00:00It's another pre-budget sweetener.
00:05On its street, the government probably wishes every press conference could be held.
00:09The best thing we can do for a Queenslander's cost of living for their lifetime is help
00:15get them into their first home.
00:17The stamp duty threshold will be lifted to $700,000 from $500,000 for first home buyers
00:24and the vacant land threshold raised to $350,000 from $250,000.
00:29We anticipate this reform will help 10,000 new first home owners each and every year.
00:37Places like Greater Brisbane or certain parts of the South East Corner, we know that median
00:43property prices are quite high and so the $700,000 is still a little bit modest but
00:48a great starting point.
00:50Stamp duty costs tens of thousands of dollars and is often a significant hurdle for many
00:56prospective home buyers.
00:58The opposition quick to point out it proposed a similar measure in January.
01:02How many young Queenslanders have been locked out of their first home while the government
01:06spent all this time trashing our policy idea?
01:09The government will cover the cost of the policy by increasing the foreign investor
01:14land tax surcharge to 3%.
01:17The relief today was largely welcomed.
01:19Anything to help people get into houses sooner.
01:22Gives young people more of a chance to get in the market without having to go to the
01:27bank of mum and dad.
01:28Positive for everyone all the way around if there's more houses being built.
01:31Who first proposed raising the stamp duty threshold won't matter to Queenslanders desperately
01:37trying to buy their first home.
01:39The political debate demonstrates the two parties are acutely aware of how much the
01:44housing crisis is weighing on voters' minds.
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