Home build­ing boost

Port Douglas & Mossman Gazette - - NEWS - SAM SMALLBONE

REAL es­tate agents and builders are see­ing a spike in land and house sales as home buy­ers start tak­ing ad­van­tage of the State Gov­ern­ment’s $10,000 Home Build­ing Boost grant.

The Queens­land Gov­ern­ment Build­ing Boost Grant is for a per­son or cor­po­ra­tion buy­ing or build­ing a new home in Queens­land for a value less than $600,000.

The grant is avail­able from Au­gust 1 to Jan­uary 31, 2012, and aims to as­sist in the re­cov­ery of hous­ing con­struc­tion, the state’s third-largest job-gen­er­at­ing in­dus­try.

NQ Homes di­rec­tor Cindy Small said the boost grant has been a great ben­e­fit to the build­ing in­dus­try and the com­pany is see­ing ev­i­dence of im­prove­ments.

“Our in­quiry has tripled when we looked at our traf­fic sheets and our sales per month have dou­bled,” Ms Small said.

“The mar­ket has been stale but since they in­tro­duced the boost grant it has rein­vig­o­rated the lo­cal build­ing in­dus­try in our re­gion.”

Port Home Loans lend­ing man­ager Si­mon Cody has al­ready helped three couples ap­ply for the Home Build­ing Boost Grant to build a house inn then re­gion.

“We have al­ready signed up three couples who pur­chased the land in July and waited un­til Au­gust 1 to build their home,” Mr Cody said.

The rates of stamp duty, also known as trans­fer duty, also changed on Au­gust 1 for non-first home buy­ers, per­ma­nently re­mov­ing the con­ces­sion on new or es­tab­lished homes used as a prin­ci­pal place of res­i­dence.

ECU Aus­tralia’s chief ex­ec­u­tive of­fi­cer Brett Myles said his credit union branches had seen an in­crease in home loan in­quiries since the boost started.

“The re­sponse to date would in­di­cate the build­ing boost grant is a pos­i­tive ini­tia­tive which should stim­u­late de­mand for con­struc­tion home loans,” he said.

“When you com­bine the $10,000 build­ing boost with the $7000 first home own­ers grant, home own­er­ship be­comes much more affordable.”

Port Dou­glas and Moss­man Rain and Horne prin­ci­pal David Cot­ton said there has been an in­crease in the in­quiries and sales since the boost grant was first an­nounced and started.

“It will def­i­nitely boost the lo­cal econ­omy be­cause there will be more con­struc­tion hap­pen­ing,” he said.

Sign­ing up: Matt Grif­fin and Stephanie Mam­mone ap­ply for the Build­ing Boost Grant

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