First-home Grant May Last Longer: Plibersek

Sun Herald

Sunday January 11, 2009

By RACHEL BROWNE

The Federal Government will not rule out extending the First Home Owners Boost beyond the official cut-off date of June 30.

New figures released yesterday by Housing Minister Tanya Plibersek showed that almost 5500 home buyers took advantage of the payment - which ranges from $14,000 to $21,000 - in its first full month of operation.

Introduced on October 14, the First Home Owners Boost has proven to be most popular in NSW, with 2076 home buyers applying for the payment in November.

Queensland is second with 1428 applicants, followed by Victoria (814), South Australia (481), Western Australia (297), Tasmania (115), the ACT (102) and the Northern Territory (72).

Ms Plibersek said the scheme may continue beyond June 30, depending on economic circumstances.

"Our intention has always been that the First Home Owners Boost should conclude at the end of this financial year but ... we will continue to monitor very closely the effect of the economic security strategy," she said.

Under the scheme, first home buyers receive $14,000 if they are buying an established home or $21,000 if they are purchasing a newly-constructed property.

This is in addition to the NSW Government's $7000 First Home Owner Grant and $3000 New Home Buyers Supplement.

First home buyers Daniel O'Brien, 25, and his partner Gina Zegarelli, 28, took advantage of the $21,000 payment when buying an off-the-plan apartment in Zetland, on the city's southern fringe.

"When we heard about the First Home Owners Boost from the Federal Government we jumped at the chance," Mr O'Brien said.

© 2009 Sun Herald

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