the adviser logo

Opposition slams QLD building scheme

by Staff Reporter8 minute read
The Adviser

The Queensland government's building boost program has failed to hit the mark with potential home buyers.

According to the government, the scheme, which gives a $10,000 grant to buyers of new homes worth up to $600,000, was expected to attract 14,000 people but has so far attracted just 3,206.

Earlier this week, Queensland's acting premier Andrew Fraser encouraged Queenslanders to take advantage of the program before it ends on January 31.

Mr Fraser said with the recent rate cuts and price falls, there has never been a better time to get into the property market.

But deputy opposition leader Tim Nicholls said the program was "another Labor fizzer", as figures revealed that only 6 per cent of the grant's budget had been spent while housing approvals slumped to a 10 year low in Queensland.

"With less than eight weeks left to run and just $9 million of the budgeted $140 million approved, this scheme is shaping up to be another financial fizzer from this tired, 20 year old Labor Government," he said.

"When you consider Labor has spent more than a million dollars advertising this scheme with fake money and trips to Sydney and Melbourne, it's obvious the program was more about saving Labor's political skin than fixing the problems in the housing and construction industry.

"The failure of the Building Boost follows the failure of the regional First Home Owners Grant boost in the previous Budget. Two years in a row Labor has announced one off cash handouts for housing and two years in a row the schemes have flopped."

Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more