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Give first home buyers $15,000, says MP

Momentum is building for an increase in the First Home Buyers Grant in Australia.  You can also see all the first home buyers benefits through our Stamp Duty Calculator which has a detailed analysis of each states grant and stamp duty incentives available to migrants and returning expatrites if you intend to live in the property for 6 of the first 12 months of ownership.

Calls for changes in the First Home Owners Grant (FHOG) are being applauded by both sides of the political sphere, in recognition that first time buyers need more help to enter the property market.

Federal MP Steven Ciobo this week called on the Federal Government to increase the FHOG from $7,000 to $15,000 and introduce tighter eligibility criteria.

"The $7,000 grant now available to first home owners does not provide enough assistance", he added.

Mr. Ciobo suggested funding the increase by excluding high income earners from the scheme (phasing it out between $100,000 and $125,000 in household income) and limiting it to average cost houses.

"It needs to be capped at Sydney market prices, otherwise the thousands of potential recipients living in Sydney would be excluded simply because of where they live", he said.
 
Opposition treasury spokesman Wayne Swan commented to the ABC that it was a good sign that some ministers within the Government's own ranks were recognising that the scheme needs to be better targeted. 

- grant, first, home

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