cessation of first home buyers grants, page-25

Molonski, good to hear from you again....
you are correct, Howard brought in the grant to compensate for the new GST tax, that applied from that date...
there was no GST on existing homes...so no compensation required...

now it seems the state govts are reverting back...by way of stamp duty concessions on only new homes...

80% of existing homes sold...because there are less than 20% new homes built each year...
but fhb are on average make up only 10% of purchases of new and old homes....at their peak they reached 15%...when all the big incentives were in place...

fhb's paying $500,000 for their first home...would need to be earning well over $150,000 pa...which rules out the average fhb...
seems the $7000 basic grant remains in place for all homes...
state govts are retaining their great income source, of stamp duty payable on existing houses.... for the reasons stated in prior posts
http://www.osr.nsw.gov.au/lib/doc/factsheets/fs_fhb1.pdf