We administer Victorian Government initiatives that aim to help Victorians buy or build their homes:
- The Victorian Homebuyer Fund is a shared equity scheme which allows people aiming to purchase a home to receive a contribution of up to 25% of the value of their home.
- First home buyers who build or buy a new home are eligible for a $10,000 First Home Owner Grant, which doubles to $20,000 for new homes in regional areas.
- First home buyers don’t pay stamp duty if they purchase a property for $600,000 or less. They receive a concession if they buy a property valued at less than $750,000.
First home owners
First home owner grant
The First Home Owner Grant (FHOG) continues to help Victorians buy or build their first home.
In 2021-22, we issued $223.4 million in these grants to help 16,886 people achieve home ownership.
| No. | Postcode | Suburb | Applications |
|---|---|---|---|
| 1 | 3029 | Hoppers Crossing, Tarneit, Truganina | 1,470 |
| 2 | 3064 | Craigieburn, Donnybrook, Kalkallo, Mickleham, Roxburgh Park | 1,237 |
| 3 | 3978 | Cardinia, Clyde | 939 |
| 4 | 3336 | Aintree, Deanside, Fraser Rise | 845 |
| 5 | 3335 | Rockbank, Plumpton, Thornhill Park | 687 |
| 6 | 3217 | Charlemont, Armstrong Creek, Mount Dundeed, Freshwater Creek | 605 |
| 7 | 3338 | Melton South, Cobblebank, Brookfield | 568 |
| 8 | 3977 | Cranbourne, Botanic Ridge, Cannons Creek, Devon Meadows, Skye | 519 |
| 9 | 3024 | Mt Cottrell, Wyndham Vale | 497 |
| 10 | 3030 | Cocoroc, Derrimut, Point Cook, Quandong, Werribee | 445 |
| Total | 7812 |
| No. | Postcode | Suburb | Applications |
|---|---|---|---|
| 1 | 3029 | Hoppers Crossing, Tarneit, Truganina | 1,470 |
| 2 | 3064 | Craigieburn, Donnybrook, Kalkallo, Mickleham, Roxburgh Park | 1,237 |
| 3 | 3978 | Cardinia, Clyde | 939 |
| 4 | 3336 | Aintree, Deanside, Fraser Rise | 845 |
| 5 | 3335 | Rockbank, Plumpton, Thornhill Park | 687 |
| 6 | 3338 | Melton South, Cobblebank, Brookfield | 568 |
| 7 | 3977 | Cranbourne, Botanic Ridge, Cannons Creek, Devon Meadows, Skye | 519 |
| 8 | 3024 | Mt Cottrell, Wyndham Vale | 497 |
| 9 | 3030 | Cocoroc, Derrimut, Point Cook, Quandong, Werribee | 445 |
| 10 | 3750 | Wollert | 373 |
| Total | 7580 |
| No. | Postcode | Suburb | Applications |
|---|---|---|---|
| 1 | 3217 | Charlemont, Armstrong Creek, Mount Dundeed, Freshwater Creek | 605 |
| 2 | 3350 | Alfredton, Ballarat, Canadian, Invermay Park, Mt Clear, Mt Helen | 237 |
| 3 | 3551 | Arnold, Ascot, Axe Creek, Bagshot, Cornella, Epsom, Huntly, Kimbolton | 189 |
| 4 | 3753 | Beveridge | 170 |
| 5 | 3756 | Chintin, Darraweit Guim, Hidden Valley, Upper Plenty | 139 |
| 6 | 3818 | Athlone, Drouin, Drouin East, DrouinSouth, Drouin West, Hallora, Jindivick, Ripplebrook | 136 |
| 7 | 3212 | Avalon, Lara, Point Wilson | 124 |
| 8 | 3691 | Baranduda, Bethanga, Gundowring, Killara, Leneva, Ornornes Flat, Tangambalanga | 100 |
| 9 | 3631 | Arcadia, Arcadia South, Branditt, Cosgrove, Cosgrove South, Grahamvale, Karramomus, Kialla, Kialla East, Kialla West, Lemnos, Orrvale, Pine Lodge, Shepparton East, Shepparton North | 93 |
| 10 | 3358 | Winter Valley | 86 |
| Total | 1879 |
Stamp duty discounts helping first home buyers
To make it easier for first home buyers to buy a property to live in, first home buyers can be eligible for an exemption or concession from stamp duty. First home buyers don’t pay stamp duty if they purchase a property for $600,000 or less. They receive a concession if they buy a property valued at less than $750,000.
In 2021-22:
- 31,607 first home buyers purchased properties for $600,000 or less and paid no stamp duty at all.
- 13,074 first home buyers purchased properties for less than $750,000 and received a concession on stamp duty.
- The total value of 44,681 stamp duty concessions and exemptions was $801.3 million.
Concessions for home buyers
Pensioner exemptions and concessions
This year, 5,506 pensioners (5,637 in 2020-21) accessed the specific exemptions and concessions available to them to buy their own homes, totalling $63.9 million ($62 million last year) in combined savings.
Principal place of residence concessions
The principal place of residence (PPR) concession supports Victorians who buy their own home. This concession is available to those buying a property valued up to $550,000 and who move into their home within 12 months of settlement.
This year, 46,181 of our customers accessed this concession leading to total customer savings of $103.8 million.
| Principal place of residence concessions | Number | Value |
|---|---|---|
| Metropolitan Melbourne | 27,431 | 64.4 |
| Regional Victoria | 18,750 | 39.4 |
| TOTAL | 46,181 | 103.8 |
Melbourne city concession
During 2022, we administered a temporary land transfer (stamp) duty concession and exemption available for purchases of residential property, with a dutiable value of up to $1 million, located within the City of Melbourne local government area:
- A 50% concession was available for new residential properties; 60 customers accessed this concession for total savings of $1.27M.
- A full exemption was available for new residential properties that remained unsold for 12 months or more since completion of construction; 305 customers accessed this exemption for total savings of $11.0M.
Australian HomeBuilder Grant
We also administer the HomeBuilder Grant on behalf of the Australian Government. Applications for this grant closed during the previous financial year; in 2021-22, we continued managing the delivery of these grants to successful applicants.
