The Rudd Government announced a First Home Owners Boost to ensure first home buyers will be eligible for grants of up to $21,000 yesterday.
“I am very pleased that the First Home Owners Boost will give first home buyers here in the ACT much needed relief by responding to our housing affordability challenge”, Senator Lundy said.
“This initiative will also help strengthen the Australian economy during the global financial crisis and help stimulate housing activity.
“First home buyers in the ACT will be eligible for the First Home Owners Boost as of yesterday, which is great news for those looking to enter into the ACT housing market.”
Under the First Home Owners Boost:
- First home buyers who purchase established homes will have their grant doubled from $7,000 to $14,000; and
- First home buyers who purchase a newly constructed home will receive an extra $14,000, taking their grant up to $21,000.
This will amount to an investment of almost $1.5 billion in the national housing market.
The First Home Owners Boost is just one aspect of the Rudd Governments $10.4 billion comprehensive Economic Security Strategy which also includes:
- $4.8 billion for an immediate down payment on long term pension reform;
- $3.9 billion in support payments for low and middle income families;
- $187 million to create 56,000 new training places in 2008-09; and
- Accelerating the Government’s nation building funds and bringing forward the commencement of investment in nation building projects to 2009.
Contact: Rachel Allen – 6277 3334 or 0418 488 295
