first home buying
Good news for those first home buyers still saving up their pennies, with last night’s Budget extending the current Boost to the First Home Owners Grant. Eligible buyers get $14,000 toward their purchase ($21,000 for new property) and that incentive’s now been extended to September 30th 2009.
From October 1st to december 31st it’ll drop back to $10,500 and $14,000 respectively, then from Jan 1st 2010 we’re back to the long-running Grant of $7,000 only.
There’s been a real run of first home buyer sales recently and this extension will give them more time, taking some of the pressure off their decision-making.
With such a strong ‘pull-forward’ of demand having already occurred it’s fair to ask how many first time buyers are left? And more importantly, how many that can get a loan in the new credit world we live in?
