Queenslanders have one week left to secure $10,000 building boost

Queenslanders buying or building a new home worth less than $600,000 have just one more week to take advantage of the Queensland government’s $10,000 building boost grant.

Ahead of the April 30 deadline, there has been no announcement from the Newman government about a second extension of the building boost.

The deferred September 11 Queensland budget is expected to provide details of new home building incentives.

The building boost scheme kicked on August 1 last year with the aim of “igniting” new home construction in the state following the January 2010 floods.

The Bligh government had set aside $140 million for the scheme, but it has enjoyed a poor take-up with just 1,200 applications lodged as of December, equating to $12 million in handouts.

It was due to end on January 31 before being extended for a further three months on January 13.

Those buying or building a new home or buying off the plan must have entered into a contract by April 30 to receive the grant.

Completed application forms are only required by September 1, 2012.

The building boost is one of a number of state and territory home buying and building incentives that will be phased out over the coming months and years.

Four schemes are set to expire on June 30 and another two on July 1, among them the Victorian government’s $13,000 first home bonus and its $6,500 regional relocation grant.

 

 

 

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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