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Queensland Budget 2015 Makes First Home Buyers Happy

June 25, 2015

In the upcoming state budget 2015, there comes a good news for first homebuyers residing in Queensland.

Mr Pitt speaking at a Property Council lunch on Wednesday confirmed that the state’s first homeowners grant put in place by the Newman Government would stay.

First homebuyers are being offered a grant of $15,000 towards a home they buy or build by Great Start Grant. From its inception in the 2012-13 budget to the end of May 2015, more than 12,000 people had taken up the grant.

Mr Pitt said, “Dwelling investment has grown by 11 per cent over the year to the March quarter, and investment commitments for the construction of new dwellings increased in the March quarter to the highest level since February 2008, up $625 million“.

The plus point was the low interest rates and the housing sector of Queensland has not that much hot as that of the southern states.

Mr Pitt further added, “Through careful financial management, we were able to absorb those write-downs, and the multi-billion dollar cost of rebuilding from natural disasters, while also reducing Labor’s forecast $85 billion debt”.

The government would be sticking to its commitment to deliver “operating surpluses over the forward estimates over the economic cycle“, he said.

After a brief sojourn as acting Premier, with both Annastacia Palaszczuk and Jackie Trad out of the country on trade missions later this week and early next week, Mr Pitt will return to solely focusing on his first budget, which will be handed down on 14 July.

News Source: http://www.brisbanetimes.com.au/queensland/queensland-budget-2015-good-news-for-home-buyers-bad-news-for-state-20150624-ghwo32.html

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