Home Builder Grant twice as popular as expected

The federal government’s Home Builder Grant has turned out to be even more popular than expected. The $25,000 grant was released by Scott Morrison’s Liberal government and was expected to be taken up by 27,000. The current take up has been over 75,000 and will cost over $2 billion. This will support lots of job with anticipated revenue of $18 billion.

It has never been easier for a 1st home buyer to enter the market. Buyers have both state and Federal grants around $40,000, no stamp duty, combined with historically low interest rates. If you are a first home buyer and have not attempted to enter into the market through this time, then you have blown a huge opportunity.

The numbers below show the take up by state.