The new year has brought a lot of first time home buyers out into the open, looking to take advantage of the Australian Government’s First Home Owners Grant. Real Estate search sites have reported a substantial increase in activity since the new year began. Real estate developers and home builders have also reported an increase in interest since the new year began.
Government Pushing To Get New Buyers Into Their Own Home
First time home buyers have been given a very sweet deal by the government. Under the First Home Owners Grant first time home buyers would receive $7,000 to help assist them with the cost of purchasing a home. For those Australians who wished to build a new home the government was handing out $14,000. But recently those numbers have gone up, making it easier than ever before for a first time home buyer to get into a new home. The grant money has increased to $14,000 for first time buyers who move into a home that is already built, and $21,000 for those who wish to build their own home. In some states the local government is adding to the pot and sweetening the deal even more. In some areas new home buyers can receive up to $29,000 in grant money. Australians are advised to check with their local government to see if any additional benefits are being offered to first time home buyers.
First Home Owners Grant Has Positive Effect On The Real Estate Market
The First Home Owners Grant has made it possible for many Australians to get into a new home. Property that before was out of their price range has now become more affordable. The grant money has also helped to boost the confidence of the real estate market in general.
Property Options Australia
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Hi Sean,
It’s interesting times in the real estate market with the home owner’s grant. There’s been a lot of activity at the lower end of the housing market and it’s boosted the building sector.
It’s been on government initiative that’s really worked. I’m still a little cautious about the fall out.
The First Home Owners Grant is a great move by the Australian Government to stimulate the Real Estate market. Although it may have forced the bottom end up a little it still encourages people to buy a property.