First Home Owners Grant Extended

FHOG  for both new and existing homes extended and an introduction to phase the Boost out gradually. The Commonwealth Government has made an accurate and overall assessment of the property market in their decision to extend the FHOG Boost for six more months, however, it will only continue at the full rate until 30 September 2009.

From October until December 2009 the FHOG Boost will be reduced from $14,000 to $10,500 for established homes and from $21,000 to $14,000 for newly constructed homes.

This decision will benefit the property industry greatly and have tremendous flow-on effects to those in the business of servicing the property industry such as solicitors, conveyancers, financiers, valuers, removalists, furniture suppliers and a range of trade’s people.

Source: Real Estate Institute of Australia