Townsville residents looking to break into the housing market and buy their first home are big winners in Council’s 2020/21 Budget.
Mayor Jenny Hill today announced that the budget included a first home buyers’ incentive of $1000 off the purchaser’s first rates bill.
“The introduction of a first home buyers’ incentive was a key re-election commitment of my team and I’m proud to say that we are delivering,” Cr Hill said.
“Under the incentive, residents who buy their first home in Townsville will receive $1000 off their rates at the new property.
“First home buyers have significant expenses establishing themselves in a new property, this rates discount is designed to take away some of that burden.”
Council’s first home buyers’ incentive will be available for new and existing properties that go under contract after 1 July 2020.
The property must be a first home purchase; be the owners primary place of residence; and the home and land must be valued at less than $450,000 to be eligible for the incentive.
Cr Hill said there had never been a better time for Townsville residents looking to buy their first home to get into the market.
“The Queensland Government recently announced a $5000 regional home building grant for those looking to build their first home outside of South East Queensland,” she said.
“This incentive, combined with grants provided by the Queensland and Australian Governments, means people building a new home in Townsville could now be eligible incentives valued at up to $46,000.”