Queensland first time buyers react to homeownership scheme
More and more Queenslanders are realising the 'great Australian dream' to buy their own home through the state government's first time buyer cash incentives.
Treasurer Tim Nicholls said between October last year and March 28, 805 people have taken advantage of the new $15,000 Great Start Grant - an initiative that aims to help more people make the transition to homeownership.
"I am pleased to reveal that the grant is off to a very positive start and I want to reiterate that the Great Start Grant is not a short term sugar hit. It's here to stay," Mr Nicholls commented.
"We announced the grant as part of the 2012-13 state budget to help more people enter the property market, stimulate the construction industry and help alleviate the housing shortage in regional resource communities."
In a further vote of confidence for Queensland's residential property sector, Mr Nicholls went on to say that several recent reports, surveys and studies suggest the industry is making a recovery - a trend underpinned by a resurgence in consumer confidence.
With land tax in the Sunshine State 20 per cent lower than the national average and transfer duty 12 per cent below the median, Queensland is an ideal "place to live, work, invest and do business", Mr Nicholls added.