cessation of first home buyers grants

As I understand it grants will cease in NSW this December.

In Queensland, there is $17,000 on offer for FHB but this will cease in January 2012. Some financial service providers are offering an additional $3k which makes this grant worth up to $20k now.

These grants have helped to prop up the property market.

These grants have brought forward demand at the expense of demand down the track.

Can't be good for the property market post January 2012. The FHB stimulus that has been around since the gst introduction will be gone. Not good.