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First Home Buyers Grant Extended By Two Years

By Rebecca Zhang

The O’Farrell government will extend the first home buyers grant by another two years, encouraging prospective home owners to purchase a new house with a $15,000 inducement.

NSW Treasurer Mike Baird said on Saturday the scheme had seen a 60 per cent leap in grants in the first few months of 2013 compared to last year. The grant was due to drop to $10,000 next year, but will now be offered until 2016, under measures to be contained in next Tuesday’s state Budget.

“As part of the Building the State package announced in last year’s Budget, the NSW Government more than doubled the First Home Owners Grant for new homes costing up to $650,000 to $15,000 and we are already seeing signs of life in the critical housing sector,” said Mr Baird.

Source. www.smh.com.au

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