Builders feel the pinch Grant cut hits home
bettina. THE state government’s decision to reduce the First Home Buyers Grant by $ 5000 will have a detrimental impact on an industry already feeling the economic pinch, the region’s peak builders association says.
Master Builders Association North Queensland regional manager Melissa Coulter said Townsville builders who relied on first home buyers for business were concerned the reduction in the grant, from $ 20,000 to $ 15,000, would mean a reduction in work in the region.
“The builders in Townsville who rely on first home buyers are saying they are disappointed the boost had not been extended further, as there is no denying it was a foot in the door for first home buyers,” she said.
“The rise in first home buyers entering the market since the $ 20,000 First Home Owners’ Grant was introduced, in July 2016, is striking, as is the flow- on effect to the building industry.
“There is no doubt that this deci- sion will have a detrimental impact on a number of businesses.”
The state government announced in its budget that from July 1, the First Home Buyers Grant would be cut.
Hinchinbrook MP Nick Dametto said he had called on the government to make the grant available to those wanting to buy an established home in North Queensland.
Mr Dametto recently put forward a briefing document to Deputy Premier Jackie Trad and Assistant Minister Glenn Butcher which included recommendations to broaden the First Home Buyers’ Grant to better capture those living in regional Queensland.
“If the government truly wants to represent all of Queensland in these type of schemes, they need to acknowledge the needs of first home buyers and the unique circumstances of the real estate market in regional Queensland,” Mr Dametto said.
“Not a lot of new homes are being built in smaller regional centres, however, there is a glut of established homes. Making the grant available for these homes will be a big attraction for younger people to remain in regional Queensland and help grow the regional economy.”