News
22 May, 2025
Home buyer chance
First home buyers have a golden window of opportunity to maximise government incentives before July 1, when the State Government’s $30,000 First Home Owner Grant reverts to only $15,000.
New stamp duty concessions that started on May 1 have created what could be a once-in-a-lifetime window for buyers.
Lennium Development Manager, Ian Worthington, said May and June 2025 would be golden months for any first home buyer looking to build and urged people to move quickly.
“This is a rare moment for first home buyers, and people can take advantage of multiple government incentives at once,” he said. “The difference an extra $15,000 can make is huge. It could cover key upgrades, landscaping, or even help reduce your loan — but the clock is ticking. If you’re serious about getting into a new home, now is the time to secure land, line up a builder, and get your building contract locked in before June 30.”
Introduced to assist first-time buyers to enter the property market, the First Home Owner Grant was doubled on November 20, 2023, in a bid to increase home ownership across the state. It is estimated to have helped around 12,000 first home buyers purchase or build their first home but is scheduled to revert to $15,000 from July 1, 2025.
The change to stamp duty, also known as transfer duty, means a first home buyer purchasing land after May 1, 2025, could also save thousands of dollars. This costly tax can be a major barrier to home ownership, especially for young buyers trying to enter the market for the first time.
Previously, first home buyers purchasing vacant land would start paying stamp duty on a block worth more than $350,000. Under the changes, a first home buyer purchasing vacant land at $400,000, for example, will now save $5,300 in stamp duty.
The looming deadline comes as developer Lennium Group prepares to release the next stage of land at Lilywood Landings — the first community in Moreton Bay’s new city of Waraba — which is already proving a magnet for first home buyers.
Formerly known as Caboolture West, Waraba is a 40-year project that will eventually supply around 30,000 homes plus schools, parks, sporting fields and a town centre for an expected population of 70,000 people — approximately the size of Mackay.
To be eligible for the First Home Owner Grant, buyers must be at least 18 years of age, an Australian citizen or permanent resident (or applying with someone who is). Buyers must not have previously owned property in Australia that they lived in, and must be building or buying a new home.
To find out more about Lilywood Landings, visit www.lilywoodlandings.com.au.
