Queensland first home buyer Great Start Grant taken up by 5,000

Queensland’s Great Start Grant, offered to first home buyers buying or building a new house, townhouse or unit valued up to $750,000, saw 5,200 grants paid out, with 500 more approved and ready to be paid. This grant was announced in the 2012/2013 budget.

Treasurer Tim Nicholls said that Great Start Grants have seen the government pay out $79 million in grants through this scheme.

Of the buyers, almost 50% were in the greater Brisbane area, while almost 20% went those in north Queensland and more than 10% to those on the Gold Coast.

“We’ve had 24 consecutive months of growth in the total number of trend dwelling approvals,” said Nicholls.

“Approvals in January this year were 64.3% higher than in January 2012 in trend terms. 

“We expect that the construction sector will continue to improve in 2014 with sustained low interest rates and stronger household income growth,” he said.

The Great Start Grant offers $15,000 to eligible first home buyers.