First Home Buyer Guide Queensland (QLD) 2026 - Grants, Schemes & Loans

In Queensland, the First Home Owner Grant (FHOG) is $30,000 - the highest FHOG of any Australian state or territory. This grant is available to first home buyers purchasing or building a new home valued at up to $750,000. The $30,000 amount was introduced as a temporary increase from $15,000, initially extended to 30 June 2025. The grant applies only to new homes - not established properties. You must be an Australian citizen or permanent resident, at least 18 years old, and not have previously owned property in Australia. Applications are lodged through your lender at settlement or directly through the Queensland Revenue Office.

First home buyers in Queensland receive transfer duty (stamp duty) concessions, but the structure differs from states like NSW and VIC. For homes valued up to $500,000, first home buyers pay no transfer duty. For homes between $500,001 and $550,000, a concessional rate applies on a sliding scale. Above $550,000, the standard transfer duty rate applies. The concession applies to both new and existing homes. On a $500,000 property, the concession saves $15,925 compared to a non-first-home buyer. Queensland also charges no stamp duty on the FHOG itself.

The property price cap for the Queensland First Home Owner Grant is $750,000. This applies to the total value of the property including the land. The cap covers new homes including newly built houses, off-the-plan apartments, substantially renovated properties, and owner-builder new constructions. If your property exceeds $750,000 by even $1, you receive no grant - there is no sliding scale. Note that the FHOG cap ($750,000) is higher than the full stamp duty concession threshold ($500,000), so you can receive the full $30,000 FHOG and still pay standard transfer duty on properties between $550,001 and $750,000.

No, the Queensland First Home Owner Grant is not available for existing (established) homes. The $30,000 grant applies only to new homes, including newly built properties, off-the-plan apartments, substantially renovated homes, and owner-builder new constructions. However, if you are buying an existing home in Queensland, you can still access the transfer duty concession (up to $500,000 fully exempt), the First Home Buyer Guarantee (5% deposit, no LMI), Help to Buy (30% government equity for existing homes), and the First Home Super Saver Scheme.

The minimum deposit to buy a first home in Brisbane depends on which government schemes you use. With Help to Buy, you need just 2% - that is $10,000 on a $500,000 property. With the First Home Buyer Guarantee (FHBG), you need 5% - $25,000 on $500,000 - with no Lenders Mortgage Insurance. Without any scheme, most lenders require at least 5% but you will pay LMI of approximately $8,000-$20,000 unless you have 20% ($100,000). Brisbane's significantly lower entry prices compared to Sydney and Melbourne mean the 5% deposit under the FHBG is achievable for many buyers saving for 12-18 months.

Yes, the First Home Buyer Guarantee (FHBG) is available in Queensland. The property price cap for Brisbane is $700,000, and for regional Queensland it ranges from $500,000 to $550,000. Income caps are $125,000 for singles and $200,000 for couples. Since October 2025, FHBG places are unlimited. The FHBG allows you to buy with a 5% deposit without paying LMI, saving approximately $8,000-$18,000 on a typical Brisbane purchase. Queensland's lower median prices compared to Sydney and Melbourne mean more properties fall within the FHBG price cap.

Income caps for first home buyer schemes in Queensland vary by program. The First Home Buyer Guarantee (FHBG) has a cap of $125,000 for singles and $200,000 for couples. Help to Buy has a lower cap of $90,000 for singles and $120,000 for couples. The First Home Owner Grant (FHOG) in Queensland has no income test - eligibility is based on property value and type. The First Home Super Saver Scheme (FHSS) also has no income cap. Transfer duty concessions in Queensland have no income test.

On a $90,000 salary with no other debts, most lenders will approve a first home loan of approximately $480,000-$560,000. Lenders apply APRA's 3% serviceability buffer, testing affordability at around 9.5%. A $30,000 HECS-HELP debt reduces borrowing capacity by approximately $30,000-$45,000. Using a joint application with a partner earning $70,000 (combined $160,000) increases borrowing power to approximately $800,000-$940,000. In Brisbane, this covers the vast majority of the market - unlike Sydney where similar income limits options to outer suburbs.

The most affordable suburbs for first home buyers in Brisbane in 2026 include areas in the southern growth corridor such as Logan ($390,000 median unit), Woodridge ($350,000 median unit), and Kingston ($380,000 median unit). Ipswich and Springfield offer units from $370,000 and houses from $560,000. North of Brisbane, Moreton Bay offers units from $420,000 with strong infrastructure investment. Regional centres like Toowoomba ($330,000 median unit) and Cairns ($280,000 median unit) offer significantly lower entry points with RFHBG eligibility.

The 2032 Brisbane Olympics is driving approximately $20 billion in infrastructure investment across South-East Queensland, including Cross River Rail, Brisbane Metro, Gold Coast light rail extensions, and venue upgrades in Brisbane, Gold Coast, and Sunshine Coast. Historical data from Sydney (2000) and London (2012) shows host cities experience 5-15% property price growth in the decade leading up to the games. Areas near Olympic venues (Woolloongabba, Albion, Northshore Hamilton) and along new transport corridors are expected to see above-average growth. For first home buyers, buying before major infrastructure completion locks in current prices.

Regional Queensland offers significantly lower entry prices and access to the Regional First Home Buyer Guarantee (RFHBG) with 5% deposit and no LMI. Median house prices in Toowoomba ($480,000), Cairns ($450,000), and Townsville ($420,000) are well below Brisbane's $750,000 median. Regional buyers also benefit from Queensland's $30,000 FHOG for new builds. However, Brisbane offers stronger capital growth driven by Olympics infrastructure, the highest interstate migration of any capital city, and greater job diversity. Consider growth corridors like Logan and Ipswich which offer affordable entry with improving city connectivity.

Queensland stands out for first home buyers in several ways. It offers the highest FHOG nationally at $30,000 - triple NSW's $10,000 and Victoria's $10,000. Queensland has the strongest interstate migration of any state, driven by relative affordability and lifestyle. The 2032 Brisbane Olympics is driving $20 billion in infrastructure investment. Brisbane's median unit price remains well below Sydney and Melbourne, meaning more properties qualify for government schemes. Queensland also has no land tax for principal place of residence and no annual property tax, keeping ongoing costs lower than Victoria's emerging land tax model.