As the cost of living rises and rental prices continue to increase, purchasing property on the Gold Coast offers a compelling alternative for first-time home buyers. Recent legislative changes and financial incentives make the dream of homeownership more achievable than ever. 

Gold Coast housing shortage 

The Gold Coast is currently facing a housing shortage due to the lack of affordable homes and rental properties. This has led to rising rents and increased competition in the rental market, making it harder for residents to secure housing.

Several factors have contributed to this crisis including: Population growth, particularly following the pandemic, has significantly increased demand for housing. Low interest rates have further fueled this demand, encouraging more buyers and investors.

However, there has been a lack of investment in building and purchasing new properties, limiting supply. Additionally, construction bottlenecks have created delays, making it difficult to keep up with housing needs.

The effects of the housing shortage

The effects of this shortage are being felt across the community. Rents have risen sharply, forcing some families to relocate. Limited housing availability has given landlords and property investors more control over the market, making it even more challenging for tenants. Young professionals, in particular, are struggling to find affordable homes, impacting their ability to live and work in the region.

Here's why 2025 is shaping up to be a landmark year for property buyers in the region:

1. New Legislation Eliminating Stamp Duty up to $700 000 for First-Home Buyers

The Revenue Legislation Amendment Bill 2024, introduced to Queensland Parliament, abolishes stamp duty up to $700 000 on new builds and land purchases for eligible first-home buyers. Anything thereafter will need to be covered by the owner.

This change represents a significant cost saving, helping young Queenslanders and families enter the property market with reduced upfront expenses. These savings lower the barrier to entry, enabling more people to transition from renting to owning while encouraging new housing developments to meet demand.

2. Queensland First Home Owner Grant (FHOG)

The First Home Owner Grant provides up to $30,000 to eligible buyers purchasing or building a new home.

Eligibility and Timing:

Transactions must be signed between November 20, 2023, and June 30, 2025.

Applicable to new builds, including house-and-land packages, townhouses, and apartments.

This grant, combined with the elimination of stamp duty, significantly reduces the upfront costs of homeownership.

3. Affordable Deposit Requirements

With schemes like the FHOG and the Regional Guarantee, first-home buyers can purchase properties with a deposit as low as 5%.

Why This Matters:

The lower deposit requirement enables buyers to save for their home faster.

It opens the door to ownership for individuals and families who might otherwise remain in the rental market.

This is especially advantageous on the Gold Coast, where renting can often cost as much—or more—than mortgage repayments.

4. The Gold Coast Advantage

The Gold Coast remains one of Queensland's most desirable locations for first-home buyers, offering:

Lifestyle Benefits: Beaches, outdoor activities, and a thriving cultural scene.

Economic Growth: Investment in infrastructure, job opportunities, and urban expansion.



Strong Investment Potential: Demand for properties continues to grow as the population increases.

5. Support for Regional Housing Supply

These government incentives not only benefit first-home buyers but also encourage developers to build more homes. This is critical in addressing housing shortages and stabilising property prices on the Gold Coast and beyond.

By purchasing property in 2025, first-time buyers can take advantage of favourable conditions, securing their future in one of Australia's most dynamic and sought-after regions.

 Stage 1 of The Mill Residences will be complete in May 2025, starting from $725 000!

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