2009 Budget Announcement

Apparently;

The First Home Owner's Boost, worth an extra $14,000 for buyers of a newly built home and $7,000 for buyers of existing homes, will be extended until September 30 at the full rate.

From October 1, the Boost will be halved to $7,000 for new homes and reduced from where it used to be at $7,000 to $3,500 for existing homes, and will no longer be offered after December 31.

Original scheme of $7000 for new home buyers to be retained.

This part is not a budget announcement;

Anyone wishing to make advantage of the first home owners grant will need to ensure they have 20% deposit or 5% genuine savings if they require finance to purchase a new home. No adverse credit file issues will be considered.