If you're thinking about buying your first home in Queensland, you're in for some good news. The 2024-25 Queensland State Budget has rolled out major changes to stamp duty, aiming to make homeownership a little more achievable, especially for first home buyers.
A quick refresher: What is stamp duty?
Stamp duty is a government tax you usually have to pay when you buy a home, land, or investment property. In Queensland, it’s officially called transfer duty. The amount you owe depends on:
The property’s value
Whether you’re eligible for any concessions (like being a first home buyer)
Whether it’s a new or established property
You can dive deeper into how stamp duty usually works in Queensland in: How does stamp duty work in Queensland?
What's new: Key stamp duty changes
The Queensland Government has announced a $360 million housing affordability package to support buyers over the next four years. Here's what’s changing:
1. Higher thresholds for first home buyers
From June 2024:
| Old Thresholds | New Thresholds |
Full Stamp Duty Exemption (Homes) | Up to $500,000 | Up to $700,000 |
Partial Stamp Duty Concessions (Homes) | $500,000 to $550,000 | $700,000 to $800,000 |
Full Exemption (Vacant Land) | Up to $250,000 | Up to $350,000 |
Partial Concessions (Vacant Land) | $250,000 to $400,000 | $350,000 to $500,000 |
Source: Queensland Government 2024-25 Budget Overview
This means first home buyers will save thousands on upfront costs, giving you a better shot at getting into the market sooner.
2. No stamp duty on new homes for first home buyers
Starting May 2025, if you’re buying a brand-new home or a substantially renovated property, you’ll pay zero stamp duty, no matter the price.
This incentive is designed to boost new housing supply and make it easier for first-time buyers to break into the market.
3. Rent-a-room policy: More flexibility for first home buyers
Under the current rules, if you rent out part of your home within the first year of owning it, you could lose your stamp duty concession.
That’s changing from December 2024.
First home buyers in Queensland will now be allowed to rent out a room without forfeiting their stamp duty benefits, giving you extra financial breathing room while still owning your home.
4. Incentives for eco-friendly homes
Love a green home? Good news.
The Queensland Government will introduce additional transfer duty concessions for buyers who purchase properties that meet eco-friendly standards. More details are expected later in 2025, but it’s clear the focus is on rewarding energy-efficient, sustainable living.
Why these changes matter
The Queensland Government expects around 10,000 first home buyers to benefit every year from these new measures.
This could mean:
Lower upfront costs
More opportunities to buy a bigger or better home
Increased demand for brand-new, energy-efficient properties
And overall, it’s a big step towards making housing more affordable for Australians starting their property journey.
What this means for you
If you’re a first home buyer, these changes could mean big savings on upfront costs, helping you get into your home sooner and with more breathing room.
It’s a game-changer, but navigating stamp duty, home loan approvals, and finding the right property can still feel overwhelming.
That’s where Aussie comes in.
Our Aussie Brokers are experts at helping you:
Understand exactly what you’re eligible for
Find the right home loan
Access tools like our Stamp Duty Calculator to estimate your costs
Guide you through the buying process from start to finish
We’re in your corner, every step of the way.
Ready to make your move?
With these new changes, 2025 could be a great time to take the next step towards homeownership in Queensland.
Talk to an Aussie Broker today and let’s unlock the possibilities together.