The Queenlsand Government has decided to extend the $10,000 Building Boost program, despite the program attracting little interest to date.
Earlier this month it was revealed that the program had attracted just3,206 buyers - a far cry from the anticipated 14,000 people.
But while the program has failed to attract a lot of interest, its extension was welcomed by key industry figureheads.
“Any initiative which helps the Queensland property market is always welcomed and the extension of the boost until 30 April will likely assist hundreds of extra buyers into a new home,” Real Estate Institute of Queensland CEO Anton Kardash said.
“However, while our property market is starting to show signs of recovery, the removal of the principal place of residence concession on stamp duty last year continues to act as a deterrent to many buyers of both established and new homes,” he said.
The $10,000 Queensland Building Boost is available to buyers or builders of new Queensland homes under $600,000 who sign a residential contract on or before 30 April 2012.