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Below are the links to the state and federal government home ownership initiatives.

To learn more about Head Start ÐÇ¿ÕÊÓƵs and its affordable home ownership options, visit .  

To register your interest at Head Start ÐÇ¿ÕÊÓƵs, visit .

State initiatives

First ÐÇ¿ÕÊÓƵowner Grant

One-off payment of $10,000

• New home worth up to $600,000 or;
• House-and-land package with a combined value of $750,000 or less.
• The grant is not taxable and doesn’t have to be repaid.

First ÐÇ¿ÕÊÓƵ Buyer Assistance Scheme

• Purchasing a property worth less than $650,000 pay no stamp duty.
• Purchasing a property valued between $650,000 and $800,000 stamp duty discount.

First ÐÇ¿ÕÊÓƵ Buyer Choice

• opt out of upfront stamp duty in favour of paying an annual property tax.
• Up to $1.5 million purchase price.
• Annual levy is based on the land value of the property, rates for 22-24:

$400 plus 0.3% of land value for owner-occupiers

$1500 plus 1.1% of land value for investors

Shared Equity ÐÇ¿ÕÊÓƵ Buyer Helper

• Key worker
• Single parent
• Single aged 50 years or older
• 2% deposit
• No lender’s mortgage insurance (LMI)
• 40% of a new home’s purchase price or;
• 30% for an existing home.

National initiatives

ÐÇ¿ÕÊÓƵ Guarantee Scheme 

• low deposit
• No lender’s mortgage insurance (LMI)

From 1 July 2022, there are 50,000 places available each financial year made up of:

• 35,000 : These help eligible first home buyers purchase a property with a deposit of as little as 5%

• 10,000 : These help eligible regional first home buyers purchase a home in a regional area with a deposit of as little as 5%

• 5,000  These help single parents with at least one dependent child buy a home with a deposit of as little as 2%

First ÐÇ¿ÕÊÓƵ Super Saver Scheme

• Pre-tax or after-tax voluntary contributions into your superannuation account to save a deposit.
• $15,000 per year
• Maximum lifetime cap of $50,000.
• Taxed at 15%, instead of your regular income tax bracket.

Disclaimer
Link Wentworth has researched available government initiatives that may benefit our customers. The information provided here is for information only. Please rely on your own research and investigations. Link Wentworth Housing assumes no responsibility or liability for the information on these pages. Link Wentworth Housing is not a broker for the information on these pages. This information is accurate as of 21 March 2023.