Two first home buyers in Adelaide can spend the same amount and walk away tens of thousands of dollars apart. The difference is not their deposit, their lender, or their negotiating skill.
It is whether the home they bought was new or established. South Australia treats those two purchases so differently that the decision often outweighs every other financial choice in the process.
Key Takeaways
Eligible first home buyers pay no stamp duty on a new home in SA, with no property value cap, for contracts from 6 June 2024.
The concession for first home buyers purchasing established homes was abolished from 15 June 2023.
The $15,000 First Home Owner Grant also applies only to new builds, and its value cap has been removed.
SA stamp duty reaches its top rate of 5.5% above $500,000, earlier than most states.
The federal First Home Guarantee caps Adelaide purchases at $900,000 and the rest of SA at $500,000.
Mortgage brokers have owed a statutory best interests duty since January 2021, which bank staff do not.
New Build Versus Established Home
South Australia made a deliberate policy choice in June 2024. It abolished stamp duty entirely for first home buyers building or buying a new home, and removed the property value cap that previously limited the exemption to homes under $650,000.
The exemption covers more than detached houses. It applies to flats, units, townhouses, apartments, off-the-plan purchases, house and land packages and vacant land bought to build on.
Established homes receive nothing. The separate first home buyer concession on established properties was abolished from 15 June 2023, so a first home buyer purchasing an existing house pays the full general rate.
That is unusual even by Australian standards. SA has no owner-occupier concessional rate at any price, unlike Queensland or Western Australia, so there is no middle ground.
What That Looks Like in Numbers
The gap is large enough to change what you can afford. On a $600,000 property the general stamp duty rate is $26,830, and on a $750,000 property it is $35,080.
A first home buyer purchasing a new home at either price pays none of that. Add the $15,000 First Home Owner Grant and the swing between a new and established purchase at $750,000 is roughly $50,000.
The state government's own figures support that. It reported that the median new home bought by a first home buyer in one recent financial year was $766,000, attracting median stamp duty relief of $36,000, leaving buyers around $51,000 better off once the grant was counted.
SA Stamp Duty Bites Earlier Than You Expect
For anyone not eligible for the new home exemption, the rate structure matters. SA runs a nine-bracket progressive scale, and the top rate of 5.5% begins above $500,000.
That threshold is lower than most states. With Adelaide medians now well above it, most buyers without new build eligibility land in the top bracket regardless of what they purchase.
Published median figures vary considerably depending on the source and the measure used. Treat any single headline number with caution and ask for the specific dataset behind it.
The Federal Scheme Sits On Top
State concessions are not the whole picture. The federal First Home Guarantee lets eligible buyers purchase with a smaller deposit, and from 1 October 2025 the property price caps sit at $900,000 for Adelaide and $500,000 for the rest of South Australia.
SA also runs its own low deposit pathway. HomeStart offers a 2% deposit home loan for eligible first home buyers building a home, which is well below what mainstream lenders typically require.
Stacking these correctly is where things get complicated, because eligibility rules differ between schemes and some interact awkwardly.
Finding the best mortgage broker in Adelaide for your situation means finding someone who works through those interactions against your actual numbers rather than describing the schemes in general terms.
What Brokers Are Legally Required to Do
This is worth knowing because it is frequently misunderstood. Since January 2021, mortgage brokers in Australia have owed a statutory best interests duty under the National Consumer Credit Protection Act.
That duty requires a broker to act in your best interests when providing credit assistance. Bank lending staff do not owe it, because they are selling their employer's products rather than providing credit assistance across a panel.
It is a genuine structural difference and a better reason to use a broker than most of the marketing you will read. It does not mean every broker performs equally, and it does not guarantee an outcome.
Ask any broker how many lenders they are accredited with, how they are paid and whether they will review your loan after settlement. Those three answers tell you more than any award badge.
Check their credentials too. A broker should hold an Australian Credit Licence or operate as a credit representative under one, and should be a member of an external dispute resolution scheme.
Conclusion
If you are buying your first home in Adelaide, work out the new build question before you do anything else.
It moves more money than the interest rate you eventually negotiate, and it shapes which suburbs and property types are realistically within reach.
Then check which schemes you qualify for and how they interact, because state and federal programs have different eligibility rules and different caps. Getting that wrong is expensive and largely avoidable.
Whoever you work with, ask about lender panel size, commission structure and post-settlement reviews. Those answers matter more than any headline claim.
Frequently Asked Questions
Do I really pay no stamp duty on a new home in SA? Eligible first home buyers pay no stamp duty on a new home, with no property value cap, for contracts entered into from 6 June 2024. Eligibility conditions apply, so confirm your position with RevenueSA or your broker.
Does the exemption cover apartments and off-the-plan purchases? Yes. The exemption extends to flats, units, townhouses, apartments, off-the-plan purchases, house-and-land packages, and vacant land bought to build on.
What if I want an established home? You will pay the full general rate, since the established home concession ended on 15 June 2023. That does not make it the wrong choice, but it should be priced into your budget from the start.
Can I get the First Home Owner Grant on an established home? No. The $15,000 grant applies to building or buying a new home only, though its property value cap has been removed.
How much deposit do I actually need? It depends on the pathway. The federal First Home Guarantee allows a smaller deposit within the Adelaide price cap, and HomeStart offers a 2% deposit loan for eligible first home buyers building.
Is a broker actually free? Brokers are usually paid commission by the lender rather than a fee by you, though some charge fees in particular circumstances. Ask directly, and ask how commission might differ between lenders.
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