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Stamp Duty Gone: Big Break for First Home Buyers
The ACT Government has announced the complete removal of stamp duty for all first home buyers in Canberra, a change that will likely reshape both buyer behaviour and overall market momentum.
Yesterday’s ACT Budget announcement is already being recognised as a landmark shift for the Canberra property market. From 1 July 2026, first home buyers will be able to enter the market without this significant up-front cost, eliminating another obstacle of purchasing a property.
This comes after existing concessions for off-the-plan purchases, where eligible buyers could access stamp duty relief on new unit-titled properties up to approximately $1.02 million. Stamp duty concessions will now be widened to also include pensioners, eligible NDIS participants, and buyers returning to the market after at least 5 years without owning property.
Breaking the Deposit Barrier
For many buyers, stamp duty has been a major hurdle. Saving a deposit is one challenge, but saving tens of thousands more on top can often been the deal breaker.
With this cost set to disappear for first home buyers, the immediate impact is clear: improved access and faster entry into the market. In short, buyers who were previously on the sidelines may now be ready to act much sooner.
Push to Unlock Housing Supply
This reform is part of a wider strategy aimed at improving housing accessibility across the ACT. Alongside reducing transaction costs, there is a focus on increasing supply, particularly in medium density housing such as townhouses and terraces.
Lower costs alone can lift demand, but without supply, affordability pressures can remain. By tackling both sides of the equation, the policy is designed to support a more balanced market over time.
For buyers, this should translate to more choice and greater diversity in housing options. For the broader market, it signals a long-term commitment to sustainable growth.
More Opportunity, More Competition
Removing a major upfront cost is likely to bring more entry-level buyers into the market and change the pace of transactions.
We expect to see:
- Stronger competition in sought after locations
- Faster decision making from motivated buyers
- Increased confidence across the buyer pool
The takeaway is simple: opportunity is increasing and so is competition. Those who are informed, prepared and ready to act will be best positioned as the market responds in the months ahead.
With a range of properties available and suitable for first home buyers, our team is on hand to help you approach the market with confidence.
