Industry applauds stamp duty axe – but more reform needed to boost housing supply

1 May 2025

Master Builders welcomes the new laws abolishing stamp duty on new homes for first home buyers, which kick in today (1 May).

With government housing targets remaining out of reach, Master Builders CEO Paul Bidwell said any move by the state government to slash more of the costs hampering construction in Queensland is a good thing.

“However, there is more work to be done – and the tax system offers further opportunities to help more Queenslanders get a leg up on the property ladder,” Mr Bidwell said.

“The $15,000 first homeowner grant boost is set to expire on 30 June – and we’re calling on the Crisafulli Government to extend this crucial cash boost.

“If the $15k grant is pulled at the end of June, the good work being done by axing stamp duty will effectively cancel out the would-be saving of $13,330 on a median-value home.

“The $750,000 cap on house and land value for the grant should be scrapped. This is less than the median price of $764,900 price of a new home in Queensland – and only 81 per cent of the current median price of a new home in Brisbane: $1.36 million.

“Time is ticking on the first homeowner grant boost – and we need government to take action to help more Queenslanders afford their first home, so industry can get on with building them.”