First homebuyer rush to secure $20,000 grant by June 30

first_imgBeau and partner Lucy who are first home buyers. Time is running our to secure the $20,000 first homeowners grant which will revert back to $15,000 on July 1.IT’S a race to the finish line for first home buyers looking to secure the $20,000 Queensland First Home Owners’ Grant, which has assisted more than 250 locals since July 1.The popular building grant will be cut by $5000 on June 30, reverting back to its original sum of $15,000.So far, 258 first home buyers in Townsville have successfully applied for the grant, which has helped inject close to $5.2 million into local building and construction.With 512 dwellings approved by Townsville City Council between July, 2016, and April this year, first homeowners accounted for more than half of all new builds.Statewide, there have been 4100 grants approved, totalling $82.5 million, with Townsville figures accounting for 6.3 per cent of approved applicants.With 85 dwelling approvals between July and April this year, North Shore attracted the largest number of first home buyers. North Shore project director Andrew Astorquia said the last few months had been particularly busy.“We’ve noticed a big increase in first home buyers, more than last year, who realise that going from $15,000 to $20,000 makes a huge difference when buying a home.“Most of us don’t have a spare $5000.“There’s no doubt the grant has helped more first home buyers get their foot through the door.“I think it’s also important to note that the grant not only helped keep people in Townsville but keeps our builders and tradies working.”Townsville soldier Beau Gordon and wife Lucy are among the 258 Townsville locals spurred on by the $20,000 Queensland First Home Owners’ Grant.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“This is my second posting to Townsville and we decided that we wanted to own our own home, instead of renting,” Mr Gordon said.“We wanted to have a house we could come back to and live in if I get posted to Townsville again or leave the army. “Finance definitely played a part in actually getting the house sooner rather than later and the $20,000 grant definitely helped. With the grant reverting back to $15,000, we didn’t want to risk it.”Townsville MP Scott Stewart said the grant had helped keep the region’s building and construction industry afloat.“It’s hard to know what will happen after June 30, whether there will be the same uptake but with so many jobs on the horizon for us and all the green shoots we’re going to see, there’s no doubt that it will positively affect our building and construction industry well into the future,” Mr Stewart said.With just over a month left till the June 30 deadline, Mr Astorquia said it was not too late to secure the $20,000 grant.“All you need is a signed land and building contract which can be done overnight,” he said.“Of course those contracts are subject to finance so you have to make sure they are approved by the bank.“But besides that, it’s a pretty quick process.“So even though there are only few days left, you absolutely can still get it done and get approval before June 30.”last_img read more

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