There’s good news for hopeful first-home buyers in the Sunshine State - big changes are coming to stamp duty that could help make the dream of home ownership much more achievable.
New Queensland Premier David Crisafulli has unveiled a plan that will scrap stamp duty entirely for eligible first-home buyers building a new property, starting from May 1, 2025.
“We are unlocking more homes for more Queenslanders, more quickly. For far too long, stalling housing approvals and skyrocketing housing prices have shut the door on Queenslanders walking into their own home.” Queensland Premier, David Crisafulli.
What’s Changing?
As of May 1, 2025, first-home buyers who choose to build new will be exempt from paying stamp duty - a move designed to support housing supply while helping more Queenslanders get onto the property ladder.
This new policy builds on existing incentives. Previously, stamp duty was waived for eligible first-home buyers purchasing homes under $700,000, with discounts applying up to $800,000. A concessional rate also existed for those buying vacant land under $500,000.
The key difference? These new changes apply only to new builds - making it an ideal time to consider a house and land package.
The Crisafulli government estimates that scrapping stamp duty for first-home buyers building a new home could save around:
- $24,730 in a regional city like Toowoomba*
- $29,500 in Brisbane’s eastern suburbs*
- $32,569 on the Gold Coast*
- $33,851 on the Sunshine Coast*
*These savings are based on the median price of new home and land packages in each location.
With around 3,000 first-home buyers expected to take up the new offer from May 1, Treasurer and Minister for Home Ownership David Janetzki backed the Premier’s announcement - highlighting it as a direct response to widespread public feedback that stamp duty is a major hurdle to home ownership amid ongoing cost-of-living pressures.
“Queenslanders are losing hope in the Great Australian Dream of home ownership. Scrapping first home buyer stamp duty on new builds provides real savings and puts the Great Australian Dream back within reach.” Treasurer and Minister for Home Ownership, David Janetzki.
More Flexibility: Rent Out Spare Rooms Sooner
In another win for first-home buyers, the government has also removed a restriction that previously stopped new owners from subletting within the first 12 months.
Now, as long as the first-home buyer lives in the property, they’re free to rent out spare rooms from day one - offering a helpful way to manage mortgage repayments.
The Real Estate Institute of Queensland (REIQ) has welcomed this change, saying it provides new pathways for both homeowners and renters.
“This initiative is a win-win for both homeowners and renters in Queensland,” said REIQ CEO Antonia Mercorella. “By allowing homeowners to rent out spare rooms, this initiative not only supports first homeowners in managing their mortgage costs but also taps new housing options for renters.”
Mercorella noted that around 21,000 first-home buyers were previously restricted by this rule. “Even a modest 3–5% of these homes being rented out could provide a meaningful boost to the rental market,” she said.
Could the Changes Go Even Further?
There are already calls to expand the policy. Mercorella has urged the government to consider offering stamp duty exemptions for over-55s who are looking to downsize—freeing up larger homes for younger families and encouraging more efficient use of housing stock.
“Offering a stamp duty exemption will remove the financial barrier for those older Australians who are minded to downsize, leading to a greater supply of larger homes within the housing market and generational changes for houses and neighbourhoods,” she told the ABC.
What This Means for You
If you’re a first-home buyer in Queensland considering building new, this could be the perfect time to take the leap. With thousands of dollars in potential savings on offer, more flexibility to generate rental income, and fresh government support behind you, building your dream home just became a little more achievable.
Want to know more about building new with Metricon? Our team is here to help you navigate your options and get you started on the right foot. Contact us today.
