One in four buyers who received the Queensland government’s first homeowners grant in the last year are from the Logan-Beaudesert region.
This is the highest uptake of the grant in the state, with $13.3 million of the $58.6 million total going into the pockets of more than 760 local first time buyers.
The grant is for people buying or building a new home, or substantially renovating an existing one – whether it be a house, unit or townhouse.
Eligible applicants receive either $15,000 or $30,000 from the government.
Local mortgage broker Harry Senjaya said locals looking to buy their first home should consider applying for the grant, but it comes with a catch.
“It is a great deal,” Mr Senjaya said.
“But the property has to be brand new, and they are not easy to get, and the price is a bit higher.”
He said for many first home buyers, building or buying a brand-new property is not an option.
“There is not a lot registered land that is available… so you have to wait to start construction,” Mr Senjaya said.
“The building process can take six to 12 months, so you won’t be moving to your new home until 2026 probably,” he said.
“That’s a challenge.”
It’s not just the waiting that proves challenging, according to Mr Senjaya.
He said many buyers have to pay rent in the current home while waiting for their new one to be built.
“And once the land has settled, the loan on the land has already started, even though they are still in the construction stage,” he said.
“There used to be a lot of brand-new homes – townhouses, units – but people have to wait now.”
In Logan, a significant portion of these grants is expected to benefit rapidly growing suburbs such as Chambers Flat, Logan Reserve, and Park Ridge.
Developments built in the last few years, including a 300-lot community in Park Ridge (2023) and a 749-lot community in Logan Reserve (2021), have quickly sold out – in part due to first home buyers snapping them up.
Developers said they expected much of the same again for future projects.
“Through the success of our sellout community Chambers Ridge, we have seen the consistent market appetite for available homes in the Logan Reserve area, particularly from young, growing families and first home buyers,” AVID Queensland general manager Anthony Demiris said.
“Value-driven first-home buyers continue to seek out affordable new residential communities where they can take advantage of the first-home owner grant incentive and stamp duty exemptions.
“Our buyers don’t have to release the bulk of their hard-earned savings until they have the keys to the front door, meaning owner-occupiers aren’t experiencing the double whammy of paying rent and building costs at a time when household budgets are under pressure from cost-of-living increases.”
