Queensland's mortgage borrowers are now carrying some of the heaviest debt-servicing burdens in the country.
The Real Estate Institute of Queensland (REIQ) welcomed the government's commitment of $12.3 billion to housing — calling it a budget that doubles down on the sector — but was clear that money alone won't solve the problem. The most significant omission is the one clients feel most directly: stamp duty reform is absent again.
The context makes that gap hard to ignore. Nationally, mortgage repayments consumed a record 50.8% of median family income in the March quarter — and Queensland was second worst at 53.2%.
Stamp duty rules are now diverging sharply across Australian jurisdictions, and Queensland is falling behind.
The REIQ has long flagged the levy as a persistent barrier to homeownership and market fluidity — particularly for upsizers, downsizers, and those re-entering the market after time away. Despite Queensland abolishing stamp duty for first home buyers purchasing new builds from May, the REIQ argues that broader reform — covering established homes and a wider cohort of buyers — remains out of reach.
REIQ CEO Antonia Mercorella (pictured) cited the ACT directly: "These are the types of bold reforms that improve mobility, unlock housing supply, make better use of existing stock and attract buyers to Queensland."
Stamp duty revenue in Queensland has also been revised down in the 2026–27 estimates relative to 2025–26 actuals — further evidence, the REIQ argues, of the volatility of relying on transaction-driven income to fund public services, and a compelling reason to transition to a more efficient system.
Every dollar absorbed by stamp duty is a dollar not available for a deposit — and in a market where saving a 20% deposit in Brisbane now takes close to 12 years, that friction compounds quickly.
The absence of new housing taxes was itself a relief. With recent Commonwealth budget changes adding complexity to the sector, Mercorella said Queensland's decision to hold the line on taxation settings was critical for market confidence.
"After recent federal budget changes that have added complexity and uncertainty to housing, we're relieved to see a steady hand on the tiller in Queensland," she said.
The $12.3 billion in housing commitments spans supply activation, social housing, homelessness services, and first-home buyer assistance. A further doubling of the Residential Activation Fund to $1 billion was welcomed — an acknowledgement that infrastructure costs remain one of the biggest bottlenecks to new housing delivery.
Continued investment across the Land Activation Program, Infrastructure Activation Fund, and State Facilitated Developments was also welcomed.
A record $5.7 billion social and community housing programme received a further $1.024 billion over five years. Funding continuity for frontline homelessness services was maintained with a $450 million boost, alongside $83 million in rental assistance and an additional $18.5 million for the Residential Tenancies Authority.
Broader structural reform, however, remains absent.
"Funding alone won't resolve the housing supply imbalance," Mercorella said. "We need to see ongoing progress in planning reform, tax settings, and construction productivity to ensure these investments translate into real housing outcomes."
The $30,000 First Home Owner Grant continues, backed by $72 million over four years, alongside ongoing funding for the $330 million Boost to Buy shared equity scheme. The REIQ acknowledged both as practical deposit support — but flagged a meaningful gap in coverage.
First-home buyers in regional Queensland, where new builds are scarce, are frequently excluded from grants that apply only to new construction. The REIQ is pushing for the FHOG to be extended to established dwellings.
Whether Queensland faces renewed pressure to follow the ACT's lead before the next Budget cycle will depend, in part, on how much further stamp duty revenue continues to slide — and how loudly the industry keeps making the case.
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