By Chaice Paterson, CEO & Founder, Low Deposit Homes | Updated June 2026

If you’re a New Zealand citizen already living in Victoria on the Special Category Visa (subclass 444) and looking at a first home, you qualify for almost every first home buyer scheme an Australian permanent resident does. You can use the federal 5% Deposit Scheme (5% deposit, zero LMI, ~$20,000-$25,000 saved on a typical Victorian purchase), capture the Victorian stamp duty FHB exemption (full under $600,000 dutiable value, sliding to $750,000 — and at construction-stage signing only the land portion counts), and the $10,000 Victorian FHOG if your package is under $750,000 — genuinely available in Melbourne’s western and northern corridors. The one exclusion is Help to Buy (citizens only). This is the VIC-specific companion to our NZ moving guide.

What’s my SCV 444 status worth in Victoria?

Since 21 June 2024, SCV 444 holders are treated as permanent residents for the federal Home Guarantee Scheme, and Victoria treats SCV holders as PR-equivalent for state grants and exemptions. You qualify for: the federal 5% Deposit Scheme; the Victorian $10,000 FHOG (package under $750,000); the Victorian stamp duty FHB exemption (full under $600,000 dutiable, sliding to $750,000); the Family Home Guarantee (single parents); the First Home Super Saver Scheme; and Trans-Tasman KiwiSaver portability. Excluded: Help to Buy.

How does the 5% Deposit Scheme work for me in Victoria?

Victorian price caps: $950,000 for Melbourne metro (Werribee, Tarneit, Wyndham Vale, Truganina, Craigieburn, Mickleham, Donnybrook, Cranbourne, Pakenham, Officer, Clyde North) plus Geelong; $650,000 for the rest of the state. Every active LDH Victorian corridor sits in the $950K zone. On a $700,000 Melbourne West new build your 5% deposit is $35,000, and the ~$20,000-$25,000 LMI you’d otherwise pay is removed.

How does the Victorian stamp duty exemption actually work for new builds?

Full exemption under $600,000 dutiable value; a sliding concession from $600,000 to $750,000; none above $750,000. The key for new builds: at construction-stage signing (how house-and-land contracts work — you sign the land contract while the build is still in progress), only the land portion counts toward dutiable value. So on a $700,000 house-and-land where the land is $380,000 and the build is $320,000, the dutiable value is $380,000 — under the $600,000 threshold, so the full exemption applies, saving roughly $15,000-$18,000.

Which Victorian corridors fit my budget as a Kiwi first home buyer?

Melbourne West (Werribee, Tarneit, Wyndham Vale, Truganina): $680,000-$750,000, under the $750K FHOG cap (captures the $10K grant) and well under the $950K 5% Scheme cap — the strongest entry-price corridor. Melbourne North (Craigieburn, Mickleham, Donnybrook): $700,000-$900,000, a mix of under- and over-$750K packages. Melbourne South-East (Cranbourne, Pakenham, Officer, Clyde North): $750,000-$950,000, mostly above the FHOG cap but under the 5% Scheme cap. Full detail in the Victoria first home buyer guide.

What does the scheme stack look like in practice?

Take an illustrative Kiwi couple in Melbourne — both engineers on the SCV 444, combined income $185,000, $45,000 savings, $110,000 combined KiwiSaver still in NZ, one child — who came to us 12 months out. The plan: initiate the KiwiSaver transfer immediately; salary-sacrifice into super to layer FHSS-eligible contributions; confirm FHSS eligibility via myGov; pre-approve once 6 months of payslips are in; target a $720K-$745K Werribee or Tarneit new build (under the $750K FHOG cap); sign on the next release; notify the ATO within 90 days for FHSS release. The combined stack on a $740,000 Werribee new build: 5% Scheme (zero LMI, ~$22K saved) + VIC stamp duty exemption on the ~$390K land portion (~$16K saved) + $10,000 FHOG + ~$32K combined FHSS release Year 1 = approximately $80,000 of value before the build starts.

Frequently asked questions

Q: Can I capture the FHOG AND a bigger home?
Usually not in the same package — the FHOG cap is $750,000 total. It’s a commercial call: $10K of FHOG cash vs ~$100K more home.

Q: Does the VIC stamp duty exemption really only count the land portion at construction-stage signing?
Yes, for house-and-land combinations signed at the construction stage — the State Revenue Office’s standard interpretation.

Q: What’s the difference between Help to Buy and the 5% Scheme for me as a Kiwi?
Help to Buy isn’t available to you (citizens only). The 5% Scheme is (since 21 June 2024) and delivers comparable outcomes on a properly-priced package.

Q: Can I buy in regional Victoria?
Yes — the 5% Scheme regional cap is Geelong only ($650K elsewhere), and FHOG, stamp duty exemption and FHSS all work the same.

Start your Australian first home buyer journey

Book a free 15-minute consultation — book your free call | 1800 920 172. Check exactly what you qualify for with the free Grant Eligibility Calculator.

Low Deposit Homes operates under Winning Homes Australia Pty Ltd (ACN 633 321 758). All calculations are indicative.