Queensland extends first homebuyer grant scheme $30,000 until mid-2026

The new stamp duty exemption policy will help reduce the entry costs for first-time homebuyers

The Queensland government announced that it will extend the current First Home Owner Grant (FHOG) to June 30, 2026Qualified buyers can receive a AUD 30,000 This extension works in conjunction with the earlier-launched "stamp duty exemption" policy for first-time homebuyers, becoming one of the government's key support measures to help young families buy homes.

Policy content: Extend the maximum subsidy amount for one and a half years

According to the state government, any November 20, 2023 to June 30, 2026 First-time homebuyers who sign a contract to buy or build a home during this period can apply for a $30,000 grant, the highest in Australia and double the original $15,000 grant.

Grants are available for purchaseNew residential buildingsorBuy land and build a new houseThe total value of the house and land (including land price) must be less than AUD 750,000.

Eligibility: Only new homes for self-use

The state government stressed that the grant program is only available to first-time homebuyers, meaning applicants have never owned any residential property before. The home must be a new home for the first time and is not applicable to the purchase of an existing building or a knock-down rebuild project.

In addition, applicants must move into the property within one year of settlement and may not rent out the entire property before moving in. Failure to comply with these conditions may result in the grant being forfeited.

Policy Background: In line with the "A Place to Call Home" housing blueprint

This policy is the Queensland Government's Housing Blueprint A Place to Call Home part of the 2020 Budget, which aims to improve housing affordability and boost housing supply.

Queensland's housing market has been impacted by population growth and rising construction costs in recent years, leaving first-time homebuyers facing high down payments and interest rates. The government hopes to help young buyers reduce their initial costs and stimulate market revitalization by extending the grant and offering stamp duty exemptions.

Supporting policies: parallel to stamp duty exemption

In conjunction with the extension of the grant, the Queensland government will also implement a "stamp duty exemption for first-time homebuyers" policy from May 2025. The two policies work together to allow first-time homebuyers to save on stamp duty and receive a cash grant when purchasing a new home.

Based on a portfolio of mid-priced homes, buyers can save more than AUD 40,000, significantly lowering the threshold for home ownership.

Expert opinion: Short-term benefits but long-term benefits still depend on supply reforms

Real estate analysts believe that the extension of the subsidy will help stabilize first-time homebuyer demand and may drive an increase in new home sales in the short term. However, they also point out that tax and subsidy measures are short-term stimulus measures, and that long-term efforts to truly alleviate housing supply constraints will require the release of land, simplified approval processes, and increased construction capacity.

Conclusion: A series of policies have been introduced, and the real estate environment has gradually stabilized

Queensland has introduced a number of housing support policies in recent months, from the "Housing Startup Fund" to speed up infrastructure completion to the extension of the first home buyer grant and stamp duty exemption measures, showing that the government is adopting a multi-level strategy to address the challenge of housing affordability.

ANP (Australia National Property) It pointed out that these policies reflect that the Queensland housing market is entering a period of structural adjustment, and the government is shifting from stimulating demand to strengthening supply, bringing more stable long-term expectations to the market.
As an Australian property consultancy for investors from Hong Kong and Taiwan, ANP believes the current policy environment is favourable for both first-time and long-term homebuyers, particularly new developments in Brisbane and the Gold Coast, which will become an important indicator for observing market turns.