The Queensland government has doubled the grant for first homeowners in an effort to help young Aussies step onto the property ladder.
On Sunday, Queensland Premier Annastacia Palaszczuk announced that her government would double the popular First Home Owner Grant, taking the total for eligible first home purchases to $30,000.
To qualify for the grant, prospective first-time homeowners must buy or build a new home valued at less than $750,000.
Any homeowner entering into or after Monday, November 20, will benefit from the boost.
Ms Palacisuk said the increase would directly help first-home buyers looking to buy their first property amidst the country’s ongoing cost-of-living crisis.
“I know how much the cost of living is impacting Queenslanders, especially first-home buyers,” she said.
“Our government is committed to easing these pressures by delivering the largest cost of living relief package anywhere in the nation.
“I want to see homeownership rates continue to rise, which is why our government is stepping up to lend a helping hand.
The change will cost $210 million over the next 19 months, with the money raised through the government’s coal royalties regime.
The increase is set to support about 12,000 buyers by June 20, 2025, when the boost is set to expire.
Premier Palaszczuk said she hopes the grants increase would “put the dream of owning a first home within reach of more Queenslanders.”
Treasurer and Minister for Trade and Investment Cameron Dick says evidence of emerging capacity in housing construction makes now “the time to get more Queenslanders into their own home”.
The Minister for Housing, Meaghan Scanlon, said the grant is just one of the many ways the government plans to combat the nation’s housing crisis.
“We are delivering thousands and thousands of homes as part of our Big Housing Build,” said Ms Scanlon.
“We hope this helps put home ownership in reach for young Queenslanders.
“More than 200,000 forms of housing assistance were provided to Queenslanders last financial year alone.
“All Queenslanders should have a place to call home.”
The increase puts Queensland on equal footing with Tasmania as the states with the highest first homeowners grants, tripling the grants available in New South Wales and Victoria.
