Property market set to take-off

SOUTH-WEST families will save up to $7000 on the price of their new home when the State Government reintroduces the stamp duty concession on July 1.

The reintroduction, teamed with falling interest rates, is set to fuel the south-west housing market after a slim 12 months.

First National Springfield principal Neil Coupland said the concession would kickstart the marketplace by providing confidence and an incentive to those on the hunt for their second or third home.

"It's going to affect second or third home buyers because first home buyers already receive a concession," Mr Coupland said.

"This marketplace we are in now is excellent for upgrading. It's not a great market if you are downgrading.

"It's going to help people because the cost of moving into a bigger home is going to be dramatically reduced."

Mr Coupland said the past year had been tough in the property market with a lot of people selling their homes for less than what they bought them for.

"There seems to still be a lack of confidence in the market price at the moment," he said.

"There's a reasonable amount of inquiry for properties under the $250,000 mark.

"There's some investors coming back to the marketplace but we need a lot more first home buyers - there's only a few around at the moment.

"Since they reduced the home owners grant from $15,000 to $7000, there hasn't been a lot of interest."

In the Inala and Forest Lake areas, Coulson Real Estate office manager Kerry Grant said money in home buyers' pockets would stimulate the market for people looking to downgrade.

"In our area, there are a lot of older people, so they are looking to downgrade," Ms Grant said.

"The concession will make the market more attractive because people won't have to spend as much on legal and other added costs.

"Every purchaser is going to be a winner."

Other cost of living pressures will be eased from July 1 for south-west families as promised by the state government:

Electricity: The Federal Treasury has estimated the carbon tax will add as much as 10% to electricity bills from July 1, however the State Government has promised to freeze the standard domestic electricity tariff (Tariff 11), saving families an average of $120 this year.

Vehicle registration: Family car registration fees will be frozen for three years from July 1 for more than 2.5 million family vehicles.

Waste charges: The landfill levy taxed on businesses, including councils, will be abolished with savings expected to be passed down to residents.

Public Transport: Savings have been brought in last week with a new weekly nine trip cap on Go Cards.

Commuters will pay for nine trips and get their 10th trip free.

Business: New legislation will increase the exemption threshold for businesses paying payroll tax from $1 million to $1.1 million as of July 1.

Water: Queensland Urban Utilities will hold residential water and sewer prices at current for 12 months from July 1.

However, charges for non-residential customer will rise in 2012/13 by 1.3%, in line with CPI.

Private health cover changes: From July 1, singles earning more than $84,000 and couples or families earning $168,000 a year will pay more for hospitals and extras cover as rebates will be means tested.

Schoolkids Bonus roll out: Families with school-aged children will begin receiving handouts from the Federal Government this week as part of the transition from the Education Tax Refund to the Schoolkid Bonus.

Eligible families with primary school children will receive $409 per child and $818 per child in secondary school.

From next year, the Schoolkids Bonus will be paid in two separate instalments before the start of Term 1 and Term 3.