As we lead up to Christmas and the last days of the extra government FHB boost, industry analysts believe the property market will be particularly busy as first home buyers rush to take advantage of the extra incentive of $7,000 for a new home and $3,500 for an existing property. My personal opinion is that those who were going to purchase have already done so.
In addition, some buyers are confusing the boost, which will end on 31 December with the First Home Owners Grant that is set to continue in 2010. January 1 does not represent the end of Federal Government subsidies for first time buyers as the $7000 FHOG will still be available to eligible applicants.
So First Home Buyers who aren’t ready to buy yet, even with the additional boost, will not miss out completely as the original FHOG remains.
