Home grant gets mixed reaction
THE change to the First Home Owners Grant in the budget has received mixed reviews on the Fraser Coast.
While builders and developers are overjoyed with a decision to overhaul the grant, making it more generous but no longer applicable to existing homes, real estate agents are warning it could actually hurt first-time buyers.
Earlier this week, local developer Kerry Campbell said the decision to increase the grant from $7000 to $15,000 when buying a newly built home would be a boost for both builders and buyers.
Real Estate Institute of Queensland chief executive Anton Kardash, however, said the majority of first homebuyers did not look at newly built homes and so would miss out on the $15,000.
"The main reason for this is that new homes are usually too expensive for first-time buyers and are often located in outlying suburbs where young people do not necessarily want to live," he said.
President of the Fraser Coast branch of the UDIA Daniel Poacher said he understood the concerns of real estate agents, but that in the long run they would benefit from the changes to the grant.
He said encouraging the construction industry to build more homes would ultimately help the whole economy, including real estate, by creating more jobs.
"It is a massive plus for the Fraser Coast," Mr Poacher said.
- The First Home Owners Construction Grant is for first homebuyers who are buying a newly built property
- The FHOCG replaces the First Home Owner Grant which was $7000
- First homebuyers who are about to buy an existing dwelling will have until October 11 to finalise their contract to be eligible for the $7000 grant