From the 12th September 2012 a new $15,000 First Home Owner Construction Grant (FHOCG) is available in Queensland, replacing the existing $7,000 First Home Owner Grant.

The FHOCG applies to new property bought or built at a value under $750,000, meaning First Home Buyers who build their first home or buy a new home will be $8,000 better off under the new scheme.

In addition to the “FHOCG” First Home Buyers pay no stamp duty on homes valued up to $500,000 which is a further saving of $8,750 or a full exemption for vacant land purchased to build a new home up to a value of $250,000.

For All information and eligibility on the new First Home Owners Construction Grant and Stamp Duty concessions please visit www.osr.qld.gov.au