Queensland First Home Owner Grant Boosted to $30,000

In a significant move to support prospective homeowners, Queensland has doubled its First Home Owner Grant, now offering eligible first-time buyers an increased amount of $30,000, up from the previous $15,000 grant. This adjustment is effective immediately and will be applicable to eligible transactions conducted between November 20, 2023, and June 30, 2025. First homebuyers are anticipated to commence applying for the augmented grant starting the first week of January 2024.

The decision to enhance the grant is projected to assist approximately 12,000 homebuyers in realising their dream of homeownership by the culmination of June 2025.

Premier Annastacia Palaszczuk expressed her commitment to fostering higher rates of home ownership, stating, “I want to see home ownership rates continue to rise, which is why our government is stepping up to lend a helping hand. The existing first home owner grant has been very successful, which is why our government is doubling the grant program.” Treasurer Cameron Dick highlighted the state's robust budget position, emphasizing the ability to adapt to evolving circumstances, stating, “Queensland’s strong budget position gives us the flexibility to adapt to changing conditions like this by reinvesting the proceeds from progressive coal royalties.”

Minister for Housing Meaghan Scanlon underscored the broader context of addressing national housing pressures, asserting, “All Queenslanders should have a place to call home. Helping first-home buyers is just one of the many ways our government is responding to national housing pressures.”

The eligibility criteria for the $30,000 grant in Queensland stipulate that it is available for first-time buyers who are either purchasing or constructing their initial home within the state. The value of the new home or construction must not exceed $750,000, encompassing various property types such as houses, units, townhouses, and even granny flats built on a relative’s land.

For those embarking on the journey of acquiring their first home in Queensland, our team of mortgage experts is ready to assist you in navigating the application process for the available grants and schemes.

We have relationships with developers & builders all over south east Queensland and can help tailor the perfect first home package to suit your budget.

Feel free to reach out to us at (07) 5500 7000 or make an online inquiry today. More details & eligibility criteria can be found at qro.qld.gov.au