Builder welcomes $15,000 grant
A MASSIVE increase in the grant for first homebuyers on a newly constructed property has been welcomed by local builders.
Premier Campbell Newman said first homebuyers would receive $15,000, up from $7000, when purchasing a newly constructed home or property off the plan, under the re-shaped First Home Owner Construction Grant.
Kerry Campbell in Hervey Bay said the increase was great news for the Fraser Coast building industry.
While his business, Kerry Campbell Homes, has a number of projects going at the moment, Mr Campbell was most excited about what the news would mean for the $50 million development he is undertaking on Doolong South Rd in Kawungan.
This development will fall under the Federal Government's Building Better Regional Cities program which brings a $10,000 rebate for purchasers.
When this is combined with the State Government's $15,000 grant, it means that first homebuyers who purchase one of the Kawungan houses next year could get $25,000 in total to help them out.
"It is a boost for the building industry and also a great help for first homebuyers," Mr Campbell said.
The first 27 out of a proposed 155 lots in the Kawungan development are due to be completed next year.
Premier Newman said: "This great initiative will entice more people into the property market and make home ownership more affordable."
Maryborough MP Anne Maddern labelled the new incentive as the "most generous ongoing first-home owner grant in Australia".
First-time homebuyers who signed a contract on or after September 12 would be eligible for the $15,000 grant.
Ms Maddern also pointed to benefits for local builders.
"The construction industry is one of the four pillars of the Queensland economy, along with tourism, agriculture and resources," she said.
"It is a major job generator and important to our local economy and the First Home Owners Construction Grant will help get the sector powering along again."
- The house must be your principal place of residence within one year of taking ownership for at least six months
- You must not dispose of all or part of the property within one year
- The property must be bought or built at a value under $750,000