First home buyer benefits are only available on newly built homes only, benefits vary in each state:
First Home – New Home scheme
Eligible purchaser buying a vacant block of residential land to build their home will pay no duty on vacant land valued up to $350,000, and will receive concessions for vacant land valued between $350,000 and $450, 000.
For contracts entered into on or after 1 July 2013, eligibility for the Grant will be limited to buyers of new homes.
For contracts entered into on or after 1 July 2013 to build or purchase a new home, a payment of up to $10,000 is available for eligible first home buyers. For contracts entered into prior to 1 July 2013, a payment of up to $7000 is payable to eligible first home buyers. This grant is not means-tested nor is it restricted by the price of the property for contracts entered into prior to 1 January 2010.
For contracts entered into on or after 1 January 2010, the grant will only be payable where the price of the property or construction of the home does not exceed $750,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land.