AUSTRALIAN first-home buyers have grabbed the Federal Government’s money with both fists, with ACT buyers some of the most enthusiastic applicants. The additional grant to the firsthome buyers scheme was phased out on Wednesday and figures showed more than 153,000 Australians entered the housing market for the first time since October. Proportionally, the ACT – with 3051 applications granted until the end of September – was about level with NSW, which had more than 53,000 grants till the end of August, more than a third of the national total.
The number of new dwellings under the scheme for the ACT was 687 from October 14 to the end of September. Canberra’s top postcode to embrace the grant was 2615, which encompasses the suburbs of Charnwood, Dunlop, Florey, Flynn, Fraser, Higgins, Holt, Latham, Macgregor, Melba and Spence. The first-home buyers scheme was doubled by the Federal Government from $7000 to $14,000 in October 2008 as a stimulus measure and first-home buyers who purchased a new home received an extra $7000 to take the total amount of government assistance to $21,000.
The scheme played a vital part in propping up the national economy during the worst of the global financial crisis, according to Minister for Housing Tanya Plibersek. ‘‘A strong housing market is critical for underpinning confidence and supporting jobs in the Australian economy,’’ Ms Plibersek said. ‘‘The first-home owners boost, combined with lower interest rates, has helped thousands of Australians realise their dream of home ownership. ‘‘First-home buyers made up over one-quarter of all new loans for owner occupation and overall the number of first-home buyers rose by over 73 per cent in July 2009 compared with the same period last year.’’
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