State and Federal cooperation on first home buyers a good step
“Without the decision in both budgets first home buyers would have been left with only the $7,000 grant.
“The REIV welcomes not only the extension but the sensible decision to phase the boost out rather than end it suddenly.
“Phasing the boost out is a far better decision than letting it stop immediately. It will result in a smoother transition and reduce the pressure on first home buyers.
“The assistance for first home buyers has been a key driver in the local property market and I look forward to its continued benefit into the spring selling season,” Mr Raimondo concluded.
First Home Owners Assistance – established homes
| Grant | Bonus | Boost | Total | |
| 1 July – 30 September 2009 | $ 7,000 | $ 2,000 | $ 7,000 | $ 16,000 |
| 1 October – 31 December 2009 | $ 7,000 | $ 2,000 | $ 3,500 |
|
| 1 January – 30 June 2010 | $ 7,000 | $2,000 | – |
$ 9,000 |
