NO Extension of Qld First Home Owners Grant (FHOG)

Queensland Treasurer Curtis Pitt has ruled out any extension of the current $20,000 First Home Owners Grant (FHOG) beyond 30th June 2017. He has also ruled out extending the FHOG to include established housing.

Despite intense pressure from regional mayors, the Qld State Government has resisted extending the FHOG to include existing housing, believing this will have an adverse impact on the Qld housing industry.

The Message is Clear!

If you are a First Home Buyer wanting to get into your own home, there has probably never been a better time. Anybody hanging off in the hope of the current grant being extended beyond 30th June 2017 or being applied to established housing will no doubt be disappointed. The time to buy is Now!

The current $20,000 FHOG is the best offered by any Australian state government and is unlikely to be repeated. Despite adverse economic conditions in some regional areas, the Qld State Government has resisted approaches from various bodies including the real estate industry to expand the grant to established housing.

Treasurer Pitt argues expanding the FHOG to include established housing will do little for the housing industry, with job opportunities likely to be impacted negatively through lower demand for new housing.

This is not a shock to the team at OurNewAddress. The whole idea of increasing the FHOG to $20,000 in the 2016 Qld state budget was to stimulate jobs within the housing industry. Expanding the grant to include established housing does nothing to increase job numbers across the wider construction and allied industries.

Time is Running Out

At the time of writing this blog, First Home Buyers have 135 days left to lodge their application for the current $20,000 FHOG. That may seem like a long time but, given how long lenders are currently taking to process/approve finance for our clients, anybody seriously interested in purchasing should probably get the ball rolling.

Selecting an estate in which to build your dream home, and thereafter a house design to meet your requirements can be quite time-consuming. The team at OurNewAddress can certainly take the stress out of selecting a suitable block and a house design that fits your available budget.

Ready to Purchase

If you're looking to purchase before 30th June 2017, check out the range of estates OurNewAddress have available. If you don't find what you're looking for on our website, contact us and let's see what we can do to assist you, and make sure you can take advantage of the current $20,000 FHOG... before it's gone.

www.ournewaddress.com.au/getting-started Contact us today.