First home buyer grants in Mackay (2026): what may apply at $550k, $650k, $720k and $780k

There are four main types of help for first home buyers in Mackay. Which ones you may be able to use depends mostly on two things: whether the home is new or established, and the price. Below is a plain summary of each, then four illustrative examples at prices you'll see around Mackay.

The four types of help

Queensland First Home Owner Grant: $30,000

This is for eligible first home buyers buying or building a new home valued under $750,000, including the land. It doesn't apply to established homes. The 2026–27 Queensland Budget continued the $30,000 grant for eligible contracts signed from 1 July 2026 and committed it for four years.

You need to move into the home as your principal place of residence within one year of completion and live there for six months in a row. For a build, the value is the building contract price plus the land value, and contract variations count too.

Transfer duty (stamp duty) relief

Eligible first home buyers pay no transfer duty on a new home, or on vacant land to build a home, for contracts dated from 1 May 2025. There's no value cap on this one.

For established homes, the first home concession means no duty on homes valued at $700,000 or less, and a partial concession for homes valued under $800,000.

From 1 August 2026, Queensland's home, first home and vacant land concessions are generally limited to Australian citizens, permanent residents and specified foreign retirees.

Australian Government 5% Deposit Scheme

Eligible first home buyers can buy with a 5% deposit without paying lenders mortgage insurance (LMI). The government guarantees up to 15% of the property value. Since 1 October 2025 there are no income caps and no limit on places. You must use a participating lender.

The detail that matters in Mackay is the price cap. In Queensland it's $1,000,000 for Brisbane and the regional centres (the Gold Coast and Sunshine Coast), and $700,000 for other areas. Mackay and the Isaac fall into the $700,000 group.

Boost to Buy (Queensland shared equity)

With a minimum 2% deposit, the state may take up to 30% equity in a new home or up to 25% in an existing home, so you borrow less. Income caps are $155,000 for individuals and $232,000 for couples or single applicants with dependants. The price cap is $1,000,000. Places are limited and you must use one of the scheme's lenders. Regional places are available in late 2026; places in South East Queensland have been taken up.

For context, the median house price in the Mackay local government area was $725,000 in the first half of 2026, according to Opteon. A typical Mackay house now sits just above the 5% Deposit Scheme cap.

Worked examples

Illustrative only. Each example assumes you're an eligible first home buyer, an Australian citizen, buying a home to live in, and that you meet each program's other rules. They show which programs may apply at each price. They don't show how much you can borrow.

$550,000 established home

• Grant: no, because the home is established.
• Transfer duty: no duty under the first home concession, as the value is $700,000 or less.
• 5% Deposit Scheme: may be available, as the price is under the $700,000 Mackay cap.
• Boost to Buy: may be available if you're within the income caps and a place is open, with up to 25% equity on an existing home.

$650,000 new home

• Grant: may be eligible for $30,000, as it's new and under $750,000.
• Transfer duty: no duty on a new home for eligible first home buyers.
• 5% Deposit Scheme: may be available, as it's under the $700,000 cap.
• Boost to Buy: may be available, with up to 30% equity on a new home.

$720,000 new home

• Grant: may be eligible for $30,000, as it's still under $750,000.
• Transfer duty: no duty on a new home.
• 5% Deposit Scheme: no. At $720,000 it's over the $700,000 cap for Mackay. Without the scheme, a deposit under 20% will usually mean paying LMI.
• Boost to Buy: may be available, as it's under $1,000,000.

$780,000 established home

• Grant: no. It's established, and it's over $750,000.
• Transfer duty: a partial concession, as it's under $800,000. You'll still pay some duty.
• 5% Deposit Scheme: no, as it's over the $700,000 cap.
• Boost to Buy: may be available, as it's under $1,000,000.

Things that trip people up

• Using programs together. Each program has its own rules. The Australian Government says its guarantee doesn't stop you accessing other housing support, but you need to check each program's own rules. We check this for your situation.
• Grant timing. The Queensland Revenue Office says not to rely on the grant as your deposit, because payment timing varies. It says applying through an approved agent, which is a bank or lending institution, is the fastest way to receive it.
• The 90-day window. Under the 5% Deposit Scheme, once you have a conditional pre-approval you have 90 days to find a home and sign a contract.
• Build variations. Variations to a building contract count toward the grant's $750,000 value test. A few upgrades can push a build over.
• Living in the home. The grant and the 5% Deposit Scheme both expect you to live in the home.

If you're weighing a new build against an established home, our construction loans page covers how building finance works. Our first home buyers page has the full picture of how we help.

Talk it through

Tell us the price range and suburbs you're looking at and we'll map out which programs may apply to you. Call or text 0458 773 002, or book a free assessment. For most home loans there's no broker fee; any fee is disclosed upfront in our Credit Guide.

Common questions

Sources

• Queensland Revenue Office: First home grant
• Queensland Revenue Office: First home grant eligibility
• Queensland Revenue Office: Apply for the first home grant
• Queensland Government ministerial statement: 2026–27 Budget, first home grant
• Queensland Revenue Office: First home buyer relief
• Queensland Revenue Office: First home concession
• Queensland Revenue Office: Changes to home concessions
• First Home Buyers: Australian Government 5% Deposit Scheme
• First Home Buyers: 5% Deposit Scheme property price caps
• Australian Government 5% Deposit Scheme Information Guide
• MFAA: Changes to the Australian Government 5% Deposit Scheme
• Queensland Treasury: Boost to Buy overview
• Opteon: Mackay Whitsundays residential property market insights, half 1 2026

This guide is general information only and doesn't take into account your objectives, financial situation or needs. Talk to us about your circumstances before acting on it. Related: First home buyers.