What First Home Buyers in South Australia Need to Know

What Support is Available for First Home Buyers in South Australia

South Australia gives first home buyers a $15,000 grant for new builds with no price cap, plus full stamp duty exemption on new homes and vacant land. On established homes, you pay no transfer duty up to $700,000 and a reduced rate between $700,000 and $800,000. The Australian Government 5% Deposit Scheme lets you buy with a 5% deposit across the entire participating lender panel without lenders mortgage insurance.

As a FIFO worker, your income structure sits outside what most lenders expect. Roster gaps, allowances treated inconsistently, and fly-in patterns that look unstable to standard credit policy all shape how much you can borrow and which lenders will approve you. The support programs work the same way for FIFO and residential workers, but the application process requires lenders who know how to assess your income properly.

Consider a mobile plant operator in the third year of a permanent roster. Base income sits at $90,000, allowances add another $28,000, and take-home after tax and deductions is close to $8,500 a month. They want to buy vacant land in the northern suburbs and build. Land costs $240,000, the build contract is $410,000, total $650,000. With a 5% deposit of $32,500 through the Australian Government 5% Deposit Scheme, no lenders mortgage insurance applies. The $15,000 South Australian grant reduces what they need to save. Full stamp duty exemption applies because it's a new build on vacant land. Their out-of-pocket costs are deposit, legals, building inspections, and connection fees. The lender needs 12 months of consistent roster history and clear proof that allowances are ongoing and non-discretionary.

How the South Australian First Home Owner Grant Works

You get $15,000 if you're buying or building a new home and you meet residency and occupancy rules. No property price cap applies for contracts entered into from 6 June 2024 onward. The grant doesn't apply to established homes.

A new home means a dwelling that has not been previously occupied or sold as a place of residence. It includes a home you build yourself, a home built by a builder under contract, or a new home purchased from a developer or builder. Substantially renovated homes can qualify if the renovation brings more than half the floor area back to new condition, but RevenueSA applies that test strictly.

You must be 18 or over, an Australian citizen or permanent resident, and you or your partner cannot have previously received a first home owner grant in any state or territory. You must move in within 12 months of settlement or completion and live there as your principal place of residence for a continuous period of six months. If you're buying with another person, at least one of you must be a first home buyer. The other person can have owned property before, but they cannot have claimed a first home owner grant.

Stamp Duty Concessions for First Home Buyers

On new homes and vacant land, no transfer duty applies at any price. On established homes, full exemption applies up to $700,000. Between $700,000 and $800,000, a reduced rate applies on the amount above $700,000.

The difference between the concession on new builds and established homes is significant. For an established home priced at $750,000, duty on the amount between $700,000 and $800,000 is calculated at a reduced first home buyer rate. For a new home or vacant land at $750,000, no duty applies. The exemption on new builds was expanded in mid-2025 and applies to contracts for residential land or new homes entered into from 1 May 2025.

The established home concession applies to the first home you buy to live in. You must occupy it as your principal place of residence for 12 months starting within 12 months of settlement. If you purchase vacant land with the concession and decide not to build or not to occupy the home once built, RevenueSA can claw back the concession and charge full duty plus interest.

Using the Australian Government 5% Deposit Scheme

The 5% Deposit Scheme has no income cap, no annual place limit, and no lenders mortgage insurance. Housing Australia guarantees the gap between your deposit and 20% of the property value. You apply through a participating lender, not directly through Housing Australia.

Property price caps apply. In Adelaide, the cap is $750,000. Regional South Australia has separate caps depending on location. Most of the Yorke Peninsula, the Fleurieu, and northern regional centres fall under the regional cap. Check the Housing Australia map before you start looking because the cap determines which properties you can target.

Lenders who participate in the scheme treat FIFO income differently. Some will only assess base salary. Others will include allowances if you can prove they're non-discretionary and ongoing. The difference in what you can borrow between a lender who assesses $90,000 and one who assesses $118,000 is the difference between being approved and being declined. You need a broker who knows which lenders on the 5% Deposit Scheme panel will work with your roster structure.

Help to Buy and Shared Equity Programs

Help to Buy lets the Australian Government take up to 30% equity in an established home or up to 40% in a new build. You contribute a minimum 2% deposit. Income limits are $100,000 for singles and $160,000 for couples or single parents. Property price caps are location-specific and lower than the 5% Deposit Scheme caps.

You cannot combine Help to Buy with the 5% Deposit Scheme, but you can use it alongside the South Australian first home owner grant and stamp duty concessions if you're buying a new home. The Government holds equity in the property and receives that percentage of any capital gain or loss when you sell or refinance. You can buy the Government out over time, but you'll need a formal valuation and enough equity or cash to pay out their share.

South Australia also runs a shared equity program through HomeStart. Eligible buyers can purchase with a 5% deposit. The Government and HomeStart contribute up to 25% of the purchase price, capped at $200,000. That program has separate income and property price limits and is not part of the Help to Buy scheme. You can't stack both.

Low Deposit Options Beyond Government Schemes

If you don't qualify for a government-backed deposit scheme or the property you want sits above the price cap, you can still buy with a low deposit using lenders mortgage insurance. Some lenders offer LMI waivers or discounts for certain occupations, though FIFO workers don't typically fall into those categories unless you're also a qualified professional like an engineer or geologist.

Lenders mortgage insurance protects the lender if you default. It's a one-off premium added to your loan, usually capitalised rather than paid upfront. On a loan of $600,000 with a 10% deposit, LMI might cost $15,000 to $20,000 depending on the lender and your income profile. That cost reduces your borrowing capacity because the lender factors it into serviceability.

Some FIFO workers qualify for guarantor loans, where a parent or family member uses equity in their own property to cover part or all of your deposit. You avoid LMI because the lender holds security over both properties. The guarantor is liable for the amount they guarantee, not the full loan. Once you build enough equity through repayments or capital growth, the guarantee can be released.

Combining the Grant, Stamp Duty Exemption, and 5% Deposit Scheme

You can layer the South Australian first home owner grant, the stamp duty concession, and the 5% Deposit Scheme on the same purchase if you're buying or building a new home. That combination puts the most support into a single transaction.

Consider a diesel mechanic on a permanent FIFO roster earning $115,000 including allowances. She's buying a house and land package in the northern growth corridor. Land is $200,000, the build is $430,000, total $630,000. She uses the 5% Deposit Scheme with a deposit of $31,500. No LMI applies. She receives the $15,000 first home owner grant, reducing her cash outlay. No stamp duty applies because it's a new build on vacant land. Her total upfront cost is deposit plus legals and inspections, less the grant. She's buying in South Australia, so no additional state levy or foreign buyer surcharge applies. The loan is $598,500. Monthly repayments depend on the rate the lender offers, but the structure is identical to any other loan once approved.

Getting Your Application Right

Lenders assess FIFO income by looking at payslips, tax returns, employer letters, and roster documents. They want to see consistency over 12 months minimum, proof that allowances are written into your contract, and evidence that your roster is permanent rather than casual. If you've been stood down, changed rosters, or moved employers in the past year, expect more questions.

Some lenders assess only your base. Others assess base plus allowances minus a discount for the time you're off-site. Others assess gross income if you can prove allowances are guaranteed. The lender you choose determines how much you can borrow and whether you get approved at all. Most FIFO workers don't know which lenders will work with their income until they've already been declined.

Getting pre-approval before you start looking tells you exactly what you can borrow and which properties fall within your range. Pre-approval locks in a rate for a set period, usually 90 days, and gives you a conditional approval subject to valuation and final checks. It doesn't guarantee final approval, but it filters out properties you can't afford and lenders who won't assess your income properly.

Call one of our team or book an appointment at a time that works for you. We'll run through your roster, income structure, and what you're looking to buy, then match you with lenders who know how to assess FIFO workers in South Australia.

Frequently Asked Questions