$10m plunge in first-home cash grants

Market struggling in Adelaide. It seems young Australians are more intelligent than the government and won't nibble on a carrot dangling in front of them - they know it's a trap.

http://www.adelaidenow.com.au/news/south-australia/m-plunge-in-first-home-grants-since-2007-08/story-e6frea83-1226533223157

CASH grants to first home buyers have plummeted by almost 30 per cent in the past five years, State Government figures show.

The $10 million drop in total annual grants since 2007-08 is a clear reflection of the struggling real estate and housing construction markets and the tightening in credit availability, experts say.