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Government grant big incentive for first home buyers

It will come as little surprise to people, that first home buyers are being lured into the market by the first home owners grant.

Research released by independent market analyst Datamonitor has shown that four out of every five people thinking of buying their first home have cited the government grant as an important factor in their decision.

The survey of 2,300 people showed that the increased government grant has really had an effect on first home buyers and has provided them with the incentive to enter the market.

The property market has shown resilience in the face of a weakening economy, with research conducted by the Housing Industry Association showing that new home sales increased by 4.2 percent to 8,210 in March, aided by the government grant and low interest rates.

The boost to the grant is due to end on June 30, but industry groups have been pushing the Government to extend the grant believing it has helped to stimulate the property market, and in turn the economy.

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