Queenslanders looking to buy their first homes are celebrating after the state government announcement that it will increase the Great Start Grant for 12 months.

The grant — which will now go under the name of the Queensland First Home Owners’ Grant — is set for a radical overhaul and will be one of the key components of the Queensland Labor Government’s state budget. The key part of the change is an increase in the grant from $15,000 to $20,000 beginning on 1 July, according to the Brisbane Times.

Announcing the increase at a Queensland Media Club gathering earlier this month, Treasurer Curtis Pitt said the restructure would better position Queensland in the first homeowner property market.

“This is a great time to build in Queensland … and the Palaszczuk government’s First Home Owners Grant will make it even easier to enter the property market,” he told attendees at the lunch.
Designed to help first homeowners get into their property, the grant is available on all first home purchases up to the value of $750,000. This includes townhouses, apartments, granny flats, dual income properties and units as well as new houses.

By raising the Queensland First Homeowners’ Grant to $20,000, the Queensland Government has shown that it is aware of the need to encourage first home buyers to invest in getting their first home. In doing so, it is looking to promote the state as a relatively affordable housing market for first homeowners.

Interested in finding out more about how the team at Build or Built and the first homeowners’ grant can help you get into your first property? Contact us and learn how we can help you get into your first home, either already built or to be built.

Our mortgage managers can offer easy finance solutions, with very competitive rates and you can select no or low deposit land and home packages (depending on the available price range) to suit your requirements.

Take advantage of the increase in the grant and get into your first home far sooner than you expected!