It’s not all doom and gloom for eligible homebuyers in the ACT

1. Background

Did you know that in 1993 the median house price in Conder ACT was $48,500.00? By 2018 that median house price had increased to $581,375.00. This represents a change in the median house price of 1098.7% in 25 years, and an average annual change of 10.4%.

As of May 2026, this has crept up to $911,000.

2. The Current Position for First Homeowners

It’s clear that wages have not grown at the same speed as house prices and it has become tougher and tougher for people to break into the housing market, particularly first homeowners. For many, stamp duty costs have served as a major barrier preventing them from making the leap into home ownership.

In recognition of the challenges, State and Territory Governments have, over the years, offered various forms of assistance. Stamp duty concessions are just one of several schemes that have been operational for several years.

For example, if you are a first homeowner in the ACT, you are currently eligible to claim a stamp duty concession if the home is under $1 million and you meet all 4 of the following eligibility requirements (unless you are eligible for specific exemptions):

(a) You are an individual, 18 years old or over. This means that companies and trusts are not eligible.
(b) Your (and your domestic partner’s) income is less than the relevant threshold.
(c) You (and your domestic partner) meet certain prior property requirements.
(d) You live in the home as your principal place of residence continuously for a minimum of one year.

3. What Has Changed?

3.1. For first homeowners

From 1 July 2026 the ACT became the first jurisdiction in Australia to completely abolish stamp duty on ‘eligible transactions’ for all ‘eligible first home buyers.’

To benefit from the concession the following criteria apply:

(a) eligible home buyer means an individual(s) who is the buyer of an eligible property;
(b) eligible transaction means a transfer to an eligible home buyer on or after 1 July 2026 that meets the following requirements:
(i) all eligible home buyers acquire both a legal and an equitable interest in eligible property on completion of the transaction; and
(ii) on the transaction date, all eligible home buyers and their domestic partners (if any) have not held a legal or equitable interest in land within the previous 5 years, other than an allowed interest; and
(iii) at least one eligible home buyer will own and occupy the eligible property to meet the residence requirement; and
(c) eligible property means a home or vacant land.

This concession will apply regardless of how much an eligible home buyer earns and the value of the property to be purchased.

3.2. Off the plan unit titled properties

For contracts exchanged on or after 1 July 2025, there was no duty on off-the-plan owner occupier unit purchases valued at $1,020,000 or less.

From 1 July 2026, stamp duty will be eliminated for ‘eligible’ unit titled properties. This will be beneficial for those Canberrans that may be looking to downsize or move to more compact housing like apartments and townhouses.

3.3. Expanded concessions

Provided certain conditions are met, stamp duty exemptions will also be expanded for:

(a) pensioners; and
(b) eligible National Disability Insurance Scheme (NDIS) participants.

4. What Should you Do?

If you are considering entering the property market or downsizing but the costs associated with stamp duty have been a barrier, now may be the time to take that step.

Conditions apply, so if you are ready to make a change and you need further information about the concessions that may be available to you, contact Canberra lawyers.

MV Law Canberra

Ph: (02) 6279 4444

Email: info@mvlaw.com.au