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Incentives for first home buyers proposed

People hoping to buy Australian property in Queensland could be given financial help from the state government.
People hoping to buy Australian property in Queensland could be given financial help from the state government.

The Queensland premier Anna Bligh has outlined government plans to give incentives to first-time Australian property buyers.

She said the focus of the initiative is a AUS$4,000 (£2,300) boost for those looking to get on the property ladder through buying new Australian houses and apartments, the Courier Mail reported.

However, people looking to buy in greenfield development sites are faced with tolls for getting around the areas.

Ms Bligh said the schemes would tackle the state's rapid population growth.

"We think it's worth trying new ideas to encourage more people to look at regional towns and cities where they do want more growth, where they need new workers for big projects," she commented.

The extra financial aid for first-time buyers would take the possible grant total to AUS$11,000.

First-time buyers are due to return to the Australian property market over the coming months, BIS Shrapnel economist Jason Anderson told the AAP.

Posted by Steve Douglas
- property, buyers, first, grant

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