The Qld Treasurer Andrew Fraser announced in the State Budget 08/09 tax reforms targeted primarily at first home buyers to help them enter the Qld Housing market. The first of these changes took effect 1 July 2008 and included the abolition of mortgage duty (savings of $0.25 per $100 borrowed) and the first home transfer duty concession increasing from $320,000 to $350,000 with no duty payable on first homes up to a value of $350,000.

From 1 September 2008, the added benefit of an increased first home transfer duty concession , with no duty payable on property up to $500,000 with the increased concession providing savings of up to $8750.

Added to the recent interest rates drop and the extra $$ provided by the First Home Owners Grant, the State & Federal Governments are providing greater opportunity for more Queenslanders to realize their dream of owning a home.

The Real Estate industry has already noticed the increase in buyer interest over the last week alone and predict that the market will regain its strength again.