Do You Know What First Home Buyers Need in QLD?

Buying your first home in Queensland gives you access to a $15,000 grant on new builds and stamp duty concessions that can save you thousands on established properties.

The combination of state incentives and federal support schemes means many first home buyers in Queensland can purchase sooner than they think. Getting the order right matters. You apply for pre-approval first, then make an offer, then claim the grant and concessions at settlement. Understanding what you qualify for before you start looking shapes your budget and your property search.

Queensland First Home Owner Grant: What You Can Claim

The Queensland First Home Owner Grant is $15,000 for new homes valued under $750,000. Contracts signed from 1 July 2026 onwards receive this amount. If you signed a contract between 20 November 2023 and 30 June 2026, the grant was $30,000. The grant does not apply to established homes.

A new home includes a newly built house, a house and land package, or a substantially renovated dwelling that has not been occupied since renovation. You must be 18 or over, an Australian citizen or permanent resident, and you and your partner cannot have previously owned or co-owned a residential property anywhere in Australia. You must move into the property within 12 months of settlement and live there continuously for at least six months.

Consider a buyer purchasing a house and land package in the outer suburbs. The land costs $200,000 and the build contract is $420,000. Total purchase price is $620,000. That buyer qualifies for the $15,000 grant because the property is a new build and sits under the $750,000 cap. The grant is paid after settlement and can be used to offset the mortgage balance or cover early costs like furniture and connection fees.

Stamp Duty Concessions That Change Your Budget

Queensland offers different stamp duty treatment depending on whether you buy an established home or a new build. On established homes, you pay nil transfer duty up to $700,000 and a reduced rate between $700,000 and $800,000. On new builds, you pay no transfer duty at all on residential land regardless of price from 1 May 2025. A partial concession applies to new homes priced between $500,000 and $550,000.

For most first home buyers, the established home concession delivers the biggest immediate saving. Buying an established property at $650,000 would normally attract around $18,000 in transfer duty. Under the first home buyer concession, that duty is waived entirely. The saving goes straight into your available deposit or borrowing buffer.

Using the 5% Deposit Scheme in Queensland

The Australian Government 5% Deposit Scheme lets eligible first home buyers purchase with a 5% deposit without paying lenders mortgage insurance. In Brisbane, the property price cap is $1,000,000. In regional Queensland, caps vary but are generally lower. The scheme is available through a panel of 31 participating lenders and there are no income limits or annual place caps.

You can combine the 5% Deposit Scheme with the Queensland First Home Owner Grant and stamp duty concessions. If you are buying a new build under $750,000, you receive the $15,000 grant, pay no transfer duty, and can apply for finance with just a 5% deposit and no lenders mortgage insurance. That combination reduces both your upfront cash requirement and your ongoing loan repayments.

In a scenario like this, a buyer purchases a newly built townhouse in Logan for $580,000. They save $29,000, which is 5% of the purchase price. They apply through a participating lender under the 5% Deposit Scheme. Housing Australia guarantees the gap between their 5% deposit and the usual 20% threshold. The buyer pays no lenders mortgage insurance, receives the $15,000 grant at settlement, and pays no stamp duty. Their total upfront cost is the deposit, solicitor fees, and building and pest inspections.

How to Structure Your Home Loan Application

Your loan application sits at the centre of your purchase timeline. Lenders assess your income, expenses, existing debts, and savings history. They want to see genuine savings held for at least three months. A gift from a parent can form part of your deposit, but lenders typically require at least 5% to come from your own verified savings.

You choose between a variable interest rate and a fixed interest rate, or a split between both. A variable rate moves with the market and usually comes with an offset account or redraw facility. A fixed rate locks in your repayments for a set period, usually one to five years, but limits your ability to make extra repayments without penalty. Some buyers fix a portion and leave the rest variable to balance certainty with flexibility.

When applying for a home loan, gather your payslips for the past three months, tax returns if you are self-employed, bank statements showing your savings pattern, and details of any other debts such as car loans or credit cards. Lenders will also want to see your employment contract or a letter from your employer. Once your application is assessed, the lender issues conditional approval, which becomes unconditional after a valuation and final checks.

What About Help to Buy?

Help to Buy is a shared equity scheme where the Australian Government contributes up to 40% of the purchase price for a new home or up to 30% for an existing home. In return, the government holds an equivalent equity share. You need a minimum 2% deposit. Income limits apply: $100,000 for individuals and $160,000 for joint applicants. Property price caps vary by location. The scheme is available in Queensland but cannot be combined with the 5% Deposit Scheme.

If your income sits under the cap and you have a small deposit, Help to Buy can bring a purchase within reach. You take out a smaller mortgage because the government contribution reduces the amount you need to borrow. You pay no rent or interest on the government share, but when you sell or refinance, the government receives its proportional share of the sale proceeds.

Choosing Between New and Established Homes

The $15,000 grant and full stamp duty exemption on new builds make them financially attractive, but established homes in Queensland still qualify for the transfer duty concession up to $800,000 and give you access to locations closer to the city where new stock is limited. The decision comes down to where you want to live and what stage of life you are in.

New builds take time. You sign a contract, wait for construction, then settle months later. You are not paying rent and a mortgage at the same time during construction if you structure your finance correctly, but you do need patience. Established homes settle faster, usually within 30 to 60 days, and you can see exactly what you are buying. You miss out on the grant, but you may gain on location and settlement speed.

Call one of our team or book an appointment at a time that works for you. We will walk through your eligibility for first home owner grants, calculate your borrowing capacity, and help structure your application so you are ready to move when you find the right property.

Frequently Asked Questions