Dametto pushes south east QLD home buyers to relocate as prices soar

January 17^th, 2022

Katter’s Australian Party (KAP) Deputy Leader and Hinchinbrook MP, Nick Dametto is encouraging home buyers to make regional Queensland home as prices soar in the state’s south east.

Mr Dametto is also urging the State Government to expand the First Home Owners’ Grant to support people making the move.

According to QBE’s Australian Housing Outlook 2021-2024 report, the average house price in Sunshine Coast is due to reach $986,000 by mid-2024 — a three-year increase of almost 19 per cent. [1]

Mr Dametto stated that for those who have been priced out of the market in south east Queensland, regional Queensland is waiting with open arms.

“What we are seeing in Brisbane, Sunshine Coast and Gold Coast is 20 to 25-year-olds still living at home with mum and dad because they are unable to afford the escalating property and rental prices,” he said.

“For example, a standard three-bedroom rental in the Sunshine Coast is asking for $650 per week, which in some cases is approximately double of Ingham’s median mortgage repayments. In the Hinchinbrook electorate, it can actually be cheaper to buy a property than pay rent.”

Mr Dametto is urging that the State Labor Government expands the First Home Owners’ Grant to entice south east Queenslanders to relocate to rural and regional Queensland.

Under Mr Dametto’s proposed amendments to the Act, first home owners would be able the use the current $15,000 First Home Owners’ Grant to purchase an existing, detached home under $300,000 in rural and regional Queensland.

The same $15,000 grant would also be available for improvements when purchasing an existing, detached first home under $300,000 in rural and regional Queensland.

Prospective first home owners who qualify would be able to choose one of those options but not both.

“Currently there is a shortage of rental properties and an oversupply of established homes in rural and regional Queensland. Expanding the First Home Owners’ Grant would help people get off the rental merry-go-round.

“This not only increases the number of rental properties available, but it would also motivate home owners to sell their property, as there would be a higher demand.

“It’s no secret that the COVID-19 pandemic has increased demand for a coastal lifestyle. If you’re look at escaping the city for a seaside or tree side change, then regional and rural Queensland is the place to be.

“Hinchinbrook is the gateway to the Great Barrier Reef, rugged tropical islands, world class fishing and the iconic Hinchinbrook Island. We are also home to Australia’s highest single drop waterfall, Wallaman Falls. With affordable housing, welcoming communities and an abundance of natural attractions why wouldn’t you want to call Hinchinbrook home?”

—ENDS—

[1] https://www.abc.net.au/news/2021-10-25/sunshine-coast-gold-coast-house-prices-more-than-brisbane/100564304