First home buyers across Queensland have saved a combined $56 million in upfront costs after the state government removed stamp duty on new homes, according to new figures released one year after the policy took effect.
The data shows 2,985 buyers entered the market without paying the tax, with average savings estimated at about $26,000 based on median property values. In parts of Brisbane’s east, that figure has reached close to $29,000.
The policy, introduced by the Crisafulli Government, aims to reduce entry costs for new buyers and lift home ownership rates, which have lagged behind other states in recent years. Areas such as Logan-Beaudesert, Ipswich and Moreton Bay North have emerged as key locations where buyers are taking up the offer.
Treasurer David Janetzki said the removal of stamp duty has helped ease cost pressures and allowed more people to secure a first home sooner. He pointed to rising dwelling approvals and a strong construction pipeline as signs of improving confidence in the sector.
Figures cited by the government show dwelling approvals rose by 18 per cent in the year to February, while residential work in the pipeline reached $22.1 billion in the December 2025 quarter. The government argues these trends reflect a broader housing strategy focused on increasing supply and encouraging new builds.
The breakdown of transactions suggests much of the activity has been tied to land purchases. In the 11 months to March 2026, 1,988 of the first home buyer transactions receiving stamp duty relief were for vacant land, compared with 659 for newly built homes. This points to a pipeline of construction still to come, rather than an immediate lift in completed housing stock.
While the savings are clear for those who have entered the market, economists and housing analysts often caution that demand-side incentives can have mixed effects. Lower upfront costs can make it easier to buy, but they may also place upward pressure on prices if supply does not keep pace.
There are also questions about how broadly the benefits are distributed. First home buyers able to secure finance and enter the market gain direct savings, while those still priced out see little immediate relief. Affordability remains tied to factors such as interest rates, land availability and construction timelines.
Industry groups have generally supported measures that reduce barriers to entry, particularly when paired with efforts to increase housing supply. The government’s broader housing plan includes releasing more land and encouraging development, though the pace of delivery will be closely watched.
For buyers in growth corridors like Logan-Beaudesert and Ipswich, the policy appears to have provided a timely boost, especially in areas where new housing estates continue to expand. At the same time, the reliance on vacant land purchases highlights the lag between policy settings and completed homes entering the market.
One year on, the stamp duty change has delivered measurable savings for a defined group of buyers. Whether it leads to a sustained lift in home ownership rates across Queensland will depend on how supply responds and how broader market conditions shift in the coming years.
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