First Home Buyers in Perth: Every Grant and Concession Available in 2026

Trying to secure your very first home in this property market can easily feel like chasing a moving target. Rent prices across Western Australia keep climbing, and trying to scrape together a massive deposit while paying off a landlord’s mortgage is a cycle that is incredibly tough to break. However, if you are looking to get your foot in the door through first home buyer Perth 2026 applications, you actually have access to some of the most generous financial lifelines we have seen in years. Our team at Bourkes has pulled together the latest, fully updated rules so you can see exactly how much cash you can keep in your pocket instead of handing it over to the tax office.

When you know where to look, these state and federal programs can completely rewrite your buying power. You could find yourself skipping upfront transfer duty (stamp duty) entirely, picking up a $10,000 cash boost, and avoiding thousands in hidden bank insurance fees. Let us dig straight into the practical details of what is available right now, how the sliding scales work and why a massive shift in upcoming deadlines means you need to know exactly where you stand to maximise your savings.

The Big News: Freshly Expanded Transfer Duty Thresholds

The biggest win for buyers right now comes off the back of the WA State Budget handed down in May 2026. The government introduced a major housing taxation package that significantly lifted the thresholds for the First Home Owner Rate of Duty. This means the old limits have been thrown out to better match real-world property prices across Perth.

Under these freshly updated rules, the transfer duty breaks look like this:

• Up to $600,000: You pay absolutely zero transfer duty on newly built or established homes. This fee-free threshold was previously capped at $500,000, so wiping it out up to $600,000 keeps thousands of extra dollars in your bank account.
• Between $600,000 and $800,000: The duty applies on a tapered, concessional scale. The relief gradually phases out the closer you get to the $800,000 ceiling, meaning you still receive scaled assistance even if you are buying a slightly more premium metro property.
• Vacant Land: If you are buying a block to build your dream home, the tax-free threshold has been bumped up to $450,000, with partial concessions scaling up to $550,000.

One important note: while these changes apply to contracts entered into from 7 May 2026, RevenueWA’s system updates are estimated to be completed in late July 2026. Buyers who settle before that date will initially be assessed at previous rates and can apply for a reassessment and refund once the changes are live. 

The Extended Off-the-Plan Concession

There is also a massive update regarding the State Government’s off-the-plan transfer duty concession. If you have been looking at brand-new apartments or townhouses that are still in the pre-construction phase, you might have heard about an impending June 2026 expiry date.

The great news is that the WA Government officially extended this concession for an additional two years, pushing the deadline out to 30 June 2028. This extension gives local buyers some serious breathing room to get a contract signed without feeling forced to rush a decision.

The scheme offers up to a 100% reduction on transfer duty for pre-construction contracts on properties valued up to $800,000, phasing down to a 50% concession for properties up to $900,000. Even better, the recent updates have expanded the rules to include survey-strata and community title schemes. If you are looking at a modern townhouse or apartment complex, this remains an incredibly powerful tool to use.

The WA First Home Owner Grant (FHOG)

For those who want to build a completely new property or buy a brand-new build, the WA First Home Owner Grant remains a core pillar of support. This is a flat $10,000 cash grant designed to help you get over the line.

To get this money, your property and situation must hit a few specific markers:

• Property Type: The home must be brand new (meaning nobody has lived in it before), or it needs to have undergone a substantial, certified structural renovation. It does not apply if you are buying an established, pre-existing home.
• Value Caps: To ensure buyers are not disadvantaged by rising construction costs, the property value cap has been raised to $800,000 for homes south of the 26th parallel (which covers the entire Perth metro area).
• Eligibility Basics: You must be an Australian citizen or permanent resident, you cannot have owned a residential property in Australia before, and you must occupy the home as your principal place of residence for a continuous period of at least six months, commencing within 12 months of settlement or construction completion. 

To read the full official criteria and check your eligibility, visit the WA Government FHOG portal.

The Federal Five Per Cent Deposit Scheme

Saving a full 20% deposit in today’s environment can take years. Worse yet, if you try to buy with a smaller deposit, banks will generally force you to pay Lenders Mortgage Insurance (LMI). This insurance does not protect you; it only protects the bank, and it can easily add upwards of $10,000 to your debt. 

This is where the Federal Government’s Home Guarantee Scheme steps in. As of 1 October 2025, the scheme removed annual place limits and income caps, meaning eligible buyers no longer need to race for a spot or fall under a salary threshold to qualify. Under this program, eligible first home buyers can purchase a property with a deposit as small as 5%, and the government guarantees the remaining 15%, so you do not pay a single dollar of LMI. In Western Australia, the property price cap for this scheme sits at a generous $850,000, giving you plenty of options to find a quality home in excellent locations.

Stacking Your Savings in Como and Rivervale

The real magic happens when you start combining these individual programs together. They are not mutually exclusive, meaning you can stack them to supercharge your true buying power. For instance, if you have family assistance to help build up that initial 5% deposit, combining parental support with these updated government incentives can put you years ahead of schedule.

To make this practical, look at how these numbers play out in highly sought-after areas like Como and Rivervale. While a standalone house in these suburbs might stretch a first-time budget, the apartment and townhouse market offers fantastic options well under the $850,000 federal cap.

Buying a modern two-bedroom unit in Rivervale or a sleek apartment in Como for around $580,000 allows you to enjoy a 100% transfer duty exemption under the new thresholds. If you opt for an off-the-plan development, you can layer these savings even further while securing a premium location close to the Swan River and the CBD.

Next Steps and Verification

While the numbers and savings are a massive win, everyone’s personal situation is a bit different. The eligibility rules have strict fine print regarding your previous relationship history, residency status, and when your construction timeline has to kick off on the ground.

With the calendar ticking closer to the end of the financial year and these massive new state budget updates rolling out, the next few weeks are going to be incredibly busy for the Perth property sector. If you want to make sure you capitalise on these shifting policies, get in touch with the experts at Bourkes today.

Disclaimer: Information in this article is based on RevenueWA and Federal Government guidance current at the time of publication. Always confirm current thresholds, eligibility criteria, and legislative requirements with official government bodies or a qualified financial professional before entering into a financial agreement.