The Queensland Government is delivering major cost-of-living relief for Queenslanders chasing the great Australian dream of home ownership by continuing the boosted First Home Owner Grant for an extra year.

The $30,000 grant for new-builds was due to expire at the end of the month, however the Queensland Government has extended it until June 30, 2026.

The Queensland Government is kickstarting new residential developments, abolishing stamp duty on new homes for first buyers, and unleashing social and community housing.

The First Home Owner Grant extension in the budget follows the Queensland Government’s abolition of stamp duty for eligible first home buyers who purchase or build a new home in Queensland.

Queensland currently sits at the bottom of the home ownership ladder, lagging behind other States, but the Queensland Government is committed to raising home ownership to the highest in the nation within a decade.

Since coming into effect last month, the Queensland Government initiative has already delivered thousands in savings to prospective home owners looking for their own place to call home.

First home buyers have so far saved an average of $16,996, helping reduce their upfront costs and easing the financial pressure and stress that comes with buying a home.

Recent changes also mean first home buyers are now able to rent out a room to make paying off their mortgage even easier. It’s expected the policy will support around 3,000 Queenslanders each year.

Premier David Crisafulli said the extension of the boosted first home owner grant, alongside other housing initiatives, would deliver a place to call home for more Queenslanders sooner.

“We are unlocking the door to home ownership for thousands more Queenslanders who have been locked out from their first home for too long,” Premier Crisafulli said.

“Boosting the first home owner grant and delivering on our promise to abolish stamp duty for first buyers on new homes is also driving more homes to be built across our State.

“It’s more money back in the pockets of first-time buyers, putting the great Australian dream back within reach.”

Treasurer and Minister for Home Ownership David Janetzki said supporting home ownership was a priority of the Government.

“Supporting first home buyers in Queensland is about creating opportunities, removing financial barriers and making home ownership a reality for more Queenslanders,” Treasurer Janetzki said.

“Every Queenslander deserves a place to call home, and we’re committed to keeping the great Australian dream of home ownership alive in this State.”

AusBuild Joint Manager Director and Urban Development Institute of Australia Queensland President Michael Loney said first home buyers were the lifeblood of a healthy housing market.

“At Ausbuild, we know that when programs like the Queensland First Home Owner Grant and stamp duty concessions work together, they make the dream of home ownership a real and achievable goal for more Queenslanders,” Mr Loney said.

More information on eligibility criteria and other support for first home buyers is available via the Queensland Revenue Office.