There’s reason to celebrate for first-time buyers with stamp duty no longer payable on new homes in Queensland
The change, which came into effect on 1 May 2025, means that if you’re a first-time buyer and buying a new home or vacant land, you won’t have to pay a cent of stamp duty.
That saves almost $40,000 on the average Brisbane house and land package.
The incentive, introduced by the State Government, is designed to boost home ownership. Queensland currently has the lowest home ownership rate in the country at 63.5%.
Who is eligible for the stamp duty concession
To be eligible for the concession, a buyer must:
- be legally acquiring the property as an individual
- have never claimed the first home vacant land concession
- have never held an interest in another residence anywhere in Australia or overseas
- be at least 18 years of age
- move into it with your personal belongings and live there on a daily basis within 1 year of settlement (this time cannot be extended)
- meet certain requirements after you claim the concession
- be paying market value
- provide a vendor statement as evidence that the home is a new home or substantially renovated home.
Bravo Homes founder and director Paul Merritt welcomed the announcement:
“At Bravo, we specialise in house and land packages across South East Queensland. That means we see first-hand how stamp duty creates unexpected additional costs with the potential to lock people out of their first home.
“This announcement comes at a great time because a tremendous amount of stock is coming onto the market over the next 12 months.
“Without stamp duty to pay, the dream of home ownership just became more of reality for thousands of first-time buyers.”
Check out the current range of Bravo house and land packages here. Can’t see what you’re looking for? Reach out to us directly so we can discuss your new home needs.