First-time buyers of Australian property made up just under a quarter of all owner-occupier finance commitments throughout Queensland, according to market figures.
However, their impact was not as significant, nor damaging, as some had predicted, as the first-home owner grant initiative did not spark a rush on the Australian property market.
"First-home buyers accounted for a much greater proportion of the market during 2009 than in the past, however their portion still paled in comparison to [other] buyers," commented RP Data property analyst Cameron Kusher.
The first-home owner grant scheme was introduced in July 2000 to offset the effect of the goods and service tax on Australian home ownership.
It allowed first-time buyers to apply for a one-off payment of AU$7,000 (£4,000) and ended at the start of 2010.
Successful applicants can rest assured that they made a good choice, with Australian property being voted among the best places in the world to live.
Posted by Steve Douglas
However, their impact was not as significant, nor damaging, as some had predicted, as the first-home owner grant initiative did not spark a rush on the Australian property market.
"First-home buyers accounted for a much greater proportion of the market during 2009 than in the past, however their portion still paled in comparison to [other] buyers," commented RP Data property analyst Cameron Kusher.
The first-home owner grant scheme was introduced in July 2000 to offset the effect of the goods and service tax on Australian home ownership.
It allowed first-time buyers to apply for a one-off payment of AU$7,000 (£4,000) and ended at the start of 2010.
Successful applicants can rest assured that they made a good choice, with Australian property being voted among the best places in the world to live.
Posted by Steve Douglas
