Our View
October 23, 2012: Grants a bonus for some
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- Created on 23 October 2012
THE state government’s latest sweetener, an $8500 Housing Construction Grant for anyone building or buying a new home, will be a surprise bonus for some but won’t keep everyone happy.
Those who have recently purchased or built a new house will have sour grapes they missed out on the “free” money.
Additionally, those who have established properties on the market will be concerned this grant will entice potential purchasers to change their mind and build instead.
Those with vacant blocks will be hoping to make a sale to someone planning to take advantage of the grant and build.
The construction industry should be happy; with new home builds at their lowest levels in a decade, hopefully the grants will breathe some life back into the industry.
This will have a flow-on effect for all tradies and keep people in jobs.
First home buyers need to strike while the iron is hot. They can get $15,000 through the First Home Owners Grant if they decide to build or buy a new home. This is ongoing.
But as of June 30, 2014, the grant for first home owners who purchase an established home will be phased out altogether.
Essentially, this means those entering the housing market for the first time will be significantly better off purchasing something new or building from scratch rather than buying an existing home.
However, this could trick some young people excited by the prospect of a new home but unaware of the many additional costs such as a pergola, landscaping, fixtures and fittings, furniture, et cetera.
The “free” money will be eaten up quickly.
Leadership battle
The latest chapter in the Liberal Party state leadership battle came to a head today (Tuesday) with a party room showdown between Isobel Redmond and Martin Hamilton-Smith.
For anyone who cares, Redmond won by one vote. It was a numbers game and came down to who is friends with who and which side the alliances decided to side with.
The Labor Party simply enjoyed sitting back and watching the show.
The curtains have come down ... until the next leadership challenge.
Amie Brokenshire, Editor