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Overview
VIC provides FHB concessions within price caps, subject to eligibility and occupancy. These concessions aim to lower upfront costs for eligible first‑time owner‑occupiers. The actual amount depends on the contract date, dutiable value, and whether you satisfy SRO Victoria's rules around prior property ownership, citizenship/permanent residency, and occupancy timing. Because value thresholds and policy details can change through the financial year, confirm the latest settings before committing to a contract. Your conveyancer can advise on evidence requirements and help you avoid common errors that delay or reduce benefits.
A frequent area of confusion is how "dutiable value" is determined (e.g., off‑the‑plan or land‑plus‑build contracts). Small changes in inclusions, incentives, or valuation can shift you above or below a threshold. Occupancy windows also matter — you typically must move in and remain in the home for a minimum period. If you are near a cap, use the calculator to compare different purchase prices so you can negotiate with clarity and avoid missing out on concessions by a narrow margin.
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Sources
- SRO Victoria — First home buyer: https://www.sro.vic.gov.au
- ASIC Moneysmart — Buying a home costs: https://moneysmart.gov.au
Frequently asked questions
Do FHB concessions apply to all properties?
They are subject to price caps and other eligibility rules. Check SRO Victoria for current settings.
What are the occupancy requirements?
You usually must occupy the property as your home within a set period and for a minimum duration.
Can I claim if I have owned property before?
Generally no. Prior ownership may disqualify you, but check SRO Victoria for specific exceptions.
RealEstateCalc Editorial
Property & Finance ResearchThe RealEstateCalc editorial team researches and writes about Australian property, finance, and tax topics. All content is fact-checked against official sources including the ATO, state revenue offices, ASIC Moneysmart, and the RBA.
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