Queensland first home buyers will receive a $5,000 boost to the Queensland First Home Owners’ Grant from today, giving them $20,000 to get into the market.

Treasurer Curtis Pitt said the building industry is a key contributor to economic growth and stimulating economic activity will create new jobs directly and indirectly.

“There will be many Queenslanders who may not think they can save a deposit towards a new home – so having $20,000 up front towards a new home will certainly help convince many people to buy sooner,” Mr Pitt said.

“The 12-month boost applies to the purchase of a newly constructed house or apartment under $750,000.

“Some may even use the $20,000 grant to snap up some of the units and townhouses that have been built or are under construction in the Brisbane CBD.

“This is going to be even more effective in regional Queensland, where $20,000 is more than half of the 10 per cent deposit on the median house price in many regional cities.

“This is a significant win for first home buyers.

“It’s also a significant win for the building industry by stimulating demand for new product, which will support thousands of jobs throughout Queensland through the construction phase.

“It’s an initiative that will create more jobs and help more people into home ownership.”

The Queensland First Home Owners’ Grant replaces the former Great Start Grant.

For more information on eligibility and how to apply, go to https://firsthomeowners.initiatives.qld.gov.au