Call to expand buyers’ grant
T O WN S V I L L E ’ S h o u s i n g market would improve if the State Government expanded its First Home Owners’ Grant to include pre- existing homes, as well as new homes.
That is the opinion of Real Estate Institute Queensland Townsville Zone chairman Wayne Nicholson.
The First National Nicholson managing director said Townsville had a “massive” number of established homes available to buy between $ 200,000 and $ 300,000.
“It’s logical to offer assistance to people who can’t afford a newly built home – which costs at least $ 320,000/ $ 330,000 in Townsville – to buy a home within their budget in the early to mid $ 200,000s,” he said.
“Townsville has so much stock of homes under $ 300,000. Offering assistance to new home buyers who want to buy a second- hand home would open up that lower end of the market. Townsville’s economy needs that stimulation and the Government can help do that.”
Mr Nicholson said he supported new home builders, wanting the Government to maintain its $ 20,000 first home buyers grant for newly built homes.
“But my wish would be that the Government expand its First Home Owners’ Grant to include second- hand stock,” he said. “The Townsville market is stagnant because the Government has tried to address the issue from the top and not the bottom.”
Felix Reitano of Felix Reitano Real Estate in Ingham called for the Government to reinstate the First Home Owners’ Grant for pre- existing homes, which was a former state government initiative.
“Many young people cannot afford the expense of a new home and the reintroduction of this grant would give them the opportunity to buy a home in their home town,” he said.
“Virtually all homes for sale in the Ingham district are preexisting homes and some as low as $ 100,000.”
Acting Premier and Treasurer, Jackie Trad said the State Government provided a first home owners’ grant for the purchase of newly constructed dwellings to help more people into home ownership ( under $ 750,000).
“This initiative is designed, in part, to incentivise the construction of new housing to