Australian Property News

Queensland building boost extended

Posted on Friday, January 13 2012 at 3:12 PM

Investors and homebuyers in Queensland now have an extra reason to buy off-the-plan properties, after the Queensland $10,000 building boost grant was given a three-month extension. The boost was supposed to end at the end of January, but will now expire at the end of April.

Housing Industry Association Queensland executive director Warwick Temby says the extension will help the home building industry gather some momentum.

“The boost had played a part in rekindling interest in building a home,” he says.

“Combined with the lift in affordability from lower interest rates and fierce competition among builders, the boost has made it a great time for building a new home.

“HIA had been concerned that the Christmas and New Year break was making it difficult for builders to finalise contracts to meet the previous end January deadline. The three-month extension has removed this problem for the industry.”

The building boost is available to Queenslanders buying a new home worth less than $600,000.