No stamp duty rates to help first home buyers
First homebuyers in Queensland will find it easier to get into the property market from this week as the State Government abolishes stamp duty on homes up to $500,000 in value today.
Queensland Treasurer Andrew Fraser says the change should inject new life into the state's housing market.
"There's no doubt that the housing market has taken a bit of a hit from rising interest rates," he said.
"There's a lot of anticipation out there about these new stamp duty cuts providing a much welcomed, a much needed, boost into the property sector and that will be welcomed by industry in particular."
Mr Fraser says first home buyers in the state may finally be able to consider buying a house "This really provides an affordability window," he said.
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