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Victoria’s guide to First Home Buyer Grants

By Olivia Hughes

The First Home Owner Grant (FHOG) has changed a fair bit since it was introduced 16 years ago. 

Initially established to offset the impact of the then-new GST, the national scheme has since become an important economic stimulus tool.

It’s administered and funded by the individual state and territory governments, which, over the years, have tweaked the eligibility criteria and amounts available.

That said, the aim of the scheme has remained the same: help first-time buyers get their foot on the property ladder, by making house prices more affordable.

How much?

$10,000, or $20,000 in regional Victoria

What for?

New builds, valued up to $750,000.

Victoria doesn’t offer a FHOG for established properties.

On properties valued up to $600,000, Victoria also offers full stamp duty exemptions to first home buyers of both new and pre-existing properties, and concessions on a sliding scale for homes valued between $600,001 and $750,000.

More Information here: State Revenue Office 

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