First Home (New Home) Concession – A Game-Changer for First-Time Buyers

New stamp duty exemption now available for eligible buyers in Queensland

What’s this all about?

Are you a first home buyer looking to get a foot on the property ladder in Queensland? Then we’ve got great news for you!

As of 1 May 2025, the Queensland Government has rolled out the First Home (New Home) Concession, offering full transfer duty (stamp duty) exemption for eligible buyers purchasing new or substantially renovated homes.

That’s thousands of dollars in upfront savings—money better spent on your new home or reinvested into your financial future.

What counts as a ‘new’ home?

To be eligible, the property you’re buying must be:

  • A brand new home that has never been lived in or sold as a residence, or
  • A substantially renovated home that qualifies under the GST Act, with the seller providing a vendor statement confirming:
    • The sale is a taxable supply;
    • The home hasn’t been lived in since the renovations;
    • Details of renovations carried out.

Who’s eligible for the concession?

To qualify for the First Home (New Home) Concession, you’ll need to:

  • Purchase as an individual, not through a company or trust
  • Be at least 18 years of age
  • Have never owned property anywhere in the world
  • Move into the home with your personal belongings and live there within 12 months of settlement
  • Pay market value for the property

Good to know:
There’s no price cap on the property, and you don’t need to be an Australian citizen or permanent resident. However, foreign buyers may be subject to additional foreign acquirer duty.

Are there conditions after you move in?

Yes—and you’ll want to stick to them to keep your concession:

  • You must not sell or transfer any part of the property before moving in.
  • You can rent part of the property after moving in (from 10 September 2024 onwards), so long as you continue living there.
  • If you sell within 12 months of moving in, a partial concession might still apply.

Failing to meet these conditions may result in the loss of the concession and a reassessment of duty.

Want to estimate your savings?

Use the Queensland Revenue Office’s Transfer Duty Estimator to see how much you could save under the new concession.

Final word

At Capital Properties, we’re here to make sure your property journey starts strong—whether you’re a first home buyer or seasoned investor.

We’ll help you understand your entitlements, secure a great property, and build a strategy tailored to your goals.

Ready to buy your first home? Let’s chat.
Visit capitalproperties.com.au or call our team today.

Please note: This information is subject to change and was accurate at the time of publication.
Last updated: 29 May 2025
Source: Queensland Revenue Office – First Home and New Home Concessions