After months of speculation today the Federal Government signalled that the First Home Owners Grant will be scaled back to
pre-boost levels as scheduled on 30 June and will not be extended in the May Budget.
In an effort to assist the Australian economy it was boosted for both existing homes and new homes and has seen a large
number of Buyers enter the market. This will now mean that any potential First Home Buyers hoping to take advantage of the
boosted Grant will need to enter into a contract for sale on or before June 30.
This speculation over the past few months has led to a surge in demand for product in the lower end of the market and has
seen some fantastic results achieved. However, we do not believe that the reduction in the Grant will have any serious
repercussions for the greater market in the new financial year. For with interest rates at a record low and cash more readily
available, this will continue to see the Ipswich market remain a very attractive place to buy and invest.
Warren Ramsey
Principal