Queensland’s first home buyers are set to receive a boost from the State Government’s extension of a grant scheme. Image: Queensland Department of Housing and Public Works.
The Queensland Government has extended its First Home Owner Grant in an effort to relieve cost-of-living pressures in the state.
The grant will continue for another year, until 30 June, 2026. The policy, enacted by the previous Labor government, is centred on a $30,000 grant for new builds and was due to expire at the end of this month.
This extension follows Premier David Crisafulli’s abolition of stamp duty for eligible first home buyers who purchase or build a new home in Queensland.
The boost to the First Home Owner Grant applies to eligible buyers or builders of new homes with contracts signed between 20 November, 2023, and 30 June, 2026. For eligible owner-builders, the foundations must be laid between the two dates and the value of the land and the home must be under $750,000.
“We are unlocking the door to home ownership for thousands more Queenslanders who have been locked out from their first home for too long,” Mr Crisafulli said.
“Boosting the First Home Owner Grant and delivering on our promise to abolish stamp duty for first buyers on new homes is also driving more homes to be built across our state.
“It’s more money back in the pockets of first-time buyers, putting the great Australian dream back within reach.”
The government acknowledged in its statement that Queensland was lagging behind other states when it came to home ownership rates, and the administration was committed to raising home ownership to the highest level nationally within a decade.
The government also said that since coming into effect last month, the policy had saved first-time buyers an average of $16,996.
In addition, recent policy amendments mean that first home buyers can rent out a room to ease payments towards a mortgage. The government expects 3000 Queenslanders to benefit from the scheme.
Treasurer and Minister for Home Ownership David Janetzki said: “Supporting first home buyers in Queensland is about creating opportunities, removing financial barriers and making home ownership a reality for more Queenslanders.
“Every Queenslander deserves a place to call home, and we’re committed to keeping the great Australian dream of home ownership alive in this state.”
