The Queensland budget, announced 14th June 2011 has stated that a $10,000 grant will be available for constructing, or buying, a new home up to the value of $600,000, if contracted between 1 August 2011 and 31 January 2012.
This will be in addition to the Federal Governments $7,000 First Home Buyers Grant.
First home owners can therefore now receive up to $17,000 in grants, and if the property is under $500,000 then they are also eligible for ZERO stamp duty.
It will be worthwhile, to the tune of $10,000, for most buyers of new homes, to not buy anything between now, 14th June 2011, and the end of July. ie: Six weeks of minimal sales in the property industry.
To help the housing construction sector recover, the Government will provide a $10,000 grant towards the construction or purchase of a new home for six months starting 1 August 2011. Available for properties valued up to $600,000, the grant will be for everyone including first homebuyers, other homebuyers and investors.