In a bid to battle the current cost of living crisis in Australia, the Queensland government will be boosting its First Home Owner Grant from $15,000 to $30,000.
On Sunday morning, Queensland Premier Annastacia Palaszczuk announced that the government would be doubling the First Home Owner Grant in order to help ease the pressure of cozzie livs for Aussies in the state.
The extra dosh can be used towards a granny flat, buying or building a new home valued under $750,000.
“I know how much cost-of-living is impacting Queenslanders, especially first home buyers,” Palaszczuk said in a statement that announced the bonus.
“Our government is committed to easing these pressures by delivering the largest cost of living relief package anywhere in the nation.
“I want to see homeownership rates continue to rise, which is why our government is stepping up to lend a helping hand.
“The existing first home owner grant has been very successful, which is why our government is doubling the grant program — meaning eligible first home buyers will receive $30,000 cashback.”
According to ABC News, the premier labelled the boost as a “big Christmas bonus” for Queenslanders who are hoping to enter the housing market.
“This our big Christmas bonus for our first home owners, and we understand that our families are hurting with big cost living pressures out there, and our government is making this small step to help people get into the market,” Palaszczuk said, as per the publication.
In the announcement, the government said it would be using money made available through the “progressive Coal Royalties regime” to fund the boost.
“We can only do this because we’re making sure coal companies pay their fair share,” Palaszczuk continued.
The extra money added to the grant — which will be implemented on Monday, November 20, up until mid-2025, when the scheme will expire — is expected to help 12,000 Queenslanders secure their first homes.