First Home Grant increased to $20,000
Added on by Etairos Accounting
It's just been announced that the Queensland First Home Owners' Grant will be lifted to $20,000
From 1 July 2016 the Great Start Grant will be known as the Queensland First Home Owners’ Grant. The Queensland Government has also announced a one-off, 12-month boost of $5,000 to the grant, which will now be worth $20,000, starting 1 July 2016.
Queensland State Treasurer, Curtis Pitt, recently announced the increase at the Queensland Media Club. The grant is currently $15,000 for buyers of newly constructed homes.
"We will lift the current $15,000 grant for buyers of newly constructed homes to $20,000,” Mr Pitt said."The grant will be able to be used to buy a newly constructed house, apartment or townhouse valued less than $750,000.
According to the treasurer this is a great time to build in Queensland with affordable housing on offer and the Palaszczuk Government’s first homeowners grant making it easier for first home buyers to enter the property market.
To be eligible for the $20,000, first home buyers will have to have entered a contract of purchase on or after 1 July 2016.
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