In a boost to home builders across the State, the QLD government has abolished stamp duty on new homes for first home buyers.
Treasurer and Minister for Home Ownership David Janetzki said thousands of Queenslanders will benefit from the change which will start on 1 May, 2025.
“Thousands of young people who want to enter the housing market will save because of these initiatives,” Mr Janetzki said.
“For too long this State has been at the bottom of the home ownership ladder, but we’re unlocking the door for more Queenslanders.”
Treasury predicts the move could deliver an additional 800 new homes and support thousands of Queenslanders to get into their first home.
New laws were also introduced that will allow first home buyers to rent out a room in their first 12 months of ownership.
Eligible first home buyers will save $9096 on a median-priced house-and-land package in Queensland.
The initiative has been welcomed across the construction industry, although the HIA has called for stamp duty to be abolished for all new homes.
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