Current Government Incentives for Regional NSW Home Buyers

janet9362
7 days ago
2 min read

One of the most powerful government incentives for regional NSW home buyers is the Regional First Home Buyer Guarantee (RFHBG)—a part of the broader Home Guarantee Scheme (HGS), administered by Housing Australia.

What is the RFHBG?

The RFHBG allows eligible buyers in regional areas to purchase a home with as little as a 5% deposit—without paying Lenders Mortgage Insurance (LMI). From 1 July 2024 to 30 June 2025, 10,000 RFHBG places are available.

Who is eligible?

You must be an Australian citizen or permanent resident
You must intend to live in the property
You must not have owned property in the last 10 years
Your purchase must be in a regional area (Bathurst and Lithgow are eligible)
Income caps apply: $125,000 for individuals, $200,000 for couples

This incentive alone can save thousands in upfront costs and help you buy a home sooner than expected.

First Home Buyer Assistance Scheme (FHBAS)

If you’re buying your first home in NSW, you may qualify for exemptions or concessions on stamp duty through the First Home Buyer Assistance Scheme (FHBAS).

What can you save?

Full exemption on stamp duty for homes priced up to $800,000

Concessions for homes priced between $800,000–$1 million

Eligibility:

The home must be your principal place of residence
You must live in the home for at least six months
You cannot have previously owned property in Australia

These savings can make a substantial difference when budgeting for your first property in regional NSW.

First Home Owner Grant (New Homes Only)

If you're building a new home or buying a newly constructed property, you may be eligible for the First Home Owner Grant (FHOG) of $10,000.

Who qualifies?

You must be buying a new or substantially renovated home worth less than $750,000
You must live in the home for at least six months
You must not have previously received a FHOG in Australia
This grant is especially valuable in regional areas like Bathurst or Lithgow, where newly built homes are often priced under the $750,000 threshold.

Government Incentives - How a Mortgage Broker in Bathurst or Lithgow Can Help

At Sparks Finance, we understand the local property landscape and work closely with first home buyers to ensure you don’t miss out on government incentives for regional NSW. Whether it’s identifying your eligibility for RFHBG or accessing grants and duty concessions, our team helps you: