First Home Buyer: Guide for Queensland

Buying your first home in Queensland remains a popular pathway into property ownership, with government incentives helping many buyers overcome affordability challenges. According to McGrath Research First Home Buyer Report, first home buyer participation has remained resilient despite higher interest rates, with government grants, concessions and shared equity schemes continuing to support demand.

Over the past decade, first home buyers have increased their share of owner-occupier lending in Queensland from 27% to 32% in Q1 2026. Loan commitments to first home buyers totalled 23,189 in Q1 2026, representing a 1.1% increase compared to the previous year. While this remains below the elevated levels recorded during 2021 and 2022, first home buyers continue to play an important role in Queensland's housing market.

Strong Demand Continues to Drive Entry-Level Property Prices

Demand for affordable housing has intensified across Queensland, supported by ongoing interstate migration, limited housing supply and competition from both investors and owner-occupiers. As a result, property values in the lowest quartile of the market recorded significant growth over the year to Q1 2026.

Key price movements included:

• Brisbane apartments increased 23% to an average value of $650,000.
• Brisbane houses rose 16% to an average of $850,000.
• Regional Queensland apartments increased 15% to $519,900.
• Regional Queensland houses rose 14% to $713,800.

Recently announced tax changes may help moderate investor activity over time, which could reduce competition in some entry-level market segments and improve opportunities for first home buyers.

Government Incentives Available to Queensland First Home Buyers

Queensland offers a range of state and federal initiatives designed to reduce upfront costs and make home ownership more accessible.

First Home Owner Grant (FHOG): Eligible buyers purchasing a newly built home may receive a $30,000 First Home Owner Grant, provided the purchase price does not exceed $750,000.

First Home Concession (Transfer Duty): Eligible first home buyers can access transfer duty (stamp duty) concessions when purchasing homes valued up to $800,000.

Boost to Buy (Round 2): The Queensland Government's shared equity scheme allows eligible buyers in regional Queensland to purchase with a deposit as low as 2%. The government can contribute up to 30% equity for new homes and 25% for established homes, with properties valued up to $1 million.

First Home Guarantee (FHG): The First Home Guarantee allows eligible buyers to purchase with a 5% deposit without paying Lenders Mortgage Insurance (LMI), subject to scheme criteria and participating lenders.

Help to Buy: Eligible buyers can purchase with a minimum 2% deposit through the federal Help to Buy shared equity scheme, reducing the upfront savings required to enter the market.

First Home Super Saver Scheme (FHSSS): The FHSSS allows eligible buyers to make voluntary super contributions and later withdraw those funds to help purchase their first home.

Key Takeaway for First Home Buyers

Queensland continues to provide multiple pathways into home ownership through a combination of grants, transfer duty concessions, shared equity programs and low-deposit purchase schemes. While affordability remains a challenge in many parts of the state, government support can substantially reduce deposit requirements and upfront purchasing costs for eligible buyers.

Before purchasing, first home buyers should factor in additional expenses such as legal fees, building and pest inspections, loan establishment charges and moving costs. Seeking professional advice and confirming eligibility for grants and incentives can help buyers make informed decisions and maximise available support.

Read the full report for detailed market insights, eligibility requirements, government incentives and practical pathways to home ownership in Queensland.

Learn more: McGrath Research | First Home Buyer Report | QLD