Assistance for Queensland First Home Buyers

If you are a first home buyer in Queensland it's important to understand which government schemes, grants and concessions you may qualify for which will help you get into your first home.

First Home Buyer Guide

Am I ready to buy a house?

What is a first home buyer?

Will I be able to get a loan?

Is my Credit History and Rental History important?

Buying versus renting

How much deposit do I need?

Understanding deposits

How to meet the banks genuine savings rules

Deposit calculator

Grants and schemes for FHB's

First Home Owner Grants

First Home Guarantee Scheme

Latest government announcements to help FHB’s

Getting finance pre-approval

Pre-approval process

Benefits of getting a pre-approval

Are all pre-approvals equal?

Mortgage brokers vs Banks?

Why use a mortgage broker?

How much does a mortgage broker cost?

Are all mortgage brokers equal?

How to buy a property

Pre-approval process

Benefits of getting a pre-approval

Are all pre-approvals equal?

Preparing for settlement

Going unconditional on the property contract

What does a converyancer/solicitor do for a property purchase?

What happens on the day of settlement?

Managing your mortgage

Understanding loan repayments

Extra repayments, redraw and offset accounts

When is the right time to review your home loan?

2025 latest announcements

QLD First home buyers to benefit from stamp duty abolition on new homes

Great news for aspiring homeowners in Queensland, starting Thursday, May 1, eligible first home buyers purchasing or building a new home will no longer have to pay stamp duty. This major cost-saving measure aims to help more Queenslanders step onto the property ladder faster and with less financial stress.

By removing one of the biggest upfront expenses when buying a home, this change will allow first home buyers to redirect those funds toward their deposit, home upgrades, or moving costs, making the dream of home ownership more attainable than ever.

On average, buyers across Queensland can expect to save around $9,906 on a house and land package at the median price. In high-demand areas, the savings are even more substantial:

Brisbane North: Up to $39,500 in savings
Toowoomba: More than $24,000 in savings

State specific first-home buyers assistance

The Queensland state government has a number of schemes in place to assist first-home buyers’ entry into the property market. These schemes can save Queenslanders thousands of dollars, and get more people into homes.

First-home owners grant

What it is:

If you’re buying or building your first new home in Queensland, the First Home Owner Grant (FHOG) can give you a helping hand with a $15,000 grant. This applies to new homes, including houses, townhouses, apartments, units, or any other similar property.

The property can also be one that’s been substantially renovated or built to replace a demolished home. However, it can’t be an investment property or a holiday home!

*Note: For new homes built or bought between 20 November 2023 and 30 June 2025 inclusive, the grant amount is $30,000 – reverting back to $15,000 from 1 July 2025.

Eligibility criteria:

All applicants are a minimum of 18 years of age and are either an Australian citizen or a permanent resident
Applicant/s are a first-time buyer
Applicant/s must not have owned a property before 1 July 2000
Applicant/s must not have owned an owner occupier after 1 July 2000
All applicants must live in the home for at least 6 months, within 12 months of settling (defence personnel are exempt from this rule)
The application must be made as an individual/s (not a company or trust)
If both applicants are eligible, only one applicant will be granted the $15,000

Price caps:

The value of the home must be less than $750,000, including land and contract variations.

Read more about the FHOG on the QLD Government website

Stamp duty exemption and concessions

What it is:

Stamp duty is a government tax that’s charged when you buy property, regardless of whether it’s a house, land, or investment property. The amount you pay depends on:

The state or territory you’re buying in
The value of the property

If you’re buying your first home in Queensland on or after 1 July 2017, you could be eligible for a full exemption or a reduced rate (concession) on stamp duty. This is separate from the First Home Owner Grant and can apply even if the property isn’t brand new.

There are three main tiers:

Full exemption: If your home’s dutiable value is $700,000 or less, you won’t pay any stamp duty.
Full exemption: If your first home is a new home, you won’t pay stamp duty regardless of the home’s value
Concession: If your home’s dutiable value is between $700,001 and $800,000, you’ll receive a discounted rate (which gradually decreases as the property value goes up).

Additionally,

If you have previously owned a home, or the home’s value is greater than $800,000 you may be eligible for a home concession.

Eligibility criteria:

To qualify for this exemption or concession, you (and the other applicants if applicable) must meet the same criteria as the first-home buyers grant scheme, with the main difference being:

The property doesn’t need to be brand new, it can be an established home

Federal first-home buyers assistance

In addition to state specific first-home buyer assistance schemes, the federal government has numerous initiatives to get more people into their first home.

Help to buy scheme

What it is:

The help to buy scheme allows participants to buy a home with the government. The federal government will give buyers a contribution of up to 40% of the cost of a new home, and 30% for established homes.

Essentially, the government will own a share in your house, so partakers will only need to pay a mortgage on their share of the property. Additionally, applicants will only need a 2% deposit to go along with the governments equity contribution.

As of May 2025, the program commencement date is yet to be determined, with only VIC and QLD passing the necessary legislation for the federal government to operate within their jurisdiction.

Eligibility criteria:

Applicant/s are Australian citizens and are at least 18 years old
The property must be lived in by the applicants
Applicant/s satisfy a financial capacity test, determining whether or not you need the schemes assistance
Single applicants earn less than $100,000 annually, and
Dual applicants must earn less than a combined $160,000
Applicant/s must not currently own other property, but they can have owned property in the past

For applicants based in Queensland, the property price caps for this scheme are:

$1,000,000 for capital and regional centres
$700,000 for the rest of the state

First home guarantee

What it is:

The First Home Guarantee is part of the Australian Government’s Home Guarantee Scheme, designed to help eligible Australians purchase their first home sooner. Managed by Housing Australia, the FHBG allows first home buyers to secure a home loan with as little as 5% deposit, without paying Lenders Mortgage Insurance (LMI).

Instead of requiring the standard 20% deposit, Housing Australia guarantees a portion of your home loan through participating lenders. This government-backed support can make it easier and more affordable to enter the property market.

Eligibility criteria:

Applicant/s must be Australian citizens or permanent residents (at time of application) and at least 18 years of age
Single applicants to earn less than $125,000 or,
Dual applicants to earn less than $200,000
The applicants must intend to live in the home, and not have had interest in a real property in the past 10 years

For Queenslanders, the property price caps for this scheme are:

$700,000 for capital and regional centres
$550,000 for the rest of the state

For more personalised advice and assistance, contact one of our mortgage broker in Melbourne, Sydney or Byron Bay. They are here to help you navigate the complexities of First Home Buyer schemes, grants and concessions, and help you find the best home loan options for your needs.