Queensland Building Boost Grant Extended
Building boost grant gets 3 month extension
The Queensland Government announced last week that they will be extending the $10,000 building boost grant, following a surge of applications in the run up to the original deadline of 31st January 2012.
The grant is available to Queenslanders buying or building a new home worth less than $600,000 and the State Government hopes extending the grant will assist in continuing to stimulate the construction industry in Queensland.
The stimulus package is still well under its $140 million budget but the State Government says it is gaining traction. The new deadline for applications has been pushed back to the end of April 2012.
Treasurer Andrew Fraser said “What we’ve seen in recent times is the confidence in the property market begin to pick up. We’ve seen from the information released by the Property Council yesterday that confidence was increasing.”
“We’ve seen a solid result in building approvals this week and critical to that has been the building boost, so what we want to make sure is that the recovery that started is in fact supported.”
“That’s why we’re responding to the industry request to extend the boost”.
He went on to say that the three-month extension will not cost more than the $140 million originally allocated for the grant in the budget. “Certainly this is the industry’s request to extend the boost,” he said. “The Government provided an allocation which can accommodate this extension. That’s why we’re responding to the industry demands to be able to ensure that we deliver infull the boost that the property market needs”.