Tasmania is looking to raise the stakes in the housing market by tripling its First Home Owner Grant for new builds to $30,000. If returned to government, Premier Jeremy Rockliff’s Liberal team says the boosted payment will give young Tasmanians and families a stronger shot at breaking into the property market, while also fuelling the local construction industry.
It’s not just a big number. On a national scale, it would place Tasmania equal with Queensland, which is offering $30,000 until June 2025. Only the Northern Territory offers more—up to $50,000 in total assistance—but that’s spread across different incentives and applies under more limited circumstances. Most other states are stuck at the $10,000 to $15,000 range.
Premier Rockliff says the new figure will make building more accessible by cutting upfront costs and reducing the deposit hurdle. “This means lower upfront costs, greater financial certainty, and a stronger incentive to build,” he said. “It’s about getting more homes built, backing jobs, and helping families put down roots.”
The grant would apply to eligible first home buyers who contract to build a new home in Tasmania. It can also be used in conjunction with the MyHome shared equity scheme, which allows entry into the market with just a 2 per cent deposit. That program’s price cap will be lifted from $600,000 to $800,000 under the new plan. For many buyers, this could mean getting into a new home with virtually no savings required, as the $30,000 grant could fully cover the deposit.
“Together with MyHome, this means a young Tasmanian family who are currently renting could build their first home with a 2 per cent deposit fully covered by the grant, and start paying off a mortgage instead of paying rent,” Rockliff said.
Industry players say it’s the sort of announcement that could spark real momentum. Rebecca Ellston from the Property Council’s Tasmanian branch called it “the shot in the arm” the sector needs. “Raising the grant to $30,000 for the building of new homes will deliver a much-needed boost to the construction industry,” she said. “It gives Tasmania a clear edge over states still offering $10,000 to $20,000. This kind of policy helps young Tasmanians come home, builds jobs, and adds spending to local economies.”
To put it in perspective, here’s how Tasmania stacks up if the proposal goes ahead:
- Tasmania (proposed): $30,000 for building a new home
- Queensland: $30,000 for new homes (until June 2025)
- Northern Territory: Up to $50,000 in combined support through multiple programs (e.g. BuildBonus, THOD)
- South Australia: $15,000 for new homes under $650,000
- Victoria: $10,000 for new homes under $750,000 (metro and regional)
- New South Wales: $10,000 for new homes under $750,000; nothing for established homes
- Western Australia: $10,000 for new builds, with additional concessions
- ACT: Grant phased out; offers stamp duty concessions instead
Across all states, buyers must meet various eligibility rules. These typically include being an Australian citizen or permanent resident, living in the home for at least 6 to 12 months, and never having owned property before. Grants usually apply only to new constructions or substantially renovated homes, and there are property value caps in place to ensure the assistance targets low- to mid-tier buyers.
The Premier added that the Liberal Government had already abolished stamp duty for eligible first home buyers of existing homes, and halved it for off-the-plan apartments. These changes, along with the proposed grant increase, form a broader strategy to stimulate new housing supply and ease pressure on renters.
The message is aimed squarely at voters. Rockliff framed the announcement as a clear contrast to Labor and the Greens, accusing them of stalling progress. “While Labor and the Greens argue, we’ve been delivering better healthcare, more housing, and responsible cost-of-living relief,” he said. “But we can’t finish the job without a majority Liberal Government.”
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