The Queensland government must bring in incentives for buyers of new homes to save Queensland's flagging property market, according to a number of industry commentators this morning.
Property analyst Michael Matusik was one of the most vociferous voices, arguing that stamp duty should be cut straight away.
"You can cut stamp duties for off-the-plan transactions tomorrow night," said Matusik on a blog directed at Queensland Treasurer Andrew Fraser. "You have been talking about it. So now do it. The writing is on the wall. You must stimulate housing demand."
Increases to both the regional relocation bonus and the First Home Owners Grant are also needed, continued Matusik.
"I don’t like either of these pump-priming measures, but the Queensland housing industry is getting desperate and we will take whatever we can get," he added.
Queensland Property Council chief Kathy MacDermott also called for government action.
"We need to expand support for first-home owners buying new dwellings and introduce a moratorium on land tax during construction of a residential development to make housing more affordable," she told the Australian.
Is the Queensland market dead in the water or about to boom? Check out the June issue of Your Investment Property for our investigation into the Sunshine State.
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out