Buying your first home in Queensland just got a whole lot easier.
In a sweeping policy move aimed at easing the burden on aspiring homeowners, newly elected Premier David Crisafulli has announced the elimination of stamp duty for first-home buyers purchasing newly built homes. This reform, set to take effect from May 1, 2025, is expected to save first-time buyers an average of $9,096 on a typical house-and-land package—a game-changer for thousands of Australians dreaming of home ownership.
Why This Matters
Stamp duty has long been one of the most painful upfront costs for buyers in Australia—often adding tens of thousands of dollars to already sky-high property prices. By removing this financial hurdle, the Queensland government is sending a clear message: home ownership should be within reach, not a distant dream.
The reform targets new builds only, aiming not just to help buyers, but also to stimulate housing supply and tackle rising demand. With housing affordability dominating headlines across the country, this is one of the most aggressive state-level reforms in recent years.
What’s Changing?
- First-home buyers who purchase a new home or vacant land to build a home will be eligible for a full transfer duty exemption, bringing the duty cost to zero.
- Buyers can still take advantage of existing concessions—like duty waivers on homes under $700,000, and discounts up to $800,000.
- Vacant residential land up to $500,000 will also continue to qualify for concessions.
- A key restriction has been lifted: first-home buyers can now immediately rent out rooms in their property, as long as they occupy part of the home themselves. Previously, they were required to wait 12 months before doing so.
These changes not only lighten the financial load but also provide flexibility for buyers who want to generate rental income to offset mortgage costs.
Economic Impact and Industry Praise
According to state modelling, this initiative could deliver 800+ additional homes, thanks to increased demand in the building sector. That’s good news for buyers and the broader economy.
The response from the industry has been overwhelmingly positive:
“We expect these changes to impact thousands of young people who want to enter the housing market,” said David Janetzki, Queensland’s Treasurer and Minister for Home Ownership.
Antonia Mercorella, CEO of the Real Estate Institute of Queensland, called the reforms “sensible,” commending the government for “[lowering] the upfront financial hurdles to home ownership.”
What This Means for You
If you're a first-home buyer in Queensland, especially one considering building a new home, this could be the perfect time to act. With stamp duty off the table and greater flexibility in how you use your new home, entering the property market just became significantly more achievable.
Final Thoughts
As housing affordability continues to dominate national headlines, Queensland is setting an example that other states may soon follow. By removing one of the biggest financial roadblocks and opening new doors for younger generations, this reform doesn’t just support individual dreams—it fuels economic growth and boosts housing supply in a time of urgent need.
Whether you're on the verge of buying or just starting to plan, now might be the moment to take the leap into home ownership.
✅ Thinking about buying your first home?
Let me know if you’d like a breakdown of how this policy could apply to you, or if you need a guide to Queensland’s property buying process!