While acting on one election promise pitched to help ease historic housing affordability woes, the housing minister conceded others “won’t happen overnight”.
Queensland’s Housing Minister Sam O’Connor has urged people buying their first home to rent out a room after a change to rules that had previously meant doing so would cost them grants and concessions.Some experts have said the change could increase demand for larger properties which could, in-turn, further push up already high prices.
O’Connor said on Saturday: “We strongly encourage Queensland first home owners to take advantage of it … It’ll save you money, and it’ll put the roof over the head of a mate.”Previous rules around eligibility for first home owner grants and stamp duty concessions barred purchasers from the discounts if they rented out part of the home within one year of moving in.before the election. The LNP has also confirmed only two recent cases where a person had reported renting out a room.
About 20,000 first home buyers get the discounts each year, with one real estate expert suggesting the change could help ease first-year mortgage repayments, and some rental pressures.But they have also said it could increase demand for larger properties.
Acting Real Estate Institute of Queensland chief executive Kat Beavon welcomed the change, which she noted the group had called for as “one lever we can and should pull to offer relief”. While O’Connor echoed Labor’s past message it was doing all it could to help ease historic housing affordability issues, the LNP have alsois a state political reporter at Brisbane Times, where he has also covered city council and general news. He previously worked as a reporter for newspapers in Tasmania and Brisbane community radio station 4ZZZ.
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