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First home buyer eligibility in McMahons Point (2060)

First home buyer assistance in NSW is structured around price thresholds that have not kept pace with Sydney property prices in many postcodes. In McMahons Point (2060), understanding whether the suburb's typical sale prices fall inside or outside the concession range is a practical starting point for budget planning. The card below also covers the First Home Guarantee (federal) and the NSW Shared Equity Home Buyer Helper scheme where relevant.

Can I afford McMahons Point?

First-home buyer eligibility

At $1,750,000, here’s which schemes you can use in McMahons Point. Drag to test other budgets.

Purchase price
$1.75M
$500k$2M
These thresholds are for FY2025-26. Caps refresh each July - verify before signing.

Stamp duty discount (FHBAS)

Not eligible
$78,659 duty

Properties at or above $1,000,000 do not qualify for FHB stamp duty relief in NSW.

Revenue NSW →See all NSW suburbs that fit this scheme →

$10,000 grant for new builds (FHOG)

Not eligible
Not eligible

FHOG covers new homes up to $750,000. This price is above the cap.

Revenue NSW →See all NSW suburbs that fit this scheme →

5% deposit, no LMI (First Home Guarantee)

Not eligible
Above $1.5M cap

Above the $1,500,000 NSW price cap for this postcode.

Housing Australia →See all NSW suburbs that fit this scheme →

2% deposit, shared equity (Help to Buy)

Not eligible
Above $1.5M cap

Above the $1,500,000 NSW price cap for this postcode. Subject to income caps ($100,000 single, $160,000 joint) and Australian citizenship.

Treasury →See all NSW suburbs that fit this scheme →
If no scheme applies
$78,659standard duty
Sources: Revenue NSW (FHBAS, FHOG, standard duty), Housing Australia (First Home Guarantee),Treasury (Help to Buy). FYApr 2026 thresholds. Caps refresh each July; verify before signing. Not financial advice.

If median prices in McMahons Point consistently exceed $1,000,000, first home buyers will typically pay full stamp duty, approximately 4 to 4.5 percent of the purchase price at that level. On a $1.1M purchase, that is around $44,000 to $50,000 in additional upfront cost. This does not rule McMahons Point out as a first purchase, but it needs to be factored into your deposit and savings plan alongside legal costs and building inspections.

First home buyer eligibility in nearby suburbs

Cammeray 2062Cremorne 2090Crows Nest 2065Kirribilli 2061Lavender Bay 2060Neutral Bay 2089

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