The election is over, what does that mean for homebuyers?
The second term of the Albanese Government will expand and add housing initiatives aimed at homebuyers and building new homes.
First home buyers have received much of the attention. Eligible first home buyers will only need a 5% deposit, while 100,000 homes available exclusively to first home buyers are planned.
Information on existing schemes is available through Housing Australia, Treasury and the Australian Tax Office.
First Home Buyers
Help to Buy scheme (launched 5 December 2025)
A shared equity program allowing eligible first home buyers to purchase a home with the government contributing up to 40% of the property’s value.
5% Deposit Scheme (formerly Home Guarantee Scheme).
Eligible first home buyers, regional buyers, and single parents to purchase a home with a 5% deposit without paying Lenders Mortgage Insurance.
First home super saver scheme
First home buyers can use some of their eligible voluntary super contributions to help buy a first home.
Existing Homeowners
For existing homeowners looking to move, there are existing policies announced before the election that focus on increasing overall housing supply and improving affordability:
National Housing Accord. This is an existing agreement between federal, state, and local governments, along with industry stakeholders, aiming to build 1.2 million new, well-located homes over five years from mid-2024.The government previously committed $3.5 billion to support state and local governments accelerate housing development and improve availability. Learn more – Delivering the National Housing Accord – Treasury.gov.au
Victorian State Government schemes
- First Home Owner Grant (FHOG): This is a $10,000 grant for eligible first home buyers purchasing or building a new home valued up to $750,000. Learn more – State Revenue Office Victoria
- Stamp Duty Concessions: First home buyers may be eligible for stamp duty exemptions or concessions on properties valued up to $600,000, with concessions available for properties valued up to $750,000. Learn more – Apply for a first home buyer duty exemption, concession or reduction
- Victorian Homebuyer Fund has been discontinued in place of Australian Government schemes.
Please note: Schemes and programs have eligibility criteria that determine how they can be accessed. If you’re applying, please read the information from the relevant government department or agency carefully and seek assistance to understand your obligations if successful.
Government programs are subject to change and up to date information about the policies and programs should be sought directly from the organisation administering the policy.
Learn more:
Australian Government
- 5% Deposit Scheme (formerly the Home Guarantee Scheme)
- Help to Buy Scheme
- First Home Super Saver Scheme
- Australian Taxation Office – First home super saver scheme
Victorian Government
- Housing Victoria – Help to buy a home
- State Revenue Office – Buying a property
- State Revenue Office – First Home Owner
- State Revenue Office – Apply for a first home buyer duty exemption, concession or reduction
Disclaimer
Grants subject to State Government eligibility rules. DFC makes no warranties or representations regarding eligibility rules or criteria for any government grants.The advice, opinions and insights of this article are general in nature and based on DFC’s analysis of current market trends and government policy as of the date of publication.This article does not take into account your personal financial circumstances or objectives and may not always be entirely accurate, complete or current. We recommend speaking to an independent legal or financial advisor before making any binding decisions.