First Home Buyers Grant Increase

The Prime Minister, Mr Kevin Rudd and Federal Treasurer, Mr Wayne Swan, made a press release today relating to Australia's economic security strategy as a response to the global financial crisis.

The press release included announcements of additional financial support for pensioners, families, jobs and first home buyers (go to this link for PM's press releases)

As many of our clients are concerned with house prices, affordability and investment property, the following is an extract from the press release relating specifically to the First home Owners Grant - Increase to $14000 for second hand homes and $21000 for new homes. Conditions apply as follows:

First home buyers will be eligible for grants of up to $21,000 under a decisive Rudd Government initiative designed to stimulate housing activity and give first home buyers a better chance in the housing market.

More than 150,000 first home buyers are estimated to benefit from the time-limited scheme.
Under the First Home Owners Boost:

  • First home buyers who purchase established homes will have the grant which they are currently entitled to doubled from $7,000 to $14,000; and

  • First home buyers who purchase a newly-constructed home will receive an extra $14,000 to take their total grant to $21,000.

First home buyers will be eligible for the First Home Owners Boost from today (14 October, 2008).

All contracts entered into by 30 June, 2009 will be eligible for this new additional assistance. The Rudd Government will invest around $1.5 billion in the housing market over 2008-09 and 2009-10 through this initiative.

If you want to know how much you can borrow, our supportive team has the GENUINE expertise, accreditation and experience to assist you with both home loans, car and business finance requirements.

Call Peter Earle today on (07) 3208 3888 or complete the above online enquiry form - we're ready to listen and give you the best possible advice on true rates, loan structure and service.

D Maynard

My Tax Zone

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