From next year there will be price limits on homes that can be bought under the First Home Owners Grant Scheme.

Previously, no house has been too expensive to be eligible for the grant.

But starting next year, states and territories will have the power to set price caps.

So far New South Wales, Victoria, Queensland, Western Australia and the Northern Territory have specified the top price.

The highest price is in Queensland, with $1 million homes still eligible.

The lowest is in Victoria setting the bar at $600,000.

New South Wales, Western Australia and The Northern Territory have set theirs at $750,000.

The home buyers boost, which increased the grant as part of the Federal Government's stimulus package, also ends at the end of the year.