Off-the-Plan Purchases in 2026: Don't Sign Without a Thorough Contract Review
As January 2026 progresses, the Australian property market is showing signs of moderation after strong 2025 gains, with national house prices expected to rise 5-7% this year (led by outer-metropolitan and regional areas in Queensland and Victoria). Off-the-plan buying continues to offer a compelling entry point for new apartments, townhouses, or units—allowing buyers to lock in current pricing, benefit from developer incentives, and position for completion uplift in high-demand growth corridors.
In Victoria, the temporary off-the-plan stamp duty concession—extended until 20 October 2026—remains a major incentive. Eligible buyers (including investors, companies, and foreign purchasers) can deduct 100% of outstanding construction costs from the dutiable value, often reducing stamp duty to about a quarter of the standard amount and delivering average savings of $24,000–$28,000 (depending on project stage). In Queensland, strong incentives like the extended $30,000 First Home Owners Grant (for eligible new homes or off-the-plan contracts signed before 30 June 2026) continue to support first-home buyers in coastal and outer areas.
However, off-the-plan contracts are significantly more complex than standard purchases. They often include provisions that differ substantially, such as:
Progress payments during construction
Potential variations to plans, materials, or finishes
Sunset clauses (with developer rescission rights, subject to reasonableness requirements)
Developer obligations and disclosure details
Signing without expert scrutiny can expose you to delays, unexpected changes, or finance issues.
First Class Legal specialises in off-the-plan conveyancing for buyers in Victoria and Queensland (with dedicated support in growth areas like the Sunshine Coast and Gold Coast):
Comprehensive review of the Contract of Sale and Section 32 Statement (VIC) before you sign
Clear explanations of provisions unique to off-the-plan deals
Assistance calculating and understanding potential stamp duty savings or concessions
Guidance on your rights and obligations to protect you throughout the build-to-settlement journey
Their client-focused service ensures you enter the contract fully informed and confident, maximising incentives while minimising risks in this buyer-friendly period.
With the Victorian concession open until October and robust demand for new stock, off-the-plan remains a smart strategy—if the contract is properly vetted.
Ready to have your off-the-plan contract reviewed before signing?
Partner with specialists at First Class Legal - Off-the-Plan Purchases.
Have you had an off-the-plan contract reviewed recently? What surprised you most about the unique provisions? Share in the comments!
