Exciting news for first home buyers in Queensland.

From 1 May 2025, new legislation will come into effect offering full transfer duty concessions (commonly known as stamp duty) to eligible first home buyers purchasing either a new home or vacant land to build their home.

This change aims to ease the financial burden on first-time buyers and improve housing accessibility for Australians looking to enter the property market.

What’s Changing?

Currently, transfer duty is calculated based on the purchase price of a property, with concessions available for first home buyers under certain thresholds. However, from 1 May 2025, eligible buyers purchasing:

  • A newly built home, or
  • Vacant land with the intention to build a new home may be exempt from paying transfer duty altogether.

Who Is Eligible?

To qualify for the full concession:

  • You must be a first home buyer
  • The purchase must occur on or after 1 May 2025
  • The property must be a new home or vacant land
  • Other eligibility criteria may still apply
    More detailed requirements will be released closer to the rollout date. For clarity and guidance, we recommend speaking with a legal professional.

 

Why This Matters

Transfer duty can add thousands to the cost of buying a home. This new concession could save first home buyers a significant amount, helping more Australians break into the property market.

We assist first home buyers through every stage of the purchase process, from reviewing contracts to settlement. Planning to buy in 2025? Contact us to see how this change could benefit you.