How the Christmas and New Year Holiday Period Affects Property Contracts in Queensland (REIQ & Off-the-Plan Guidance)
As the Christmas and New Year period approaches, it is crucial for buyers and sellers in Queensland to understand how public holidays and the end-of-year shutdown affect contractual timeframes.
This article explains how REIQ contracts, off-the-plan contracts, and cooling-off periods operate during the festive season and what you should be aware of when planning settlements.
🎄 Introduction
As the Christmas and New Year period approaches, it is crucial for buyers and sellers in Queensland to understand how public holidays and the end-of-year shutdown affect contractual timeframes.
This article explains how REIQ contracts, off-the-plan contracts, and cooling-off periods operate during the festive season and what you should be aware of when planning settlements.
1. How “Business Day” Is Defined Over the Christmas Period
Under the standard REIQ Contract, a Business Day means any day other than:
a Saturday or Sunday;
a public holiday at the place for settlement; and
27 to 31 December (inclusive).
Practical effect
If a condition or settlement date falls between Thursday 25 December 2025 and Thursday 1 January 2026, the due date will automatically roll forward to the next business day, which is Friday, 2 January 2026.
This impacts due dates for:
finance approval
building and pest
special conditions
settlement
2. Settlement Extensions Close to Christmas
Most REIQ Contracts allow either party to extend settlement by up to 5 business days.
When a settlement date is already close to Christmas, the automatic rollover combined with this 5-day extension may result in settlement occurring in the first week of January 2026.
Why this matters
This can affect:
removalist bookings
lease end dates
bridging finance
interest or penalty fees
availability of banks and agents
We strongly recommend discussing Christmas-period settlement risks with your conveyancer or solicitor before signing a contract.
3. Off-the-Plan Contracts: A Different Definition of Business Days
Unlike the REIQ contract, many off-the-plan (OTP) contracts define business days without the 27–31 December exclusion.
They usually exclude only:
Saturdays
Sundays
public holidays
Consequences
If titles register close to Christmas, the seller may:
issue a settlement notice during the Christmas break, or
require settlement in early January, even while many offices are closed.
Buyers should prepare for shorter notice periods and ensure finance arrangements are ready well ahead of registration.
4. Cooling-Off Period Continues to Run
The cooling-off period in Queensland is 5 business days from the day the buyer receives the fully executed contract.
Unlike condition due dates, cooling-off DOES NOT pause during the 27–31 December period.
For 2025, cooling-off will continue to run on:
Monday 29 December
Tuesday 30 December
Wednesday 31 December
Implication
If you sign a contract between Christmas and New Year, you must be aware that cooling-off days will continue to count.
This is especially important if you experience buyer’s remorse and wish to terminate under cooling-off.
5. Practical Tips for Buyers and Sellers
✔ Avoid scheduling settlement immediately before or after Christmas where possible
✔ Ensure finance, building and pest, and searches are ordered early
✔ Confirm bank availability over the holiday period
✔ Seek legal advice before signing if the contract falls within the festive period
✔ Clarify how your specific contract defines “Business Day”
Conclusion
The festive season can significantly impact contract timeframes in Queensland.
Understanding these rules early can help avoid delays, unexpected rollover dates, or financial consequences.
If you would like a contract review or advice on your specific situation, our team can assist.