New home sales slump 50pc across Qld
Posted
Updated
The MBA says the changes to the first homeowners grant cannot come soon enough. (ABC News: Gary Rivett)
Queensland's Master Builders Association (MBA) says new home sales across the state have slumped by 50 per cent in the past five months.
MBA spokesman Darren Barlow says it supports the Federal Government's $10.5 plan to boost the economy.
Under the proposal, the first homeowners grant for existing houses will double to $14,000 and will triple to $21,000 for those buying new homes.
"What we see this initiative as doing is to provide a bit of a boost into the consumer segment of the market where of course confidence is at an all-time low - to say to people to commit to their new housing and new dwelling construction," Mr Barlow said.
"The flow-on effects from that will actually be the supporting of employment within the construction industry. "
Mr Barlow says the changes cannot come soon enough.
"First homeowners going to build a new house - the more that particularly sub-section of the market will actually hold back and wait for the new laws to come in as opposed to spending that money today - so therefore the Government's caught in the horn of a dilemma whereby they need to pass these proposals into laws as quickly as possible," he said.
John Futer, from the North Queensland Housing Industry Association, also says the package will encourage more activity in the housing market.
"That's good news all around because we have very high population growth here in the north," he said.
"It's higher than the average around the rest of the country.
"We need to stimulate the housing industry and housing construction and this is obviously a very positive move."
