Qld government scraps stamp duty for first home buyers

Eligible first home buyers who purchase homes or residential land after 1 May 2025 will no longer be required to pay stamp duty following the passage of new legislation in Queensland.

Premier David Crisafulli said the reform would enable Queenslanders to save tens of thousands of dollars in upfront fees and enter the housing market sooner.

Across Queensland, the abolishment of stamp duty will save first home buyers an average of $9,906 for a house and land package at median price, resulting in a saving of almost $39,500 in Brisbane North and more than $24,000 in the Toowoomba market.

While there will be no value cap for homes or residential land to be eligible, buyers must use the purchased property as their primary place of residence within one year of settlement for transfer duty costs to be waived.

Additionally, the contract or arrangement for a new home must be dated on or after 1 May 2025 for stamp duty not to be payable.

Buyers who demolish an existing home on a plot of land before moving in will not be eligible for the concession.

Treasurer and Minister for Home Ownership David Janetzki said that stamp duty had hindered Queenslanders from entering the property market, and said the reform was a “commonsense change that will provide real cost-of-living relief”.

“These steps will help first-time buyers and ease record-low vacancy rates while also encouraging new builds and boosting housing supply,” he added.

While buyers must still live in a property they purchase for at least one year, they are no longer restricted from renting out any part of their property for 12 months after purchasing.