If you do the figures $95 mill (total FHB grant extended to June 2012) divided by $26,000 = less than 4,000 Victorians will be helped.
Not even a drop in the ocean !
Also as the house prices have gone up .. even the maximum (for the few that qualify) doesn't mean that much anymore. The FHB scheme has lost its effectiveness.
So as a property investor I'm going to postpone my next property purchase to 2014 when Victoria drops its stamp duty right back to match the levels of stamp duty in other states.
Why would I invest now in Victoria/Melbourne with the state of the property market - and especially with interest rates rising - when I'm earning much more with my bank deposit?
