Alford Grove is thrilled to share the recent announcement by the Palaszczuk Government, which is set to significantly benefit first home buyers. The government has taken a monumental step by doubling the First Home Owner Grant, elevating the total grant to an impressive $30,000 for eligible first home purchases. This exciting development, effective from Monday 20th November, makes Queensland the home to the equal highest First Home Owner Grant in Australia, surpassing grants available in New South Wales and Victoria threefold.
This substantial increase aims to support approximately 12,000 buyers in realising their dream of homeownership mid-2025, coinciding with the expiry of the boost. The Palaszczuk Government plans to utilize funds from the progressive Coal Royalties regime to empower first-time homeowners. Over the past three years, the government has already assisted more than 24,000 households in acquiring their first homes through $365 million in grants.
It’s the latest move aimed at helping people get into the property market and increasing new home building. "The existing first home owner grant has been very successful, which is why our government is doubling the grant program - meaning eligible first home buyers will receive $30,000 cashback," said the Premier.
The Treasurer has highlighted Queensland's robust budget position, enabling flexibility to support initiatives that foster homeownership. "Queensland’s strong budget position gives us the flexibility to adapt to changing conditions like this, by reinvesting the proceeds from progressive coal royalties." This strategic move aligns with the government's goal to ensure all Queenslanders have a place to call home, aligning with the broader efforts to address the national housing challenges.
This increase in the First Home Owner Grant is another significant step toward making homeownership more accessible and attainable for first home buyers. As we celebrate this positive development, Alford Grove remains a premier destination for those seeking to build their dream homes, benefitting from not just a thriving community but also favourable government incentives.
If you've been considering taking the leap into homeownership, there has never been a better time, and Alford Grove is excited to be part of this journey with you. For more information and eligibility visit the Queensland Government website.
Alford Grove makes no representation or guarantee as to eligibility for the First Home Owners' Grant, as eligibility for this grant is determined solely by the Queensland Government. For more information on this grant, including the eligibility criteria and any exceptions, you should contact the Queensland Government directly or view Queensland Government publications regarding the grant. You can visit the Queensland Government website for the grant at the link above.