First home buyers are among the big winners in the Queensland state budget, after it was announced the $20,000 First Home Owner’s Grant would be extended.
The grant, which was set to expire at the end of this month, will be extended for another six months until December 31.
“The Queensland First Home Owners’ Grant is a state government initiative to help first home owners to get their new first home sooner. Depending on the date of your contract, you’ll get $15,000 or $20,000 towards buying or building your new house, unit or townhouse (valued at less than $750,000). You can even buy off the plan or choose to build yourself. It’s a great opportunity to buy or build a new home in our great state.”
It offers first-home buyers $20,000 to purchase new houses, units or townhouses valued at less than $750,000.
Treasurer Curtis Pitt said 4900 applications worth $98 million had been approved so far, with more to be approved as house purchases by applicants proceed, demonstrating the success of the scheme.
He said extending the grant would further drive construction and economic activity.
“The Palaszczuk Government recognises how difficult it is for first-home buyers to get into the housing market,” he said.
“This is one of the most effective ways of helping families to get a start with a new home while simultaneously creating construction jobs and spurring on the economy.
“If all the approved grants leverage new dwellings of $750,000 they would represent almost $3.7 billion worth of activity.
“Queensland’s established housing market is also looking healthy, which is encouraging for homeowners across the state.
“However, we recognise that there are regions which need our assistance … This grant can have an even greater effect in regional Queensland, where $20,000 may be more than half of the 10 per cent deposit for a median priced house.”
Now is a great time to take the leap and secure the first home owners grant. Contact us for advice and view our range of new properties you can make your new home.