Treasurer Curtis Pitt has announced a new First Home Owner Grant will form part of next week’s budget.
First Home Owner scheme would be boosted from $15,000 to $20,000 for buyers of their first newly constructed property under $750,000.
The scheme will run for 12 months from July 1 as the government looks to boost the construction industry in the midst of falling confidence in the building sector.
Curtis Pitt said “This is a great time to build in Queensland with affordable housing on offer and the Palaszczuk government’s First Home Owners Grant will make it even easier to enter the property market,”
However, foreign house buyers will be charged a new stamp duty of 3 per cent.
“This will ensure foreign purchasers of residential property who benefit from government services and infrastructure make a contribution to their delivery as local buyers do,” he said.
Under the foreign home buyer changes, purchasers will pay an extra $11,000 on a $365,400 home, as an example.
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