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.

New Build Rebuild Total
NSW         8,714         4,973       13,687
Vic       17,382         4,213       21,595
Qld       13,507         3,106       16,613
WA       11,141            783       11,924
SA         5,949         1,479         7,428
Tas         1,521            291         1,812
ACT         1,371            520         1,891
NT            178              15            193
Total       59,763       15,380       75,143