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Queensland
InvestAus
Grant
Those buying new homes in the hope of getting the government’s $25,000 HomeBuilder cashback are being warned to consider their plans carefully as they may not get the grant.
The scheme is available for buyers of newly built houses or units, provided the building contract is signed off by December 31. Those who struggled to get their building contract signed off by the December 31 deadline would be unable to get the $25,000, Ms Bakos said.
“They may find that they are holding a contract that sees them bound to complete the sale without the grant that propelled them to purchase in the first place,” she said. The HomeBuilder scheme was made available in June. It is available for buyers of new homes on an income of less than $125,000 if buying alone or $200,000 if buying as a couple, according to government guidelines.
The grants are only available for properties priced under $750,000.
Source: x
HomeBuilder grant: New home buyers warned to think...
Those intending to buy new homes to get the $25K HomeBuilder cashback have been warned vital fine print could mean they don’t get the government grant even after commencing building.
www.realestate.com.au
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21D ago
Liam
Grant
The new Federal Government HomeBuilder grant is set to ignite affordable locations and further help first-timers across the nation. The program will be of huge assistance to the construction sector over the next six months, which is good news for everyone given the industry’s importance to the overall health of our economy. The eligibility criteria of the scheme, including maximum income and purchase price limits, means that it will likely benefit first home buyers as well as buyers in more affordable areas the most. The HomeBuilder grant program will provide $25,000 for the construction of a new property, which for first home buyers will be additional grant funds to what is already available.
In most states, there are First Home Owner Grants for the construction of new homes already in place.
In NSW, it is up to $10,000, in Victoria, the grant is up to $20,000 (depending on the location) and in Queensland, it is $15,000. So, with all of these schemes and incentives bundled together, it’s fair to say now is the best time to be a first-time buyer in a very long time! In some cities, like Sydney and Melbourne, that won’t buy you much real estate anywhere close to the city, but in others, such as Brisbane, it will. However, in the outer-ring and regional areas where property prices are more affordable the numbers change and with it so do the opportunities. With the maximum price point for the HomeBuilder program set at $750,000, I believe it will be the more affordable areas that will benefit the most. Details at:x
Home Building Grant to Benefit Affordable Areas an...
The new Federal Government
www.urban.com.au
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47 Views
1Mo ago
Sam2019
Grant
The government has unveiled the HomeBuilder scheme, which will see eligible owner-occupiers who are either building or undertaking a substantial renovation given $25,000 for doing so.
In an information package revealed overnight, the Treasury said HomeBuilder is a time-limited grant program designed to help Australia’s residential construction market bounce back from the coronavirus crisis.
HomeBuilder will provide eligible owner-occupiers, inclusive of first home buyers, a grant of $25,000 to build a new home or substantially renovate an existing home where the contract is signed between 4 June 2020 and 31 December 2020.
Construction works on the home must commence within three months of the contract being signed. “The ‘boost’ to the first home owner grant, which was a temporary, additional [$7,000]-14,000 grant in the wake of the global financial crisis, showed a similar outcome,” Ms Owen said.
Similarly for home owners, and first home buyers in particular, those looking to commit to a property purchase within the next six months would already have been saving a deposit and are primed to buy.
However, where this policy may create additional construction lies in the fact that it is pivoting decision-making from established property to new housing, likely to be skewed towards house and land projects. This is opposed to the first home owner boost (FHOB) in 2008.
“Even though the grant provided additional incentive for newly built property, 85 per cent of those temporary grants were awarded for established purchases,” Ms Owen said. Source: x
Why Morrison’s stimulus won’t have a long-term...
The Morrison’s stimulus package could create a vacuum effect where a huge demand in buyer activity is brought forward before a significant drop thereafter, new research has indicated.
www.smartpropertyinvestment.com.au
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36 Views
1Mo ago
John
Grant
The $25,000 HomeBuilder stimulus for anyone signing off on construction of a new property has sparked a land rush, with developers reporting a 70 per cent rise in enquiries. “The Scheme complements the Queensland Government’s First Home Owner’s Grant, meaning an eligible purchaser could save up to $40,000. At our Aura community on the Sunshine Coast, for example, this could see a $380,000, three bed, two bath, one car freestanding home cost the customer approximately $340,000, with the potential for further concessions for those eligible. We are expecting local enquiry to increase following the government’s announcement.” Among those on the hunt were previous buyers who had delayed purchases during COVID-19 and buyers spurred on purely by the HomeBuilder grant and other incentives, according to Oliver Hume chief operating officer Julian Coppini. Nicola and Owain George were among Queensland families who were thrilled with HomeBuilder, having signed off on land at Stockland’s Baringa development, north of Brisbane. Source: x
HomeBuilder sparks QLD land rush - realestate.com....
The $25,000 HomeBuilder stimulus for anyone signing off on construction of a new property has sparked a land rush, with developers reporting a 70 per cent rise in enquiries.
www.realestate.com.au
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44 Views
1Mo ago
Liam
Grant
EPS Property Search’s Patrick Bright has called the program a “massive gift” for Australian home owners who are looking to renovate, due to the potential to return a profit if done well. “For the best return on investment, avoid spending it on the things you cannot see,” he advised – especially if it’s not imperative. The buyer’s agent said creation of an outdoor entertaining area, upgrades to bathrooms and kitchens, and the installation of skylights would be ideal ways to splash the cash.
“When it comes to adding value, don’t underestimate the importance of the outdoor space and increasing privacy.”
He also touted the benefits of a functional floorplan, either by the addition or removal of internal walls. Get complete details at: x
How to get the most from the HomeBuilder scheme
There are plenty of options available for savvy owner-occupiers to receive terrific “bang for their HomeBuilder grant buck” and add value to their home, a buyer’s agent has flagged.
www.smartpropertyinvestment.com.au
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35 Views
1Mo ago
Justprop Team member
Brisbane City
FORTY-one bidders lined up for a midweek auction in Brisbane’s south west that saw seven properties sell under the hammer in one evening. “The activity in the market is quite extraordinary,” Ray White Queensland chief auctioneer Mitch Peereboom said.
“Buyer demand is strong which is creating serious competition and achieving outstanding sale prices.” Twelve properties went to auction through Ray White Sherwood-Graceville on Wednesday night with one property selling prior to auction and seven selling under the hammer. Get details on given link: x
Busiest auction week since Easter sees seven house...
We’re in the middle of the busiest auction week since mid-April and The Courier-Mail is celebrating with a 144-page real estate magazine.
www.realestate.com.au
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39 Views
2Mo ago
John
Grant
A $40,000 new-home buyers grant needs to be introduced within a month to avoid a potential “bloodbath” in the building industry, and save tens of thousands of Victorian jobs. Master Builders Victoria chief executive Rebecca Casson said the state government’s $2.7 billion building blitz, announced this week, and the reopening of display homes and sales suites would help the struggling sector.
But the introduction of a new-home buyers grant would “provide a more widespread recovery”, recouping some of the “frightening” job losses. But an Ernst & Young report commissioned by Master Builders shows a new-home buyers grant could save more than 28,000 Victorian jobs, provide a $7.2 billion lift to the wider economy, and create $4.75 billion worth of construction activity.
The modelling shows the grant could also lead to 4590 new homes being built across Victoria, providing vital support for 497 construction businesses, most of which are small family companies. Source: x
Coronavirus: New-home buyers grant could save 1000...
A $40,000 new-home buyers grant must be introduced immediately to help save tens of thousands of Victorian jobs and avoid a “bloodbath” in the sector, the building industry says.
www.realestate.com.au
0 Reply
40 Views
2Mo ago
Joshua
Proserpine
I am an NSW resident and looking to buy my first property in Australia as an investment property in Queensland suburb.
Property is off the plan House and Land package for a dual occupancy house and has a rental guarantee for 3 years.
Not sure if it is a good idea to do reinvesting in the current situation and that too in Queensland. Hearing positives and negatives both. Need suggestions on same.
1 Reply
49 Views
2Mo ago
Ranjit
Brisbane City
Millions exchanged hands this week as agents, buyers and sellers raced to beat the COVID-19 crackdown on inroom property auctions, while others embraced the start of livestreaming sales. Prime Minister Scott Morrison announced on Tuesday that all inroom auctions and group open homes would cease from midnight Wednesday, leading the industry to take the events fully digital, with bidding done online or over the phone.
This week was on course to be the biggest of the year for auctions, with Brisbane volumes up 52.2 per cent, compared with the same time last year, with 172 homes listed to go under the hammer, according to the CoreLogic Auction Market Preview.
“After the weekend, we should have a better idea on how this is going to impact the auction market going forward,” a CoreLogic spokesperson said. Among the virtual sales last night (Thursday) were 10 conducted through Ray White Queensland chief auctioneer Mitch Peereboom on the Gold Coast.
“These are online private auctions. Buyers register to bid, they are able to watch the auction live and bid via our platform. We are really excited about this creative solution because we know buyers want to buy and sellers want to sell. The property market is performing strongly and we welcome this new opportunity to deliver our clients the same outcomes (they would have achieved).”
Stuart McCrea of Place Estate Agency in Coorparoo said the industry could work around the safety measures introduced to protect buyers and sellers from coronavirus.
“The use of video walk-throughs, all these things, allow people to bid with confidence. When your dream home comes up you shouldn’t be worried about coronavirus.” Read more:x
Coronavirus: Millions in home sales as virtual rea...
Millions were exchanged in a bidding frenzy as agents, buyers and sellers raced to beat the COVID-19 crackdown on inroom auctions, while others embraced the start of livestreaming sales.
www.realestate.com.au
0 Reply
98 Views
4Mo ago
Ronie
Brisbane City
The way Australians buy and sell their homes changed overnight, with group onsite auctions and open homes now banned by the Prime Minister as part of measures to flatten the COVID19 curve. Here’s what’s going to happen now.
Fresh off the back of government calls for social distancing to become the norm nationwide, real estate industry peak bodies had braced for bans on group activities within the market, with major agencies also lobbying for the property sector to be allowed to operate under the new restrictions as an “essential service”. Prime Minister Scott Morrison last night named inroom and onsite auctions and open for inspections among the list of activities that would be banned from midnight tonight as part of measures to control the spread of COVID19.
First to respond last night was one of the country’s biggest agencies, the Ray White Group which sells one in eight houses in Australia and New Zealand.
Ray White Group managing director Dan White said in a statement that “it appears the scope of new business operating practices the group proposed earlier (Tuesday) to support the flattening of the COVID-19 infection curve has been endorsed as appropriate”.
‘No other restrictions were announced for either property management or sales businesses, subject to other restrictions on physical distancing and hygiene,” he said.
“The key message to take away is that all real estate onsite and in room auctions and open house inspections will be cancelled as of Wednesday night, but our members will still be able to host virtual property tours, private inspections and online/digital auctions, as we have been encouraging.” He said the industry would take heart from the PM’s statement that ‘all workers in the economy are essential’.
“We will carefully adhere to the latest restrictions,” Mr White said, which would provide “some challenges”, but were “necessary to face the current crisis”
He said many Australians relied on agents “to support them in renting, buying, selling and managing their homes. We are well prepared to do this”.
The PM’s announcement follows an early Tuesday call by the Real Estate Institute of Australia for significant changes to be made to the way all agencies conducted their business. “Past practice with open homes and public auctions needs to cease,” REIA President Adrian Kelly warned earlier in the day. Details:x
Sweeping changes for real estate - realestate.com....
The way Australians buy and sell their homes changed overnight, with group onsite auctions and open homes now banned by the Prime Minister as part of measures to flatten the COVID19 curve. Here’s wh...
www.realestate.com.au
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102 Views
4Mo ago
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