Stalled housing starts in QLD to pick up due to state government grant
- August 2, 2011
- Ayda Shabanzadeh
Recent figures just released by the Housing Industry of Australia have forecast a national fall of 13 per cent in housing starts over the two-year period 2010/11-2011/12, reaching a low of 143,770.
This is exactly the situation the Queensland State Government predicted for the local property market, and is what resulted in them announcing incentives between $10,000 and $35,000 for buyers of new homes. The amount of incentives you receive depend on the type and value of home you purchase and whether or not you are a first home buyer. However, the full incentive on new homes is only available until 31 January 2012 so interested investors and home buyers will need to act quickly.
The number of property investors and home buyers in Brisbane and around Queensland, particularly those under the age of 35, who will take advantage of this incentive over the coming months is likely to have a considerable impact on the housing start rates for the state. We predict that Queensland housing starts will rival and overtake that of other states and may even influence other states to introduce similar incentives to fuel their local residential building industry.
We are not surprised to have received a great deal of interest and queries from investors and first home buyers who are keen to take advantage of these incentives while they are available.