Effective today, eligible first-home buyers in Queensland can get $30,000 as a First Home Owner Grant. This is double the previous grant amount of $15,000.
- The changes will apply to eligible transactions between 20 November 2023 and 30 June 2025.
- First home owners are expected to be able to apply for the increased grant from the first week of January 2024.
It’s been estimated that doubling the grant from $15,000 will help around 12,000 homebuyers purchase their first home by June 2025.
Why Did Queensland Double The First Home Owner Grant?
Premier Annastacia Palaszczuk said, “I want to see home ownership rates continue to rise, which is why our government is stepping up to lend a helping hand. The existing first home owner grant has been very successful, which is why our government is doubling the grant program.”
Adding to that, Treasurer Cameron Dick said, “Queensland’s strong budget position gives us the flexibility to adapt to changing conditions like this by reinvesting the proceeds from progressive coal royalties.”
Finally, Minister for Housing Meaghan Scanlon said, “All Queenslanders should have a place to call home. Helping first-home buyers is just one of the many ways our government is responding to national housing pressures.”
Who Can Get The $30,000 Grant In Queensland?
- The value of the new home or new build must be less than $750,000.
- The property can be a house, unit, townhouse or even a granny flat built on a relative’s land.
- Even kit homes or modular homes are accepted.
We’re Here To Help
Are you buying your first home in Queensland? Our mortgage experts are eager to help you apply for the grants and schemes applicable in Queensland. Call us on 1300 889 743 or enquire online today.