Queensland's New Home Buyer Stamp Duty Changes

Here’s what you need to know:

From 1 May 2025, Queensland has introduced a significant change to its property tax system, offering substantial savings for first-time home buyers. This move aims to make homeownership more accessible and reduce the financial barriers for those entering the property market.

What's Changed?

Previously, first-time buyers in Queensland could receive stamp duty concessions for properties under certain thresholds. Now, the government has abolished stamp duty entirely for eligible first-time buyers purchasing new homes or vacant land to build a home. This means no stamp duty is payable, regardless of the property's value.

How Much Can You Save?

For many first-time buyers, this change translates to significant savings. For instance, on a median-priced house and land package in Queensland, buyers can save an average of $9,096.

Who's Eligible?

To qualify for the full stamp duty concession, you must:

• Be a first-time buyer.

• Purchase a new home or vacant land to build a home.

• Use the property as your primary place of residence.

• Enter into a contract on or after 1 May 2025.

There is no cap on the property's value, making this concession accessible to a broader range of buyers .

What About Existing Homes?

The stamp duty concession applies only to new homes and vacant land for building new homes. Purchases of established homes do not qualify for this concession.

How to Apply

Your application must be submitted as part of the property settlement process and we assist you to complete the paperwork for submission.

Key Takeaways

• No stamp duty for eligible first-time buyers purchasing new homes or vacant land.

• Significant savings on upfront costs, making homeownership more attainable.

• No property value cap, broadening access to the concession.

• Applies only to new properties; established homes are excluded.

This reform is a welcome change for many aspiring homeowners in Queensland, offering a clearer path to property ownership. If you have any questions or need assistance navigating the application process, get in touch with our friendly property team!