A new homebuyer grant in Queensland will serve to bolster the affordability of Australian property in the state, according to the Property Council of Australia.
The $10,000 (£6,524) grant to new homebuyers will also help to stimulate the Queensland property industry, it added.
Kathy Mac Dermott, Queensland executive director of the Property Council of Australia, said the Queensland Building Boost is an "excellent" initiative for the community.
"The grant will allow thousands of families to access a new home. It will also protect jobs in the housing development sector throughout the state," she added.
Ms Mac Dermott explained that people can receive a $10,000 grant for any new house or apartment that is priced up to $600,000 and is bought or contracted between August 1st 2011 and January 31st 2012.
Last month, the Australian Bureau of Statistics revealed that the number of first-home buyers, as a percentage of total owner-occupied housing commitments, increased from 14.9 per cent in February to 16.0 per cent in March.
Posted by Ravin Chatlani
The $10,000 (£6,524) grant to new homebuyers will also help to stimulate the Queensland property industry, it added.
Kathy Mac Dermott, Queensland executive director of the Property Council of Australia, said the Queensland Building Boost is an "excellent" initiative for the community.
"The grant will allow thousands of families to access a new home. It will also protect jobs in the housing development sector throughout the state," she added.
Ms Mac Dermott explained that people can receive a $10,000 grant for any new house or apartment that is priced up to $600,000 and is bought or contracted between August 1st 2011 and January 31st 2012.
Last month, the Australian Bureau of Statistics revealed that the number of first-home buyers, as a percentage of total owner-occupied housing commitments, increased from 14.9 per cent in February to 16.0 per cent in March.
Posted by Ravin Chatlani
