First home buyers grant
The government said the new grant structure was about stimulating activity in the construction sector, which it has named as a key part of its economic recovery plan.
The $15,000 First Home Owner Construction Grant, replaces the $7000 first home owner grant, and will apply for first homes that are purchased new or off the plan from September 12.
First home buyers purchasing existing homes will have until October 11 to finalise contracts and claim the original $7000 grant.
Premier Campbell Newman said the focus on new properties would boost construction activity, entice more people into the property market, and make home ownership more affordable.
"This is now the most generous ongoing first home owner grant in Australia," he said.
Treasurer Tim Nicholls said the grant was about boosting confidence in the construction sector.
"We've already wiped up to $7000 off the cost of buying the family home by reinstating the principal place of residence transfer duty concession," he said.
"The first home owner construction grant is another component of our positive plan for this vital sector, which creates jobs for Queenslanders."
Mr Newman said the government had responded to industry concerns in changing the original first home owners grant.
Defending the changes, the premier noted the Master Builders Association had lobbied the government on behalf of the construction sector.
"The property and construction industry has seen very high unemployment in recent years and this is a targeted initiative to get it going again," he told the ABC.
The Property Council of Australia welcomed the changes, saying it would provide much needed stimulus in the construction and residential development sectors.
"A dollar spent on a new dwelling has a significant and far-reaching multiplier effect in the community, particular in terms of jobs and retail spending," Queensland executive director Kathy McDermott said.
The council, which represents property developers, investors and managers, said it was hoping the government would use the budget to announce a comprehensive review of all state taxes.
"We do need major reform around our property taxes, including stamp duty," she said.
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