News

'Oversupply issues': Home owners grant slammed by REIQ

A DECISION to not change the First Home Buyers Grant, after pressure from the Gladstone mayor, has been slammed by a leading property market group.

REIQ says the State Government is not listening to regional Queenslanders, after a suggestion to extend the First Home Buyers Grant to existing homes was ruled out last week.

>> Fight to change $20K home owner's grant not over for mayor 

Gladstone's Matt Burnett was one of 13 Queensland mayors who signeda petition pleading for the grant to be extended from new to existing homes.

But the suggestion has been shut down by the State Government, which says it has no plans to change the grant any time soon.

REIQ CEO Antonia Mercorella said, "Our concern is for the long-term impact and the bigger picture in regional Queensland, where new construction is exacerbating the oversupply issues that these markets are facing".

"House values are falling, with some markets as much as 30% below levels five years ago. Continuously adding supply of housing to oversupplied markets is irresponsible and will slow down any future recovery.

Topics:  first home owners grant gladstone property real estate reiq


Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Chinchilla woman tells of 'life changing' trip to Cambodia

BRIGHTER FUTURE: The Community School of Hope is a small school based in Siem Reap, Cambodia.

Mellissa Johnston is on a mission to help Cambodia's children.

Monster melon takes out Big Melon Weigh-In

(L-R) Hydie, Bec, Kyron and Drew Sturgess of Sturgess Farming with their Big Melon Weigh-In winning melon, which pipped the scales at 75kg.

Monster melon takes out competition

'A Slice of Chinchilla' steals the show at Melon Art Comp

Chinchilla artist Dion Cross won the spatial construction category and the judge's praise at the Melon Festival Art Competition for "A Slice of Chinchilla”.

Giant watermelon has the tools to win top accolade

Local Partners

Paul Murray listens to regions

The man who can talk underwater is ready to listen and broadcast it back to the pollies.

Why Hollywood’s siding with Brad Pitt over Angelina Jolie

Jolie may have the kids, but Pitt has custody of Hollywood

Tensions high at pointy end of MKR's round two

Things are really heating up on My Kitchen Rules.

Games are being played around the My Kitchen Rules table

Jungle Jay sent packing from I'm a Celebrity

I'm A Celebrity ... Get Me Out Here! contestant Jay Laga'aia with Keira.

BIG friendly giant Jay Laga'aia has been eliminated from I'm A Celeb

Carson Kressley brings 'camp' to I'm a Celebrity jungle

"I am not all Park Avenue and daffodils” ... Carson Kressley.

Meet the "campest” campmate to star on I'm a Celebrity.

Star Wars: The Last Jedi mystery already solved

FILE- This undated file photo provided by Disney shows Daisey Ridley as Rey, left, and John Boyega as Finn, in a scene from the film, \"Star Wars: The Force Awakens.\" Hasbro said it is changing its Star Wars Monopoly set after an 8-year-old girl became upset that Rey, the movie's female heroine, was not included as a figure along with Darth Vader and Kylo Ren. (Disney/Lucasfilm via AP, File) MANDATORY CREDIT

A key mystery surrounding the title of episode eight has been solved

Kids' game "full of f**king paedophiles" according to dad

A mortified dad has expressed serious concerns over an online game

Expert: Why renters, home buyers may struggle

Matusik Property Insights director Michael Matusik.

What's next for the city's housing market

Massive seaside development of 3200 lots

DESIRABLE LIFESTYLE: The masterplan for the proposed Elliott Heads Estate.

"There's nothing else left along the coastline of Queensland now"

Potential home buyers punished for doing the 'right thing'

Should I go to university or buy a house?

50 more high rise buildings planned for Brisbane CBD

Height limits have been scrapped for Brisbane CBD

800,000 more people expected to work in city over next 20 years

New suburb in the crosshairs of Coast vandals

UNDER WRAPS: Graffiti on art installations at the entrance to the newly opened Bells Creek Arterial Road has been covered up.

Vandal rechristens Stockland as something less than complimentary

Ready to SELL your property?

Post Your Ad Here!