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Property News

Queenslanders offered a boost to buy or build new home

February 13, 2012

Following the recent floods, some residents in Queensland may be considering buying residential property. Whether a decision to move comes out of necessity or choice, there is always a question of funding.

One option may be to take advantage of the Building Boost Grant, a state-funded program that offers financial assistance to potential property buyers. The program has already been running since last August, and the deadline for applications has been extended until April 30 2012.

The grants are available to homebuyers and builders, first-time buyers, and property investors in amounts of either $10,000 or $17,000 depending on their relating category.

The government has also allocated relief funds to flood-affected communities to get their homes and businesses back in running order.

Prime minister Julia Gillard recently announced grants of up to $25,000 in addition to the Australian Government Disaster Recovery Payment (AGDRP) of $1,000 per adult and $400 per child, as well as the funds donated jointly by the Australian and Queensland governments under the Natural Disaster Relief and Recovery Arrangements (NDRRA).

Whatever the reason for building, affected Queenslanders have the opportunity to take advantage of one of these assistance packages and invest in a promising future.

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