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

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

Sally Mackenzie
February 19, 2024
We chose Uno Home Loans from their impressive web site knowing we were going to find it hard, on many fronts, to qualify for a home loan. We were incredibly fortunate to be assigned Mike Parsons as right from the get-go, despite the complexities, he hit the ground running for us. He was incredibly knowledgeable, with years of experience but what was immediately apparent and impressive was that he was totally invested in getting us over the line, doing absolutely everything possible, including working around the clock. Despite it being a relatively small loan in the order of things, Mike never missed a beat, getting docs ready, following up and answering every request from the proposed funder immediately. He kept us informed on progress the minute anything happened, and again if anything needed to be done, he was right on it. In short, we highly recommend Uno, and Mike, knowing what a remarkable job he did, over many weeks, to get us our loan. He got us a great deal, with far better rates than we expected, so we couldn't be happier. In fact, without doubt, you'd be hard pressed to find a more personable, sharp, hard working, dedicated professional who clearly prides himself on getting his customers standout results.
Read more
February 13, 2024
Scott and his team were just A-mazing. We felt supported through the whole process with the greatest quality and care. Every question answered right in time, or even before we asked. The process was smooth and we got the best outcomes we could have wished for.
Read more
Angela Biddle
February 6, 2024
Our mortgage recently came up for renewal, and with interest rates skyrocketing we were looking for ways to minimise the impact. Michael and his team were proactive and attentive. Michael spent time with us to understand our circumstances. He found mortgage options that worked with our current financial situation and longer investment plans. He presented clear options, providing guidance where needed. He and his team were helpful and responsive - streamlining the process and keeping us updated through the negotiations. In the end, Uno did the heavy lifting and secured a significantly better rate than our current bank offered, all with friendly, personal service. We would highly recommend UNO Home Loans.
Read more
Fotis Bikas
January 15, 2024
I cannot help but congratulate Scott Wilkinson of UNO Home Loans for being an absolute credit to both his company and the entire loans industry. Scott is a truly rare gem of a broker in that he will not only go the extra mile to achieve for each customer the very best deal, but his knowledge of all and sundry within the industry is unsurpassed (you will see what I mean if you speak to him). Additionally, Scott has a clear passion for imparting his wealth of information with each customer, whereas the conversation with most other brokers would simply be over if they could not get you the best deal. For me, Scott Wilkinson of UNO Home Loans stands head and shoulders above the competition and I feel privileged to benefit both from his expertise and professionalism whenever it is time for a refinance or new loan.
Read more
Tomoharu Matsui
January 11, 2024
Michael Parsons helped me a lot when it's difficult to establish my capabilities in loan.
Read more
Gillian Kearon
January 9, 2024
I highly recommend Mike Parsons as a mortgage broker. I couldn't fault the service provided by UNO. Thanks Mike!
Read more
Taner T
December 20, 2023
Thank you Eren Tan for the amazing service and support. Our Loan was a little tricky and complex for other lenders but Eren managed to get it over the line in record time. His professionalism and dedication to our needs was exceptional. If you need a Loan no matter how complex your situation, make sure you contact Eren at UNO Home Loans.
Read more
Karaipu Brown
December 20, 2023
Buying & selling a house at the same time is very stressful but Scott Wilkinson from UNO home loans made sure we knew what was happening & took most of the stress away. He always kept us up to date and if we had a concern or wanted clarification on something we were able to call him, if he didn’t know the answer straight away he will find out and contact us back.. now we are enjoying our new house and turning it into a home :)
Read more
Chris Anderson
December 18, 2023
Just completed my first loan with UNO which was so much easier than with other other brokers I have used in the past. Our broker MIKE PARSONS always had time for me and broke things down for me in the simplest of terms and was very patient with my silly questions and my constant changing of plans. I wish I had used them in the past as I wouldn't be in the situation I'm in now. Can't recommend them highly enough. Thanks UNO and Thanks MIKE 😊
Read more
Stephen Broomfield
December 11, 2023
To be able to recommend Scott Wilkinson for your mortgage broker was a privilege. We had deals fall through but Scott supported, guided and stuck with us, proper partnership. The whole team at UNO helped us and supported us right through to after settlement. Made sure everything was correct and how we are progressing. Communication was amazing and straightforward and easy to understand. Transparent. We can not Recommend Scott and the team as Uno high enough. Use UNO with confidence.
Read more
Tarek Hussain
December 6, 2023
Can't thank Amy enough for her hard work, dedication and determination on getting multiple loans completed for me. I wouldn't hesitate in recommending Amy and the Uno team to any of my associates. Will definitely be back in the near future!
Read more
November 3, 2023
If you’re looking for a trustworthy, thorough, reliable & knowledgeable Mortgage Broker then you must call Anita Callaghan! I can’t even imagine how stressful this process would’ve been without her. Anita went above and beyond to make sure she answered every question, responded to every text (even on weekends/after hours), and followed up on every detail to ensure we had all the info we needed. Anita is a true people person who is warm, empathetic, kind and supportive. You can tell she loves helping people and loves what she does, which is probably why she’s so good at it! Can’t thank you enough Anita, or recommend you more highly! You’re the best!
Read more