FIRST- HOME BUYER’S BOOST TO BE PHASED OUT.

From 1 October 2009 the First Home Owners Boost payment, as part of the Federal Government Stimulus Package will be cut in half.
During 1 October – 31 December 2009 an eligible applicant who signs a contract to purchase an existing home will receive an extra $3,500, as opposed to the $7,000 previously. While signing a contract to purchase or construct a new home during the same period will provide an additional $7,000, instead of the $14,000 offered before the 1 October 2009. After 31 December 2009 the Boost payment will cease and only the standard First-Home Owner’s Grant will apply.
Consequently, there is likely to be a ‘Rush’ of first-home buyers entering the market to capitalize on the additional funds before the Boost expires at end of the year. It is likely that during this period there will be hyper-inflated prices in some entry-level properties as increased demand and limited stock availability pushes up prices. Therefore, buyers need to be very cautious of the true value of properties targeted at first-home buyers during this period.


Auctions, especially are going to be difficult to gauge during this time of high emotions with the effective application of real estate marketing methods by experienced sales agents and auctioneers playing on the under researched and/or vulnerable. The best advice is to become market-educated, understand your target areas and the true value of properties without the hype. It is always recommended to get professional advice on building and pest inspections to ensure a sound structure and independent advice from a property professional. If you think you may be eligible for the First-Home Owner’s Grant and wish to capitalize on the Boost then please contact a team member at Direct Negotiations for a free, no-obligation discussion on your options.
Written by Chris Nicolas at Direct Negotiations



If you are looking for a well performing residential or commercial investment property, an addition to your existing property portfolio or a home to live in, we guarantee to save you money on your next real estate purchase. Go to http://www.directnegotiations.com.au/ or call the team on +61 (0)8 84631997