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Queensland First Home Owners' Grant increase to 20k from 15k (starts 1/07/2016)

Discussion in 'General Property Chat' started by hpresident, 21st Jun, 2016.

  1. hpresident

    hpresident Well-Known Member

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    link

    what's everyone's though on this increase? Will this boost more toward the lower end first home buy market (ie. better parts of logan, north lakes, springfield lakes ect) or more established brisbane suburbs?

    Anyway good news for those invested in Queensland
     
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  2. hash_investor

    hash_investor Well-Known Member

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    brand new home
     
  3. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    It will mean a lot of first home buyers will be waiting 10 days to sign contracts. No real change beyond that.

    There's be a feeding frenzy if they dropped the amount though. The last time I saw this, the first home buyer market went balistic prior to the grant reduction.
     
  4. samiam

    samiam Well-Known Member

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    Not enough incentive to increase fho activity in market?
     
  5. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    The fact that it's changing will create some interest which would create a slight increase. A $5k difference isn't that consiquential though. Lenders still have genuine savings requirements which haven't changed.
     
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  6. samiam

    samiam Well-Known Member

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    only for new houses
     
  7. big max

    big max Well-Known Member

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    Lower end boost for sure, especially in cheaper areas with new house in the 400-500K range.
     
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  8. samiam

    samiam Well-Known Member

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    boom for @Tekoz
     
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  9. Tekoz

    Tekoz Well-Known Member

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    @samiam thanks for remembering me in your thread mate :cool:.
     
  10. Big Will

    Big Will Well-Known Member

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    Developers get another $5,000 per property/unit.

    It will not make any impact as $5,000 is 1% in $500,000 hardly going to change the landscape. It would be like an ant mound being called a mountain.

    Like Peter said banks look at genuine savings as the best sort, any gifts or bonuses are not worth as much as actual savings.
     
  11. Greyghost

    Greyghost Well-Known Member

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    It just inflates the market by that amount, simple.
     
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  12. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Could this slightly drop the demand for existing properties though, incl Tekoz's (when he or his neighbours eventually sells in say 3 years or so years time)? The winners are the developers and large land holders.
     
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  13. Angel

    Angel Well-Known Member

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    One of my young colleagues is now seriously house-hunting in FHB-land whereas three months ago she was still dreaming about a shiny new home in a leafy middle-class Brisbane suburb with a budget that was hopelessly not going to get her what she really "wants".
     
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  14. Angel

    Angel Well-Known Member

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    Don't you worry about that :) Being the Qld govt, they will probably run out of funds and close this down again within three years.
     
  15. Tekoz

    Tekoz Well-Known Member

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    Well, Finally QLD State Govt. hear the FHB prayer, so it is good new for them and the economy in QLD as well.

    :cool:
     
  16. Tekoz

    Tekoz Well-Known Member

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    They should've bought in Park Ridge last year.
    The price was still affordable in early 2015.
     
  17. Angel

    Angel Well-Known Member

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    Tekoz, do you actually know anyone who lives in Park Ridge? It is about an hour's drive from where I live and work. I know this is incomprehensible to anyone who lives in Sydney, but I actually live less than 3 kilometers from my workplace. I drive there in about five minutes unless I have to wait for any traffic lights.
     
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  18. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Nice.... i'm 9.3km from work as the crow flies but I take about 45-50 mins to get there...walk-bus-walk. Parking costs $$ if I want parking in the building otherwise i'd have to walk about 15 mins from parking the car.

    Not really efficient to push bike ride to get there either... no great quiet bike path from home.
     
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  19. HUGH72

    HUGH72 Well-Known Member

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    Long way from the CBD but not that far from some of the industrial areas like Acacia Ridge and Archerfield etc.
    Or the GC.
    Sometimes you have to travel longer distances, In the past I travelled from Sunnybank to Redcliffe. Not fun.
     
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  20. Tekoz

    Tekoz Well-Known Member

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    No, I I do not know. But one thing for sure is that I don't live there :)
    but surely the infrastructure is improving there in Logan area.

    Note: At least Logan is better than Ipswich LGA which is categorized as LSE like Mt. Druitt :eek: