First Home Owners Grant Boost
Today Kevin Rudd announced a boost for the First
Home Owners Grant. The government will triple the
current $7000 first home owners grant to $21,000
for new a construction. For those purchasing an
existing property , they will receive a doubling of
the allowance to the tune of $14,000.
Well, this is great news! It will sure kick start some first time buyers into the market.
Once again the number one law of economics - supply and demand. This increase will certainly increase demand, and supply is still short. This combination will undoubtedly start to push property prices up, particularly when combined with the recent drop of 1% in the RBA official interest rate.
As Warren Buffett once said, "We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
Well, this is great news! It will sure kick start some first time buyers into the market.
Once again the number one law of economics - supply and demand. This increase will certainly increase demand, and supply is still short. This combination will undoubtedly start to push property prices up, particularly when combined with the recent drop of 1% in the RBA official interest rate.
As Warren Buffett once said, "We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."