Most Queensland first home buyers pay no stamp duty on a new home, and none on an existing home valued at $700,000 or less. Between $700,000 and $800,000 the saving shrinks, and from $800,000 it ends. Since 1 August 2026, buyers must also be citizens or permanent residents.
Last updated 21 October 2026. General information only, not legal, tax or credit advice.
Stamp duty is the cost most first home buyers forget. On an $800,000 purchase it is $21,850 at the home concession rate, and it is due at settlement, on top of the deposit. Good news first. Queensland’s first home concessions are generous. The catch? The rules differ for new and existing homes, they have been rewritten twice in two years, and a third change took effect on 1 August 2026. Reading an older article can cost you thousands.
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We work out your full cash requirement, including the duty figure for your exact price and contract date, before you make an offer.
What Is Stamp Duty in Queensland?
Queensland calls it transfer duty. You pay it to the Queensland Revenue Office (QRO) when ownership of a property changes hands. It is calculated on the purchase price or the market value, whichever is higher.
The standard rates apply to investment properties and are set out below.
| Property value | Transfer duty |
|---|---|
| Up to $5,000 | Nil |
| $5,000 to $75,000 | $1.50 per $100 over $5,000 |
| $75,000 to $540,000 | $1,050 plus $3.50 per $100 over $75,000 |
| $540,000 to $1,000,000 | $17,325 plus $4.50 per $100 over $540,000 |
| Over $1,000,000 | $38,025 plus $5.75 per $100 over $1,000,000 |
Living in the home changes things. Instead of these rates you claim a home concession, and a first home buyer can claim a bigger one. Queensland abolished mortgage duty back in 2008, so the loan itself does not attract stamp duty.
How Much Stamp Duty Do First Home Buyers Pay in Queensland?
It depends on whether the home is new or existing. Queensland has three first home concessions, and each one works differently.
| Type of purchase | Concession | Value cap |
|---|---|---|
| New home or substantially renovated home | Duty reduced to nil (contracts from 1 May 2025) | No cap |
| Vacant land to build your first home | No duty on the residential portion (agreements from 1 May 2025) | No cap |
| Existing home | Nil up to $700,000, phasing out to $800,000 (contracts from 9 June 2024) | $800,000 |
Dates matter. The concession is set by the day you sign the contract, not the day you settle, so a contract signed on 30 April 2025 sits under the old rules even when settlement falls months later. One day can be worth five figures.
What Does the Existing Home Concession Save You?
The existing home concession can save up to $24,525. It works by taking a fixed amount off the home concession rate, and that amount shrinks in $10,000 price steps from $710,000.
The table below shows how it plays out at different prices, using QRO’s published rates for contracts signed since 9 June 2024.
| Purchase price | Duty at the home rate | First home concession | Duty you pay |
|---|---|---|---|
| $600,000 | $12,850 | $17,350 | Nil |
| $700,000 | $17,350 | $17,350 | Nil |
| $750,000 | $19,600 | $8,675 | $10,925 |
| $795,000 | $21,625 | $1,735 | $19,890 |
| $800,000 | $21,850 | Nil | $21,850 |
| $850,000 | $24,100 | Nil | $24,100 |
Look at the jump around the threshold. A buyer at $700,000 pays nothing. A buyer at $750,000 pays $10,925. That is a lot of duty for $50,000 of extra price, and it is worth knowing before you fall in love with a listing that sits just over the line.
Once you pass $800,000, you drop back to the ordinary home concession. It still applies to a first home or a next home, and it saves up to $7,175 by charging only $1 per $100 on the first $350,000. So an $850,000 purchase is $24,100 rather than the $31,275 an investor would pay.
Is a New Home Really Free of Stamp Duty?
Yes, with conditions. A first home buyer who signs a contract on or after 1 May 2025 for a new home pays no transfer duty. There is no price cap.
QRO defines a new home as one that has not been previously occupied or sold as a place of residence, or a substantially renovated home that counts as a taxable sale of new residential premises under the GST Act. A brand-new off-the-plan apartment usually qualifies. So does a freshly built house. A two-year-old townhouse that someone has already lived in does not.
Buying vacant land to build on works the same way for the land itself. The residential portion carries no duty for agreements from 1 May 2025, but you must build one home, and move in within two years of settlement. Any part of the land that is not residential is still dutiable.
No cap. That is the big difference, and it means the new home concession can be worth far more than the existing one. On a $900,000 new house it removes $26,350 of duty that the home concession rate would otherwise charge.
What Is the $30,000 First Home Owner Grant?
The grant is a separate payment, not a duty concession. Queensland pays eligible first home buyers $30,000 towards buying or building a new home. It was scheduled to drop back on 30 June 2026, but the 2026–27 State Budget kept the higher amount running for the next four years, which is good news for anyone still saving. Old articles still say $15,000.
Three points trip people up.
- The grant is for new homes only. Established homes do not qualify.
- A price cap applies to the home and land combined. The Queensland Government lists it at $750,000, so confirm the current figure before you sign.
- You can claim the grant and the transfer duty concession on the same new home. They are different benefits that run side by side.
The grant rules differ from the duty rules. Check each one separately on the QRO website.
Talk to a Manly Mortgage Broker Before You Make an Offer
We have worked on Brisbane’s bayside since 2007, and we know how these rules play out for first home buyers. We compare 30+ lenders, work out your full cash requirement, and check which concession applies to the property you want. Our service costs you nothing in most cases. MC Mortgage Solutions, 138 Kingsley Tce, Manly QLD 4179. Australian Credit Licence 394061 (ACN 128 555 902).
Who Is Eligible for the First Home Concessions?
Every condition counts. QRO’s duty concession requirements are listed below, and you must satisfy all of them.
- You are buying as an individual (companies and most trusts are excluded)
- You are at least 18 years old
- You have never held an interest in a residence anywhere in Australia or overseas, including a home you part-owned
- You have never claimed the first home vacant land concession before
- You move in with your belongings and live there daily within one year of settlement (two years for vacant land)
- You pay market value for the property
The “anywhere in the world” part catches people out. Once owned a share of a unit overseas, even years ago and even with a mortgage still attached? You are probably not a first home buyer for duty purposes, however new to Queensland you are.
What Changed on 1 August 2026?
For contracts entered into from 1 August 2026, you must also be an Australian citizen, a permanent resident or a specified foreign retiree to claim a home, first home or vacant land concession, and temporary residents generally pay full transfer duty plus the 8% additional foreign acquirer duty that applies to residential land. Earlier contracts are unaffected.
What Happens if You Do Not Move In?
You must live in the home as your principal residence within the required time. If you rent it out or sell it too early, QRO can reassess the duty and you may owe the concession back. Plans change. If there is any chance you will not occupy the property, speak with your conveyancer or solicitor before you commit.
Should You Buy New or Existing?
There is no universal answer. The duty maths favours new homes, and by a wide margin once the price passes $800,000. That does not make a new home the better purchase. Not always.
New homes often cost more per square metre of land, and apartments can carry body corporate levies for decades. Established homes in settled streets near Manly, Wynnum or the Redlands may offer more land and a shorter commute, and plenty of buyers value that over a duty saving. Compare the full cost over the years you plan to own, including price growth you can reasonably expect, running costs and what you would pay to sell, rather than just the figure on settlement day.
Three questions help.
- What is the real all-in cost once duty, the grant and any guarantee are counted?
- Will the lender value the property at or above the price? New builds sometimes do not.
- How long do you plan to stay?
We run these comparisons for clients all the time. Sometimes the answer surprises them.
How Do You Claim the Concession?
You claim it when the transfer is lodged, usually through your solicitor or conveyancer. They complete the transfer duty paperwork with QRO, and you pay the duty (or nil) at settlement.
Your broker’s job runs alongside that. We work out the whole cash requirement before you make an offer, so the numbers hold on settlement day. That means the deposit, any lenders mortgage insurance, legal fees, building and pest inspections, and the duty figure for your exact price and contract date.
What Other Costs Should You Budget For?
Duty is one line of many. These are the other costs we see first home buyers miss.
- Deposit. Lenders set their own minimums, and many want at least 5%. A deposit under 20% usually adds lenders mortgage insurance, unless a government guarantee applies.
- Government guarantee. The First Home Guarantee can let eligible buyers purchase with a smaller deposit without paying LMI. Places, price caps and eligibility are set by Housing Australia, so check the current settings.
- Legal and conveyancing fees.
- Building and pest inspection.
- Mortgage registration and title transfer fees. These are charged by Titles Queensland.
- Moving costs and utility connections.
Before you set a budget, run your numbers through our stamp duty calculator and the other tools on our calculators page.
A Worked Example From the Bayside
This is a hypothetical, not a real client. Say a couple are looking at two properties around Wynnum. One is an established house at $695,000. The other is a newly built townhouse at $780,000.
On the established house, they pay no transfer duty because it sits under $700,000. On the new townhouse, they also pay no duty, because it is a new home with no cap, and they may qualify for the $30,000 grant if the total is under the grant’s price cap. The house looks cheaper on paper, but the townhouse costs them nothing extra in duty and may come with a grant. The point is to compare the full cost, not just the price tag.
Take the same couple buying an existing townhouse at $780,000 instead. Now the home concession rate gives $20,950, the first home concession takes off $3,470 for that price band, and they pay $17,480. That is the cost of choosing an established property over a new one at the same price.
Frequently Asked Questions
Do first home buyers pay stamp duty in Queensland?
Sometimes. Buyers of new homes and vacant land pay none under the 2025 changes. Buyers of existing homes pay none up to $700,000, a reduced amount up to $800,000, and the home concession rate above that.
What is the first home buyer stamp duty threshold in Queensland?
For existing homes, the full exemption ends at $700,000 and the concession ends at $800,000. For new homes and vacant land there is no cap.
Can I get the first home concession and the grant together?
Yes, if you buy a new home and meet both sets of criteria. Established homes miss out on the grant.
Are temporary residents eligible for the concession?
Generally no, for contracts from 1 August 2026. They pay standard duty and may pay the 8% foreign acquirer duty.
Does a gifted deposit change my stamp duty?
No. Duty follows the property value. Lenders do look at gifted funds separately, so ask us how your lender treats them.
Do I pay duty on the loan?
No. Queensland abolished mortgage duty in 2008. You pay a registration fee for the mortgage, but not stamp duty on the loan.
