More Queenslanders will be helped to enter the housing market through an extension of the $20,000 Queensland First Home Buyer's Grant.
Premier Annastacia Palaszczuk today outlined the extension of the scheme at the Labor Party's 2017 campaign launch at the Gold Coast.
Ms Palaszczuk said the $20,000 grant was due to expire on 31 December, but today announced up to $51.6 million to extend it to the end of June 2018.
"We all know how house prices across the nation have spiked in recent years, and that the Australian dream of home ownership has become a lot harder to save for," Ms Palaszczuk said.
"While average house prices here are more affordable than the likes of Sydney and Melbourne, I want to see Queenslanders able to purchase their first home sooner.
"That's why we have committed to continuing the Queensland First Home Owner's Grant," Ms Palaszczuk said.
The Premier said the grant had been boosted by $5,000 to $20,000 in the 2016-17 State Budget for purchase of newly-constructed houses, units or townhouses valued at up to $750,000.
She said the boosted grant had been a great success, with more than 10,000 applications worth $200 million approved, or being processed, since July 2016.
"Around 80 per cent of those are in our regional communities," she said.
"The grant not only helps tackle housing affordability, but it helps to create jobs. It is a bricks and mortar investment by my government in supporting jobs in the building industry, right across our state."
In her campaign launch speech the Premier cited her grandfather's experience as motivation for her to extend a helping hand to first home buyers.
"Sixty years ago, my grandfather brought his wife and two young sons to this country for the Australian dream.
"It offered him an education for his boys, access to health services and housing for his family."
Ms Palaszczuk said her government would continue stamp duty relief for first home buyers.
"If a first home buyer purchases a property up to $500,000 they will pay no duty, with reduced rates available up to $550,000.
"This relief amounts to over $200 million per annum for first home buyers," she said.