First-home buyers building or purchasing a new home in Queensland have been handed a lifeline after the state government extended its $30,000 grant for four years and locked in its stamp duty savings in this year’s budget.
The Queensland government unveiled its latest budget on Tuesday, giving first-home buyers a helping hand through its First Home Owner Grant (FHOG), Boost to Buy shared equity program and its move to abolish stamp duty on new homes for first-home buyers.
But the property industry has called on the government to consider expanding stamp duty relief to a broader range of buyers, and extending the FHOG to include established housing in its eligibility.
Governments are under pressure to tackle housing affordability around the country, as rising home prices make it increasingly harder for first-home buyers to enter the property market.
Queensland has the third-least affordable housing in Australia, according to the 2025 PropTrack Housing Affordability Report, which found that a median-income household could afford to buy only 14% of homes sold in the state during 2024-25.
To help first-home buyers, this year’s state budget invested $72 million to extend the $30,000 FHOG for another four years, however the grant is only available to buyers purchasing or building a new home.
It comes after the state government abolished stamp duty on new homes purchased by first-home buyers in May last year, having supported more than 3,500 Queenslanders so far.
First-home buyers looking to build or buy a new home in Brisbane and throughout the rest of Queensland can take advantage of the extended First Home Owner Grant scheme. Picture: Getty
The state government also continued to fund its Boost to Buy shared equity program, which allows eligible first-home buyers to purchase a home worth up to $1 million with just a 2% deposit.
Treasurer and minister for home ownership David Janetzki said the state government was unlocking home ownership for more Queenslanders.
“By locking-in the First Home Owner Grant and abolishing stamp duty for first home buyers on new homes, we’re driving down barriers and getting more Queenslanders through the door,” Mr Janetzki said.
“Our nation leading Boost to Buy scheme has already seen more than 100 Queenslanders move into their first home with hundreds more working through pre-approvals or searching for their first home.”
Real Estate Institute of Queensland's Antonia Mercorella says stamp duty reform remains a key lever that has yet to be fully pulled. Picture: Supplied
Real Estate Institute of Queensland (REIQ) chief executive Antonia Mercorella said these initiatives were helping address one of the biggest hurdles for first home buyers, which was getting together a deposit.
“However, we believe there’s room to expand the First Home Owner Grant to include established housing - to better reflect how the market operates across much of Queensland, particularly in regional areas where new supply is limited,” Ms Mercorella said.
In addition, Ms Mercorella said stamp duty reform remained a key lever that has yet to be fully pulled.
“[Stamp duty] continues to act as a barrier to mobility and home ownership, and we would like to see a pathway toward a more efficient system,” she said.
“While we welcome the Queensland government’s moves to abolish stamp duty for first home buyers on new homes, and have this now firmly legislated, there is still room to extend this relief.”
Ms Mercorella pointed to the ACT government, which recently abolished stamp duty altogether for first-home buyers from 1 July 2026.
It also expanded stamp duty exemptions for pensioners, eligible National Disability Insurance Scheme (NDIS) participants and all home buyers who have not owned property in the past five years.
“These are the types of bold reforms that improve mobility, unlock housing supply, make better use of existing stock and attract buyers to Queensland,” Ms Mercorella said.
Brisbane’s median home price has soared 16.4% to $1.08 million during the year to May, while prices across the rest of Queensland have jumped 13.3% to $836,000, according to the latest PropTrack Home Price Index.
Brisbane home prices have skyrocketed 89.7% over the past five years, while prices across the rest of Queensland were 81.9% higher during the period.
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