Queensland first homeowner grants extended by one year

The Queensland government has extended its first homeowner grant scheme by 12 months, revealing an additional $60 million investment in the program less than three weeks before the state budget.

First homeowners buying either a new property or a substantially renovated one can apply for the $30,000 grant.

It was doubled in 2023 and set to revert to $15,000 at the end of June, but Premier David Crisafulli announced a one-year extension on Sunday. However, he said the government could not promise a further extension beyond that.

The state government has extended its first homeowner grants in a bid to get younger generations onto the property ladder.Credit: Dan Peled

Crisafulli said the extension was part of the state government’s plan to remedy housing supply issues, while also supporting younger generations wanting to buy a home.

“The reason we’ve seen that real jump in rents – but also house prices predominantly at that bottom end of the market – that haven’t been commensurate with wages has been because of a lack of supply,” he said.

“Rather than try to … convince people not to get into the property market, we’re doing the opposite – we’re trying to find ways to incentivise to build a home.

“This has the bonus of not just getting someone into their first home, but getting a new home into the mix.”

A Brisbane Times analysis in May found hundreds of homes across Brisbane were sitting empty, with many waiting on development approvals for higher-density housing projects or subdivisions.

The Brisbane City Council also announced in late May that it would review the city’s low-to-medium-density zoning rules, with an aim to increase density in the suburbs and reduce the pressure on inner Brisbane.

Crisafulli said the grants were not expected to affect house prices because their strict eligibility criteria made them specifically targeted towards first home buyers wanting new or renovated properties.

Premier David Crisafulli says the state government is drafting environmental protection plans aimed at koala populations in the south-east amid a rush to develop housing in the region.Credit: Nine News Queensland

The announcement pairs with the state’s new $47 million stamp duty laws, which came into effect last month and remove the tax for people building their first home.

“Together … they are the difference between somebody just not quite getting over the line, or saving up enough and then getting their foot in the door. If they miss out, it becomes that compounding effect,” Crisafulli said.

The government estimated the stamp duty changes had so far saved first-time buyers of new homes almost $17,000 on average.

Crisafulli also promised further support for “those who might be falling a little bit short” in the upcoming budget in three weeks, teasing a state-based shared equity scheme.

With new builds around Brisbane increasingly encroaching on bushland habitats and wildlife corridors, the premier also promised a “koala strategy” to protect the endangered species, and to increase the amount of state-protected land during his government’s term.

“The challenge is two-fold: one is expanding protected areas across the state, and we do have plans to do that, and … the second is we need to make sure we have defined areas in those growth corridors,” he said.

“I’m never going to walk away from the importance of housing ... but that doesn’t mean we can’t do more for the environment, and we will.”

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