Great Start for 5000 Queensland families

More than 5,000 Queensland families have taken the opportunity to buy their first home with the help of the Newman Government’s $15,000 Great Start Grant. 

Treasurer Tim Nicholls said the program announced in the 2012-13 Budget had now paid out more than 5,200 grants with almost 500 more approved and ready for payment. 

“We promised at the election to kick-start the construction industry, after it stagnated under the former Labor government, by encouraging new entrants into the housing market,” Mr Nicholls said. 

“That’s exactly what the Great Start Grants are doing. 

“The Government has paid almost $79 million in grants, leading to many millions more being injected into the construction industry as first home buyers purchase their new homes.” 

Mr Nicholls said almost 50 per cent of the new home buyers were in the greater Brisbane area. 

“We’ve also seen almost 20 per cent of the grants paid to home buyers in North Queensland and more than ten per cent to buyers in the Gold Coast region,” he said. 

“Construction is one of the four pillars of the Queensland economy and the Great Start Grant is helping to support the industry, delivering on our election commitments. 

“The results speak for themselves. 

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

“Approvals in January this year were 64.3 per cent 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.” 

General Manager - Residential with property group Stockland, Kingsley Andrew, said the Great Start Grant had created an unprecedented opportunity for many Queensland families to build a new home. 

“Many of these families are living in communities such as North Lakes, north of Brisbane, in close proximity to transport, schools, parks and shopping,” Mr Andrew said. 

“At Stockland we’ve seen a strong start to 2014 with land sales increasing across all communities as confidence returns to the market. 

“In the December quarter first home buyers represented almost half of our net deposits in Queensland, which proves that the Great Start Grant is working. 

“It’s been a terrific boost for first home buyers and has played an important role in creating jobs and boosting the construction sector,” he said. 

Mr Nicholls said the Great Start Grant was available to first home buyers, purchasing or building a new house, townhouse or unit valued at up to $750,000. 

More information about the grant and eligibility criteria is available at https://greatstartgrant.osr.qld.gov.au/.

[ENDS] 1 April 2014

Media Contact: Treasurer’s office 3719 7200