If you’re a first home buyer in Queensland, you’ve picked an exciting time to jump into the market. With updated transfer duty concessions now in place, you could save thousands of dollars — potentially making that dream of owning your first home much more achievable.
Let’s break it down in simple terms.
What is Transfer Duty?
Transfer duty (aka “stamp duty”) is a tax you usually pay when buying property. And let’s be real—it’s often a hidden cost that catches people off guard. But if you’re buying your very first home, Queensland has some great news for you: they’re cutting you a serious break.
Changes to First Home Buyer Concessions:
First home buyers who are purchasing a brand new home (that’s never been lived in before) won’t pay any transfer duty at all—no matter the price. That’s a major win and can save you roughly $9,000 or more.
If you’re buying an existing home, the concessions have also changed.. You can now claim:
A full concession if the home costs $700,000 or less; or
A partial concession for homes priced up to $799,999.
The full benefit could knock up to $17,350 off your upfront costs. That’s money you could put toward moving, furniture—or even a holiday to celebrate!
No concession applies once you hit $800,000 and above.
Do You Qualify?
Here’s what you’ll need to tick off to be eligible for the first home buyer concessions:
You’re at least 18 years old;
You’ve never owned residential property anywhere in the world;
You plan to live in the home within 12 months of settlement and stay for at least a year; and
If it’s a new home, it must be brand new—never sold or lived in.
If that sounds like you, you’re in a great position to take advantage of this help.
How to Apply:
Claiming your concession is pretty straightforward. When you’re completing your purchase paperwork just advise your conveyancing solicitor that you are a first home buyer and they will prepare the required Transfer Duty Concession Form for you.
Bonus: First Home Owner Grant:
And don’t forget—you might also be eligible for the First Home Owner Grant, which offers either $15,000 or $30,000 toward buying or building a new home (up to $750,000). That’s extra cash in your pocket at a time when every dollar counts.
Final Thoughts:
Buying your first home is a huge milestone—and it comes with a mix of excitement and stress. But with these new concessions, the Queensland Government is making it easier to take that leap.
So if you’ve been sitting on the fence, 2025 might just be the perfect time to make your move.