$10,000 incentive for Queensland buyers.



As of August 1st 2011 - existing property owners are likely to pay more to purchase a home in Queensland while building or buying a new home gets cheaper.

Whether you're a first-home buyer or whether you're an investor, the $10,000 grant will be offered to anyone purchasing a new home in Queensland valued up to $600,000.

Queensland is expecting a boost in new home sales, with the offer of a 10,000 incentive starting on August 1st 2011.

The state government expects 14 thousand new homes will be purchased under the new 140-million dollar program, starting on August 1st 2011 and running until January 31st 2012.

New home sales in June dropped 17 per cent in Queensland, while falling only 10 per cent in Victoria and 1.8 per cent in New South Wales, according to figures released by the Housing Industry Association.

In QLD from August 1st 2011:

First home buyers purchasing a new home
  1. No mortgage duty or stamp duty for properties under $500,000;
  2. $10,000 Queensland Building Boost for newly constructed properties valued up to $600,000;
  3. $7000 First Home Owner Grant (existing).

First home buyers purchasing existing home
  1. No mortgage duty or stamp duty for properties under $500,000;
  2. $7000 First Home Owner Grant

Existing home owners buying a new home
  1. Stamp duty increase of up to $7175;
  2. $10,000 Queensland Building Boost for newly constructed properties valued up to $600,000.

Existing home owners buying existing home
  1. Stamp duty increase of up to $7175 for properties.

The boost is aimed at getting the building industry back in business, supporting jobs and stimulating economic activity.

August 2011
Source: http://www.qld.gov.au/