Stamp duty is one of the biggest upfront costs when buying property, and for first home buyers in Australia, it can add tens of thousands of dollars to what you need to have ready at settlement. The good news: most states offer exemptions or concessions that can significantly reduce, or in some cases eliminate, this cost. Here's what's available in each state in 2026.

Why Stamp Duty Exemptions Matter

Stamp duty is a state and territory tax calculated as a percentage of the purchase price. On a $700,000 home, the full stamp duty cost varies by state but can easily reach $25,000 to $35,000 or more. For first home buyers, every dollar counts, and the exemptions and concessions on offer can make a real difference to what you need to save.

The thresholds and conditions vary significantly between states, so where you're buying matters a lot.

Stamp Duty for First Home Buyers: State by State

New South Wales

First home buyers in NSW pay no stamp duty on properties valued up to $800,000. A concession applies on properties between $800,001 and $1,000,000, with the exemption tapering as the price increases. NSW also offers an optional annual property tax instead of upfront stamp duty for some buyers, though the full stamp duty exemption is generally the better deal for those who qualify.

Victoria

Victorian first home buyers pay no stamp duty on properties valued up to $600,000. A concession is available for properties priced between $600,001 and $750,000, with the discount reducing progressively toward the top of that range. Off-the-plan purchases may also attract additional concessions until October 2026.

Queensland

Queensland first home buyers pay no stamp duty on established homes valued up to $700,000. For new builds, there is no stamp duty with no price cap, making Queensland particularly attractive for buyers purchasing off the plan or building new.

Western Australia

In WA, first home buyers pay no stamp duty on homes valued up to $500,000 in Perth and the Peel region, with a concession available for homes between $500,001 and $700,000. In regional WA, the concession extends to $750,000. Vacant land thresholds are also available for those purchasing land to build on.

South Australia

South Australia offers no stamp duty on new homes with no price cap. This applies to newly built properties and house-and-land packages, making SA one of the most generous states for buyers choosing to build.

Australian Capital Territory

The ACT offers an exemption for first home buyers purchasing any home, new or established, valued up to $1,020,000. A concession applies for properties between $1,020,001 and $1,455,000. The ACT's thresholds are the highest in Australia, reflecting its higher-than-average property prices.

Tasmania

Tasmania offers a 100% concession on stamp duty for established homes valued up to $750,000, available from 18 February 2024 through to 30 June 2026. If you're buying in Tasmania before mid-year, this concession is worth checking carefully.

First Home Owner Grants

In addition to stamp duty concessions, most states also offer a First Home Owner Grant (FHOG) for eligible buyers purchasing new builds. The grant amount and conditions vary by state. These grants are separate from stamp duty concessions and can often be stacked with them.

Check Before You Budget

The thresholds and conditions above are a guide, not a guarantee. Rules change, and the fine print matters: conditions around property type (new vs established), your personal eligibility, and timing can all affect what you actually receive.

Before you finalise your buying budget, confirm the current rules for your state and the specific property you're considering.

How We Can Help

At Swish, we help first home buyers understand their full upfront cost picture before they start seriously looking. That includes walking you through the stamp duty situation in your state, First Home Owner Grants, the First Home Guarantee scheme, and what you actually need to have ready at settlement.

Book a free call with Swish and we'll help you understand exactly what you're working with as a first home buyer.