Buying your first home in the Australian Capital Territory (ACT) is a major milestone, but it can also feel overwhelming if you’re unsure where to begin. The ACT, which encompasses Canberra and surrounding regions, offers a unique property market with its own set of benefits and challenges for first-time buyers.
From checking which schemes are still open to working out stamp duty concessions, there’s a lot to navigate. Fortunately, the ACT Government has initiatives in place to make homeownership more affordable for first home buyers.
This guide will walk you through the key schemes, benefits, and practical steps you need to know when buying your first home in the ACT. Whether you’re looking to settle in Canberra’s city suburbs or in nearby regions, we’ll cover everything to help you confidently step onto the property ladder. For the national schemes and the general buying steps, see our first home buyers guide.
Who Qualifies as a First Home Buyer in ACT?
To access ACT first home buyer grants and concessions, you must meet certain eligibility criteria:
- You must not have owned residential property in Australia (the Home Buyer Concession Scheme allows ownership more than five years ago).
- Be at least 18 years old.
- Be an Australian citizen or permanent resident.
These conditions ensure that first home buyer benefits are directed toward genuine owner-occupiers rather than investors.
First Home Buyer Grant ACT & Assistance Schemes
First home buyers in the ACT can access government grants and concessions to help make homeownership more affordable. These forms of financial assistance are designed to support eligible homebuyers with the costs of a first home purchase.
First Home Owner Grant (FHOG) ACT
What is it? The ACT First Home Owner Grant has closed. Payments stopped on 1 July 2019, and the Home Buyer Concession Scheme (below) replaced it.
ACT Home Buyer Concession Scheme (HBCS)
For ACT first home buyers, stamp duty concessions are a major benefit. The Home Buyer Concession Scheme offers:
- No stamp duty for eligible buyers on a home or vacant residential land, whatever the price. From 1 July 2026 there is no income test and no property price cap.
- Eligibility applies to new and established homes, as well as vacant residential land, provided you intend to live there.
This can lead to thousands in upfront savings for first home buyers in the ACT.
Stamp Duty Exemption ACT First Home Buyer — How It Works
Stamp duty is a significant upfront cost, but ACT first home buyers may be eligible for exemptions or discounts:
- No stamp duty: from 1 July 2026, eligible buyers pay no stamp duty on a home or vacant residential land, whatever the price.
The Step-by-Step Process for ACT First Home Buyers
1. Saving for a Deposit
- Aim for at least a 10-20% deposit. If your deposit is smaller, the Australian Government 5% Deposit Scheme lets eligible first home buyers buy with a 5% deposit and no lenders mortgage.
- Use the First Home Super Saver Scheme (FHSSS) to accelerate savings via your superannuation.
2. Get Pre-Approval
- Talk to lenders or a mortgage broker to determine your borrowing capacity.
- Pre-approval gives you a clear budget and strengthens your offer.
3. House Hunting
- Research suburbs, considering schools, transport, and lifestyle. Our Canberra property buyers guide covers suburbs and the local market in more detail.
- Check ACT property listings online and attend open inspections.
4. Making an Offer & Negotiating
- Work with your agent to make a competitive offer.
- Carefully review the contract of sale.
5. Legal Checks & Conveyancing
- Engage a conveyancer or solicitor for legal due diligence.
- Arrange necessary inspections (building, pest, etc.).
6. Settlement & Moving In
- On settlement day, ownership transfers and you receive the keys.
- Organise utilities and notify relevant parties of your new address.
ACT Property Market Insights for First Home Buyers
- Median Prices: Canberra’s median property prices are among the highest in Australia. Staying updated with CoreLogic or ACT property reports is essential.
- Market Trends: The ACT market is showing signs of stabilisation, with forecasts suggesting flat-to-moderate price movements over the next year.
- Increased Housing Supply: Stock availability has risen, giving buyers more choice and improving negotiating power.
Typical Costs for ACT First Home Buyers
| Cost Type | Estimated Amount (AUD) |
| Deposit (10-20%) | $50,000 – $100,000 |
| Stamp Duty | $0 – $18,000+ (with HBCS) |
| Legal & Conveyancing | $1,500 – $3,000 |
| Building Inspections | $400 – $800 |
| Mortgage Fees | $500 – $2,000 |
| Council Rates | $2,000 – $3,000 annually |
For new builds, factor in progress payments as construction milestones are completed.
Common Mistakes First Home Buyers in ACT Should Avoid
Even with grants and concessions available, it’s easy to make costly mistakes as a first home buyer. Here are some common pitfalls to watch out for:
- Not Checking Eligibility Early: Many buyers assume they qualify for grants or stamp duty concessions without checking the fine print. Always confirm your eligibility through the ACT Revenue Office before committing.
- Overstretching Your Budget: Falling in love with a property that stretches your finances is risky. Ensure you factor in all costs, including legal fees, inspections, and ongoing expenses like council rates.
- Ignoring Additional Costs: Beyond the property price, don’t forget upfront costs like stamp duty (if applicable), mortgage fees, and moving expenses.
- Skipping Pre-Approval: House hunting without a loan pre-approval can slow you down and leave you unprepared when making an offer.
- Neglecting Future Lifestyle Needs: Think long-term—will the property suit your lifestyle in five years? Consider aspects like transport, schools, and future family needs.
- Not Seeking Professional Advice: Engaging a mortgage broker, conveyancer, and trusted advisors can help you navigate the process smoothly and avoid missteps.
Frequently Asked Questions
Is there a first home buyers grant in Canberra?
No. The ACT First Home Owner Grant stopped on 1 July 2019. It was replaced by the Home Buyer Concession Scheme, which lets eligible buyers pay no stamp duty on a home or vacant residential land.
Is there an income limit for the Home Buyer Concession Scheme?
Not from 1 July 2026. The scheme now has no income test and no property price cap.
Who is eligible for the Home Buyer Concession Scheme?
You and your partner must not have held an interest in any property in the last 5 years, and you must live in the home for at least 1 year.
Key Takeaways for ACT First Home Buyers
- Check Your Eligibility: Ensure you meet the criteria for the Home Buyer Concession Scheme (HBCS).
- Understand Stamp Duty Exemptions: If you’re eligible for the Home Buyer Concession Scheme, you pay no stamp duty, whatever the price.
- Factor in All Costs: Consider not just the property price, but also legal fees, inspections, mortgage charges, and ongoing expenses.
- Stay Informed on Market Conditions: Keep track of ACT property trends and any changes to the concession rules to plan your purchase effectively.
- Seek Expert Guidance: Working with brokers, conveyancers, and property advisors can save you time, money, and stress.
- Use Government Resources: ACT Revenue Office and other official websites are your go-to for accurate and up-to-date information on grants and schemes.
