Stamp duty is the cost everyone forgets until their conveyancer mentions it, and suddenly the budget is $30k short.
Here's where things actually stand in 2026, and it's more interesting than usual.
The basics
Stamp duty, officially transfer duty, is a state tax on property purchases. It's calculated on a sliding scale, so the more you pay for the property, the higher the rate. It varies by state, by whether you'll live in the property, and by whether you're a first home buyer.
On a typical purchase it runs into the tens of thousands. It's usually the single biggest cost at settlement after the deposit.
The Queensland story
Queensland quietly became the most generous state in the country for first home buyers.
Since 1 May 2025, first home buyers purchasing a new home or vacant land to build on pay zero stamp duty. No price cap. Signed contract, new home, duty of nil.
Buying an established home as your first? The first home concession applies under $800,000 and can save you up to $24,525.
One change to note from the June 2026 state budget: from 1 August 2026, these concessions require you to be an Australian citizen, permanent resident or specified foreign retiree. For the full picture on stacking Queensland's schemes, see our breakdown of the $30k grant and how it all fits together.
Everywhere else
NSW gives first home buyers a full exemption up to $800,000 and concessions to $1 million. Other states run their own schemes with their own thresholds. Non-first-home buyers pay full freight everywhere, and investors typically pay more than owner occupiers in some states.
The point is the same everywhere though. A few thousand dollars of purchase price either side of a threshold can swing your duty bill by five figures. Knowing your number before you set your budget isn't optional.
Work out yours in 30 seconds
Our stamp duty calculator gives you the figure for your state, price and buyer type instantly.
Run it before you settle on a maximum budget, because your real ceiling is purchase price plus duty plus costs, not the number in your pre-approval.
One more thing
Duty thresholds are also a negotiation tool. If a property can be secured just under a concession threshold, the saving is real money, and it's exactly the kind of margin a professional negotiator fights for.
Converta matches you with a vetted buyer's agent who knows your market and negotiates with the full cost picture in mind. Free, no obligation, first call within 24 hours.
Sources: Queensland Revenue Office, Revenue NSW, 2026.