First home concessions QLD: stamp duty concessions and more

First home concessions Queensland (QLD): everything you need to know about stamp duty, First Home Owners Grant (FHOG), and more.

First home concessions QLD: stamp duty concessions and more

First home concessions Queensland (QLD): your guide to stamp duty, First Home Owners Grant (FHOG), and more.

Are you considering buying your first home in the sunshine state? A median property in Brisbane will cost around $725,000, according to Property Update.

Steep property prices can be a challenge for first home buyers amid interest rate increases. In Q1 2023, first home buyers represented 36% of property sales - a 6-year low, according to NAB.

The Queensland government offers concessions to help first home buyers enter the market. Here’s everything you need to know about Queensland’s first home concessions.

Stamp duty concessions in Queensland include the following:

  • A $15,000 First Home Owners Grant (FHOG) for eligible first-time buyers.
  • Transfer/stamp duty exemptions for first home buyers on properties valued under $500k.
  • Concessional transfer duty, saving up to $15,925 on homes worth $500-550k.
  • Vacant land duty concession of up to $7,175 when buying land to build your first home.
  • Concessional duty rates for owner-occupiers on the first $325,000 of a property’s value.
  • Access to federal schemes like FHSS and First Home Guarantee.

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QLD First Home Owners Grant / FHOG

In Queensland, a $15,000 First Home Owners Grant (FHOG) is available to first home buyers who build, buy, or substantially renovate their first homes. Eligibility is as follows:

  • Be an Australian Citizen or Permanent Resident aged 18 or older.
  • Move into the home within one year, and live in it for at least six months
  • Applicants cannot have received any FHOG grants before
  • Must not have owned and lived in your own property before

Purchases of recently substantially renovated homes (i.e, the whole building or most of the rooms) may receive FHOG provided no one lives in them after the renovation.

Investors may be eligible for FHOG, provided they have owned the property since 1 July 2000 and used it solely for investment purposes. In this case, you could qualify for the grant on a new home purchased as a PPOR.

The Queensland First Home Owner Grant is a scheme co-funded by the state and Federal governments designed to promote homeownership for first-home buyers.

Want to know whether you are eligible? A UNO broker can help explore your options.

QLD First Home Transfer (Stamp) Duty Concession

In Queensland, there is a transfer/stamp duty concession for eligible first buyers purchasing a home valued at less than $550k.

Stamp duty is waived on homes worth less than $500k while concessional rates apply to those valued $500-550k, saving buyers up to $15,925.

To apply for the first home duty concession, buyers must meet the following criteria:

  • Be at least 18 years of age
  • Never have claimed the first home vacant land concession
  • Never have owned or held an interest in residential property before, including in Australia and overseas
  • Move into and live in the property within a year of settlement
  • Do not sell, transfer, or lease the property before you move in
  • Property must be purchased at market value if between $500-550k.

Unlike in some other states, you do not need to be an Australian Citizen or permanent resident to access Queensland stamp duty concession. You could still need to pay a 7% foreign duty, though.

You can still be eligible for the concession when buying a property with someone who has received concessions before. When this happens, the concessional rate applies to your share (i.e., half) of the property.

QLD First Home Vacant Land Concession

The first home vacant land concession of up to $7,175 applies to land valued under $400k that will be used to build your first home.

QLD first home concessions

Vacant land concession calculation examples. Source: Queensland Revenue Office.

Land needs to be empty, only hold one property, and be built and occupied within 2 years of settlement. Further eligibility can be found here.

QLD Duty Home Concession

In Queensland, a (stamp) duty concession exists for owner-occupied properties. The idea is that people who live in their own homes pay less than investors.

The home concession applies to the first $350,000 of a property’s value, saving up to $7,175.

People who have owned property before are eligible for this concession provided they move into and live in the property within a year of settlement.

A step-by-step guide to buying your first home in Queensland

  1. Calculate your borrowing power - Estimate how much you can with the UNO Borrowing Power Calculator. This will give you a budget for your property.
  2. Find the best deal - A UNO broker can help you compare rates from over 20 lenders to find the best deal.
  3. Seek pre-approval - Submit documents, including payslips, for pre-approval.
  4. Search for a property - Look for the perfect property within your budget. UNO has recently partnered with property platform Abodable to offer customers up to $51,000 cash back when purchasing a new home*.
  5. Make an offer on your investment property and settle within 45 days.

Federal First Home Buyer Schemes

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Sources*T&C’s apply. See
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