Almost 16,000 Queenslanders received the first home owners' grant in the past financial year, but that was just two-thirds of the number the state government had expected.
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The figures are revealed in Queensland Treasury's annual report issued yesterday.
![Fewer than expected Queenslanders are applying for the first homeowner's grant. Fewer than expected Queenslanders are applying for the first homeowner's grant.](/images/transform/v1/crop/frm/silverstone-ct-migration/c387c402-868f-46fe-927f-86a9ed785cc7.jpg/r0_0_729_450_w1200_h678_fmax.jpg)
Treasury had expected 23,570 Queenslanders to receive the grant under the federal government scheme to assist first home buyers.
But only 15,926 grants, worth $7000 each, were paid out.
Queensland Treasury blamed a few factors for the “greater than expected reduction", including the end of the federally-funded boost to the grant.
As part of the stimulus package hammered out in response to the global financial crisis, the Commonwealth doubled the grant to $14,000.
First-time buyers who purchased a brand new home received $21,000 under the temporary increase.
Queensland Treasury believed tighter lending conditions in the housing market and the impact of natural disasters have also played a part.
The summer of floods and cyclones had also put significant pressure on official coffers already “challenged" as a result of the global financial crisis, according to Under Treasurer Gerard Bradley.
“Meeting the costs of rebuilding Queensland was a major focus for the 2011-12 state budget, which also sought to: restore the state's fiscal position aiming for a return to surplus in 2015-16; continue infrastructure and other economic reforms to increase productivity of the Queensland economy; address cost of living pressures and raise living standards," he stated.
Mr Bradley expected 2011-12 would also be a “challenging year" for Treasury as it supported rebuilding efforts.
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