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Media Claims $7000 first home owners grant is a wasteful failure

Tue, 2008-04-15 22:39 — Broker

I have more than a few customers who are now purchasing their own home rather than paying rent thanks to the $7,000 first home buyers grant and the exeption from purchase stamp duty in NSW or other Australian state based first home buyer incentives.

Without these first home buyer incentives these first home buyer customers could have really struggled to purchase a property as first home buyers when they actually did.

I fail to see how the first home owners grant has been a wasteful failure for these people. They are now purchasing their own homes instead of renting and time will show, if history repeats as it has done previously, that these first home buyers will acheive a capital gain over time as a result of their efforts and risk taken in 2006 to 2008.




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