The Queensland Government has today officially announced a major boost to first home buyer incentives, confirming that contracts signed on or after May 1, 2025, for a new or substantially renovated property may qualify for a full transfer duty concession—potentially saving buyers tens of thousands of dollars.
This is a significant development for Position Property buyers considering off-the-plan apartments and townhomes, as these typically fall under the "new home" category. With no price cap on eligible properties, this concession provides even more value to buyers seeking lifestyle, location and long-term capital growth without the added cost of stamp duty.
Who qualifies?
To be eligible, buyers must:
- Be purchasing their first ever residence in Australia or overseas
- Be at least 18 years old
- Live in the property as their principal place of residence within 12 months of settlement
- Be acquiring the property as an individual (not a company or trustee, with limited exceptions)
- Not have claimed a previous first home concession or grant for vacant land
Crucially, buyers do not need to be Australian citizens or permanent residents—though additional duties may apply to foreign buyers.
What is considered a “new home”?
The definition includes:
- Homes that have never been occupied or sold
- Properties that have been substantially renovated to meet requirements under the GST Act and not previously lived in post-renovation
Buyers must also provide a vendor statement confirming the property qualifies as a new home or substantially renovated home.
A powerful opportunity for off-the-plan buyers
With most off-the-plan developments offered by Position Property qualifying as new homes, this concession significantly enhances the affordability of buying brand-new. It also strengthens the appeal of securing a property early in its development lifecycle—often with lower initial pricing, more choice of floorplans, and now, no stamp duty.
Position Property Managing Director Richard Lawrence welcomed the announcement, stating:
"This is a game-changer for Queensland’s first home buyers. We’re proud to work with developers who create quality, design-led homes that meet the criteria. Now, there’s an even greater financial incentive for buyers to enter the market with confidence."
How to claim the concession
Eligible buyers will need to:
- Sign a contract dated 1 May 2025 or later
- Complete Form D2.1 (available from 1 May)
- Provide documentation showing the property is a new or substantially renovated home
- Meet all post-settlement requirements (e.g., move in within 12 months and not rent or sell before occupancy)
If a buyer pays full duty up front but later meets the criteria, they may apply for a reassessment and receive a refund.
At Position Property, we’re here to help you navigate the buying process—from selecting the right home to claiming the benefits you’re entitled to. If you’re considering an off-the-plan purchase, now is the time to act.
Start your homeownership journey today—without the stamp duty.