Concessions Will Only Help a Few

Stamp-duty concessions dumped by the Bligh government in Queensland have been reintroduced by the new Liberal government. The concessions will save home loan chasers around $7,000 on the cost of buying the average family home. The change will not affect investors though, nor first-home buyers, who pay no duty on homes up to $500,000 and get a discount on homes over $500,000.

“The stamp duty will affect people buying a second home or people upgrading or downsizing, but it will not affect investors or first-home buyers,” said Helene Shephard from PRDnationwide Ipswich. “It will only benefit a small portion of the buyers.” She was adamant the market would not pick up until confidence returned. “The market has softened and sellers are nervous and are saying ‘what will it take to sell it’?” For first-home buyers, plenty of suburbs still boast house prices under $500,000.