Determining eligibility for Victorian first home buyer benefits involves meeting specific criteria related to residency, property value, and whether you’ve previously owned property. These benefits currently include potential exemptions from stamp duty and access to the First Home Guarantee Scheme.
As of December 2025, the Victorian Government offers various schemes. The First Home Buyer Grant, providing a $10,000 grant towards a new home, is available for eligible buyers purchasing a new home valued up to $600,000. Stamp duty concessions and exemptions apply to established homes valued under $650,000, with a sliding scale for properties between $650,000 and $750,000. In 2026, we anticipate continued strong demand from first home buyers, particularly in Melbourne’s Eastern Suburbs like Balwyn and Doncaster, where proximity to schools and transport are key drivers. Sellers should be aware that buyers actively researching these benefits may have a longer decision-making period. Currently in Melbourne, a well-presented property that appeals to first home buyers – often meaning showcasing renovation potential – can attract strong interest. Preparing for this involves considering presentation costs, typically between $2,000 and $8,000 for styling, and ensuring high-quality photography (around $500-$1,500).
Navigating these schemes can be complex, and eligibility requirements are subject to change, with further adjustments announced for 2027.