Problem with first home buyer grant is that it only applies to new property. New property 90% of the time is sold 10-20% overpriced (particularly apartments) as foreign investors can only purchase new and developers know they can achieve high prices for 'new' property.
I'd much rather buy an older second hand property at market value off my own savings as opposed to getting the first homebuyers grant and spending $60,000 above market.
If the Government wants to increase affordability with the grant then it should do just that, and allow the grant for all residential property.
