In short: GNT Finance arranges home loans throughout the Australian Capital Territory by phone, video and e-signature, with a national lender panel and Nepali-speaking service. The First Home Guarantee cap in the ACT is $1,000,000, and the territory's income-tested Home Buyer Concession Scheme can reduce duty to nil for eligible buyers, though there is no separate First Home Owner Grant. No cost to you for our home-loan service in most cases.
The ACT is effectively one city with one set of rules, and those rules differ from every state. There is no separate grant, duty relief is income-tested rather than price-tested, land is held under Crown lease rather than freehold, and the territory has been phasing duty down in favour of higher general rates for many years. From Melbourne we help public servants, defence members, academics and investors work through it.
ACT home buyer rules at a glance
| Measure | Rule (at the time of writing) |
|---|---|
| Home Buyer Concession Scheme | Income-tested; can reduce duty to nil for eligible buyers who have not owned property recently |
| First Home Owner Grant | None; the concession scheme replaced it |
| First Home Guarantee cap | $1,000,000 for the whole territory |
| Land tax | Applies to investment properties, with a surcharge for foreign owners |
Because the concession is income-tested, a couple on high public-service salaries may not qualify even for a modest home, while a single buyer on a moderate income can buy a $900,000 townhouse with no duty. The income thresholds and the required holding period change with each territory budget, so confirm the current scheme with the ACT Revenue Office. Our stamp duty calculator covers the standard ACT scale for buyers outside the concession.
One cap for the whole territory
Housing Australia treats the entire ACT as a capital city area with a single $1,000,000 cap. That is high relative to Canberra's median house price and covers most of the territory's housing, including new townhouses in Gungahlin and the Molonglo Valley and established homes across Belconnen, Tuggeranong and Woden. Other federal conditions apply: citizen or permanent resident, 18 or over, owner-occupier and no property owned in Australia in the last 10 years. See our First Home Guarantee guide and the Canberra mortgage broker page.
Lender policy notes for the ACT
- Crown leasehold: ACT residential land is held on 99-year Crown leases rather than freehold. Every lender on our panel accepts it as standard security, and it makes no practical difference to the loan.
- Apartments: Canberra has built a large volume of apartments in Belconnen, Gungahlin, Woden and the inner north over the past decade. Some lenders apply minimum floor areas and lower LVRs to high-density buildings, and valuers watch supply closely. See buying off the plan.
- Public service income: permanent APS employment is treated as stable, and lenders will generally accept a recent promotion or transfer. Non-ongoing contracts and labour-hire arrangements need a lender comfortable with contract income.
- Defence: ADFA, Duntroon and HMAS Harman bring defence members to Canberra on postings; most lenders count rental and posting allowances in full or in part.
- Cross-border: Queanbeyan, Googong, Jerrabomberra and Bungendore are in New South Wales, with NSW duty, NSW grants and the regional NSW guarantee cap. Buyers comparing across the border need both sets of rules.
Worked example: a first home buyer in Gungahlin
Say you buy an $800,000 new townhouse in Throsby as your first home.
- Duty: potentially nil under the Home Buyer Concession Scheme if your household income sits within the current threshold, otherwise the standard ACT scale applies. We calculate both before you sign.
- Deposit under the First Home Guarantee: 5%, or $40,000. No LMI.
- Loan: $760,000. For illustration, at 6.00% p.a. over 30 years the repayment is about $4,557 a month.
The lender assesses that repayment at the actual rate plus 3 percentage points, so your income needs to service roughly $6,100 a month in the bank's calculation. Our borrowing power calculator applies the buffer.
Investors and interstate buyers
Canberra's stable public-sector tenant base makes it a steady rental market, and its land tax on investment properties is assessed differently from the states. Melbourne investors typically release equity from their existing home to fund the deposit, and we model the result in the investment property cashflow calculator. See investment property loans and, for anyone who moves interstate on a posting, our bridging loans page.
Frequently asked questions
Is there a First Home Owner Grant in the ACT?
No. The ACT replaced its grant with the Home Buyer Concession Scheme, which reduces or removes duty for eligible buyers based on household income rather than the property price. If you qualify, the duty saving on an $800,000 home is worth considerably more than a $10,000 grant would be. Confirm the current income thresholds with the ACT Revenue Office.
How does the ACT Home Buyer Concession Scheme work?
At the time of writing, buyers whose household income is under the current threshold, and who have not owned property in a recent period, can have their duty reduced to nil on a home of any value. The income test looks at all buyers on the contract. Because the threshold moves with each budget, we check it at the time you apply rather than relying on last year's figure.
Does the $1,000,000 First Home Guarantee cap cover all of Canberra?
Yes. Housing Australia applies a single $1,000,000 cap across the whole ACT. That covers nearly all first-home purchases in the territory, from apartments in Braddon to houses in Tuggeranong. If you buy across the border in Queanbeyan or Googong, the property is in New South Wales and the regional NSW cap of $800,000 applies instead.
Does Crown leasehold affect my home loan?
No. Every residential block in the ACT is held on a 99-year Crown lease, and lenders treat it exactly as they treat freehold elsewhere. Your conveyancer will explain the lease terms, including any building covenants, but the loan structure, LVR and interest rate are unaffected. The only time leasehold matters to lenders is on rural or commercial leases with unusual conditions.
Will I get a loan on a non-ongoing APS contract?
Usually, yes. Lenders like the Australian Public Service as an employer, and most will accept non-ongoing contracts with a reasonable term remaining or a history of renewals. Labour-hire and contractor arrangements are treated case by case. We match your employment situation with the lender whose policy suits it, which is where a broker earns their place.
Talk to GNT Finance
Buying your first home in Gungahlin, upgrading in Woden, or investing in Canberra from Melbourne? We compare lenders, apply the ACT concession rules and manage the loan by phone and video. Book a free consultation or call 0426 403 703.
Written by Gorakh Timilsina
Founder, CEO & Senior Mortgage Consultant at GNT Finance. Gorakh started as a broker assistant, spent years as a senior credit officer assessing loan applications, and now helps Melbourne families get the right loan approved. English, Nepali and Hindi spoken.