The Queensland Building Boost Grant of $10,000 is available from 1 August 2011 to 31 January 2012 for a person or corporation buying or building a new home in Queensland for less than $600,000. This is in addition to the existing $7,000 First Home Buyers Grant
Queensland has become the worst performing state for mortgage arrears, with 2 per cent of borrowers more than a month behind in repayments.
The report on residential mortgage backed securities (RMBS) from credit rating agency Fitch shows New South Wales was close behind with 1.93 per cent of borrowers in trouble, while Victoria had a 1.34 per cent rate of arrears.
The report uses data that covers around 17 per cent of all Australian mortgages, or more than a million loans, and looked at the six months to March.
Fitch found the rise in Queensland mortgage arrears to be largely unrelated to the floods, with unaffected regions such as the Gold Coast and Logan City contributing the highest rates of borrowers falling behind on their repayments.
-----
From ABC.COM.AU
The ratings agency says further interest rate rises are likely to increase delinquencies most in the locations that are already struggling.
It also warns that continuing softness in the housing market is likely to result in more mortgage delinquencies of more than 90 days, as foreclosed properties take longer to sell.