More Than 78,000 Australians Take Up First Home Owners Boost

The Rudd Government announced a six-month extension to the First Home Owners Boost in the recent Budget. The Boost will be reduced by half for the last three months of the extension period.

Extending the First Home Owners Boost will support more local jobs and help more Australians realise their dream of home ownership.

It makes sense to phase out measures such as the First Home Owners Boost to allow the market to re-adjust gradually as the grants reduce.

The First Home Owners Boost is part of the Rudd Government’s response to the global recession. A strong housing market is critical for underpinning confidence and supporting jobs in the Australian economy.

The First Home Owners Boost, combined with low interest rates has brought first home buyers into the market in record numbers.

Activity in the housing sector means more jobs for electricians, builders, plumbers and other tradespeople across the country as we fight the impact of the global recession.

The Government is also investing $6.4 billion to build 20,000 social housing dwellings across Australia. This will stimulate the building and construction industry and has been estimated by Treasury to support 15,000 jobs nationally over the next two years.

  NSW Vic Qld WA SA Tas ACT NT Total
Oct-08 88 18 11 0 0 0 0 4 121
Nov-08 2,076 814 1,428 297 481 115 102 72 5,385
Dec-08 3,840 2,124 2,377 1,255 949 270 201 114 11,130
Jan-09 4,434 2,921 2,616 1,248 949 377 223 85 12,853
Feb-09 3,966 2,755 2,887 1,405 972 373 177 129 12,664
Mar-09 6,084 3,564 3,881 1,686 1,187 448 278 137 17,265
Apr-09 6,697 4,128 3,881 2,083 1,192 362 262 131 18,736
Total 27,185 16,324 17,081 7,974 5,730 1,945 1,243 672 78,154

 

 

 

 

 

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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