Queensland first time buyer grant doubles
Queenslanders received a welcome boost today (September 10), after the state government announced it will increase the first time buyer grant - helping more people get a foot on the property ladder.
State premier Campbell Newman said the initiative would help more Queenslanders into their own home, with the first home buyers grant more than doubling from $7,000 to $15,000 for newly constructed dwelling or residential properties off the plan.
"This great initiative will entice more people into the property market and make homeownership more affordable," Mr Campbell explained.
"We want to see more Queenslanders buying their first home and this grant will certainly give home buyers a great head start."
The Queensland First Home Owner Construction Grant, which offers the country's highest monetary incentives for purchasing new dwellings, is likely to attract more property investment in the state, as well as boosting the local building sector.
State treasurer Tim Nicholls said the initiative would bolster activity within the residential property construction industry, injecting more cash flow and creating more jobs in the field.
"This First Home Owner Construction Grant will provide a targeted and sustainable injection of confidence to the construction sector."