The Federal Government has announced strong and sensible initiatives to boost activity in the local housing market and to encourage first home buyers to pursue their dream of owning their own home.

Only from now until 30th June 2009 the existing First Home Buyers Grant will be DOUBLED to $14,000 for all first home buyers, and TRIPLED to $21,000 for those buying NEW homes as their first home. Couple this latest initiative with the existing recent exemption from stamp duty for first home buyers on purchases up to $500,000 and this has to be the best time for first home buyers to enter the market.

The Housing Industry Association anticipates that, as a result of these initiatives by the Federal Government, an additional 15,000 homes will be constructed over the next year.

The flow on effects of this increased activity will have far reaching affects throughout the real estate industry and the Australian economy as a whole.

The Government is to be congratuated on this mature and responsible approach to help stimulate the economy in the light of recent world events.

With interest rates having been reduced as well- the time to buy is NOW!!!