs are registration fees. The townhouse sits in the reducing band, where the concession shrinks the further the price is above $800,000. The house is over $1,000,000, so full transfer duty applies.

All three are under the $1,500,000 Sydney cap for the 5% Deposit Scheme, so an eligible buyer could buy any of them with a 5% deposit and no LMI. The cash needed at settlement is very different, though: the house needs the full duty on top of the deposit.

5% Deposit Scheme and Help to Buy in NSW

The 5% Deposit Scheme’s Sydney cap of $1,500,000 also covers the listed regional centres, so a Newcastle or Wollongong buyer uses the same cap as a Sydney buyer. Help to Buy sets a lower NSW cap of $1,300,000, so a home can fit one scheme and not the other.

Price caps in New South Wales
Area5% Deposit SchemeHelp to Buy
Sydney and Central Coast, Coffs Harbour–Grafton, Illawarra, Mid North Coast, Richmond–Tweed, Newcastle and Lake Macquarie$1,500,000$1,300,000
Rest of NSW$800,000$800,000
5% Deposit Scheme caps from 1 July 2026. Help to Buy sets its own caps and area lists, so check its postcode tool too. Checked 26 October 2026.

Eligibility for both schemes, and the First Home Super Saver Scheme, is set out on our first home buyers overview.

Off the plan, new homes and land in NSW

FHBAS applies to new homes and off-the-plan purchases on the same thresholds as existing homes, so a new apartment and an older one at the same price get the same concession. The difference is the grant, which only new homes can get.

Owner-occupiers buying off the plan can defer paying transfer duty for up to 12 months (pay at the earliest of 15 months after the contract, settlement, or sale/assignment). Not a reduction in duty. Not available if any purchaser is a foreign person, or for vacant land.

If you are buying land to build on, check two sets of numbers: the land thresholds for FHBAS ($350,000 exempt, reduced up to $450,000) and the grant’s $750,000 cap on land plus the building contract. A construction loan is paid out in stages; see construction loans.

How and when to apply in NSW

  1. Step 1: Check eligibility before you exchange

    Confirm that every buyer, and every buyer's spouse or partner, has never owned residential property in Australia, and that at least one of you is a citizen or permanent resident. Do this before you exchange contracts, not after.

  2. Step 2: Get pre-approval with the concession in the budget

    Your lender assesses the purchase with the duty you will actually pay. If the price could land in the reducing band, we work out the cash needed at the top of your range.

  3. Step 3: Your conveyancer claims FHBAS with the duty

    In most purchases your conveyancer or solicitor lodges the FHBAS claim when the duty is assessed. Tell them early that you are claiming it, and confirm it is on the assessment before settlement.

  4. Step 4: Apply for the grant, if your home qualifies

    For a new home under the cap, many lenders can lodge the First Home Owner (New Homes) Grant application for you. Otherwise you apply to Revenue NSW directly.

  5. Step 5: Move in and stay

    Move in within 12 months after settlement and live there for at least 12 continuous months.

For the full path from saving to settlement, including pre-approval and bidding at auction, see first home loans.

Documents to have ready

  • Passport or birth certificate, and proof of citizenship or permanent residence
  • Recent payslips and an employment letter, or tax returns if self-employed
  • Bank statements showing your savings and the deposit
  • Contract of sale (and building contract for land or a new build)
  • Details of your spouse or partner, who must also never have owned residential property in Australia

Lender requirements differ; this is a typical list, not a government rule.

Common mistakes in NSW

  • Bidding just over a threshold

    Between $800,000 and $1,000,000 every extra dollar reduces the concession. Know your duty at each price before auction day.

  • Counting on the grant for an existing home

    The NSW grant is for new homes only. An established unit or house gets FHBAS but no grant.

  • Forgetting a partner's past property

    FHBAS looks at you and your spouse or partner. If your partner has owned residential property in Australia, you can't use it.

  • Renting it out too early

    If you don't meet the residence requirement, the concession can be withdrawn and full duty becomes payable.

First home buyer questions in NSW

How much stamp duty does a first home buyer pay in NSW?

Nothing on a new or existing home up to $800,000, if you meet the FHBAS conditions. Between $800,000 and $1,000,000 you pay reduced duty; above that, full duty. Use the calculator on this page for your price.

Can I get the First Home Owner Grant on an established home in NSW?

No. The First Home Owner (New Homes) Grant is only for new, off-the-plan or substantially renovated homes up to $600,000, or $750,000 when building.

Is the NSW first home buyer concession income tested?

The FHBAS rules we checked have no income test. What matters is the price, your ownership history and your residency.

Can I get FHBAS if I'm on a visa?

At least one first home buyer must be an Australian citizen or permanent resident. Temporary visa holders can only benefit with a citizen or PR co-buyer, and still pay surcharge purchaser duty of 9% on their share. See the visa guides, or the permanent resident guide for the 200-day rule.

Do I have to live in the home?

Yes. Move in within 12 months after settlement and live there for at least 12 continuous months.

Suburb guides

Prices, rents and who lives where, for the Sydney suburbs our clients buy in most. NSW suburb guides

Check your first home numbers with Sulav

We work out which concession and grant apply to you, what you can borrow and how much cash you need at settlement.

Book a consultation0416 066 954

First home buyer guides for other states

Sources

Every rule and figure on this page comes from these official sources. Dates show when we last checked each one.

  1. First Home Buyers Assistance SchemeRevenue NSW · Checked
  2. First Home Buyers Assistance Scheme (new or existing home)Revenue NSW · Checked
  3. First Home Owner (New Homes) GrantRevenue NSW · Checked
  4. Off-the-plan duty payment deferralRevenue NSW · Checked
  5. Surcharge purchaser dutyRevenue NSW · Checked
  6. Surcharge purchaser duty (surcharge for individuals)Revenue NSW · Checked
  7. Surcharge purchaser duty (official calculator)Revenue NSW · Checked
  8. General transfer duty rates 2026/2027 (incl. premium residential rate)Revenue NSW · Checked
  9. NSW Land Registry Services feesNSW Land Registry Services · Checked
  10. 5% Deposit Scheme property price capsHousing Australia · Checked
  11. Australian government 5 percent deposit schemeHousing Australia · Checked
  12. 69409Housing Australia · Checked
  13. 69410Housing Australia · Checked
  14. Uncapped 5 cent deposits available first home buyers todayPrime Minister of Australia (media release) · Checked
  15. Help to Buy schemeHousing Australia · Checked
  16. Help buy property price capsHousing Australia · Checked
  17. Htb thresholdsHousing Australia · Checked
  18. First Home Super Saver SchemeHousing Australia · Checked
  19. Surcharge purchaser duty: individualsRevenue NSW · Checked
  20. What is surcharge purchaser dutyRevenue NSW · Checked
  21. FHBAS: New Zealand citizen declaration (form)Revenue NSW · Checked