Exciting News for Queensland Residents with an Increase to the First Home Owners Grant
With the Budget set to be handed down on the 14th of June, Treasurer Curtis Pitt has announced a new First Home Owner Grant to form a critical part of it. The First Home Owner scheme will be boosted from $15,000 to $20,000 for buyers for their first newly constructed property under $750,000.
The scheme will run for 12 months starting from July 1 as the government looks to boost the construction industry in the midst of falling confidence in the building sector, making it easier to enter the property market.
"The new $20,000 grant will instil more confidence in our building sector, as well as more jobs, and help more people into home ownership.
The First Home Owner grant announcement also included a sting in the tail for foreign investors, with Mr Pitt also announcing a change of heart over slugging international buyers of residential property with a surcharge, with a 3 per cent transfer duty surcharge set down in the coming budget.
To read more about what this means for Queensland Residents you can click below: