Abolishing stamp duty on new homes for first home buyers will be the first action of Parliament this year, delivering major cost of living relief to Queenslanders, Queensland Premier David Crisafulli said last week.
Abolishing stamp duty on new homes for first home buyers is one of the actions the government plans to take to boost home ownership, along with unlocking underused church and charity owned land for community housing, removing restrictions preventing first home buyers renting out rooms and kickstarting new development with a $2 billion investment in housing infrastructure.
Mr Crisafulli said a first home buyer purchasing a new house and land package in Toowoomba at the median price could save $24,730.
First-home buyers would save $29,500 when purchasing a new build at the median price in Brisbane east, while in Logan-Beaudesert, they would have keep $6960 in their pocket.
“For far too long, stalling housing approvals and skyrocketing housing prices have shut the door on Queenslanders walking into their own home,“ he said.
Treasurer and Minister for Home Ownership David Janetzki said Queenslanders were losing hope in the Great Australian Dream of home ownership and the situation has never been more dire for young people wanting to purchase their first home.
“Scrapping first home buyer stamp duty on new builds provides real savings and puts the Great Australian Dream back within reach,” he said.
