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  


$ 12,500

 

1 January – 30 June 2010  $ 7,000   $2,000   –

 $ 9,000

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

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