Time to get a grant

First home buyers have only a few weeks to qualify for a $20,000 grant which will be reduced to $15,000 in the new financial year.

TIME is running out for first home buyers to secure a $20,000 First Home Owners Grant with a deadline of June 30.

The Queensland Government’s First Home Owners Grant (QLD FHOG), offers a $20,000 grant but it will revert to its previous amount of $15,000 in the new financial year.

First home buyer specialist Sarah Zawadzki from Collins House Property Group said she was inundated with inquiries from Gold Coast families interested in buying their first property.

“The demand for new house and land packages is overwhelming,” Ms Zawadzki said.

“It started to pick up towards the end of April and now I am getting so many calls and emails from first home buyers wanting to get into the market that it is taking days to respond.”

Ms Zawadzki said the most in demand suburbs were Oxenford and Maudsland with up to 10 home buyers inquiring per property.

“The further out the property is the fewer inquiries there are,” she said.

“The hardest part about securing a property for these buyers is getting the deposit, so they are looking into house and land packages and using their First Home Owners Grant. It really is turning into a race to the finish-line.”

CBRE’s Residential Projects Director Nick Clydsdale said it was a case of first in best dressed for first home buyers.

“The Gold Coast continues to exhibit buoyancy, sound market fundamentals and growth,” Mr Clydsdale said.

“First time buyers just need to know where to look for the opportunities,” he said.

Mr Clydsdale said there are projects on the Coast designed to help first home buyers who are on tight budgets.

“There are specific incentives available to younger buyers ...” he said. “At Otto in Mermaid Beach, first home buyers can build their deposit while their home is being built.”

Morris Property Group has designed a project with first home buyers in mind at Otto, Mermaid Beach.