The Housing Industry Association (HIA) has welcomed the announcement that the First Home Owners Grant (FHOG) is to be doubled, describing the news as a "shot in the arm" for the Australian property sector.
HIA executive director Stuart Clues stated the move will help spur developers to create more new homes, while also significantly improving affordability for first-time buyers and simultaneously reducing pressure on the crowded rental market.
He said: "Most importantly builders are actively competing for work which means Tasmanians have the opportunity to build their new home at a great price and built on time."
Mr Clues added that the HIA is fully in support of the FHOG and he hopes the development will lead to at least 500 additional properties being built in Tasmania alone in 2013.
Earlier this month, the HIA highlighted an upturn in confidence for buyers across Australia, with the latest Australian Performance of Construction Index gaining 1.2 points to stand at 37.0 in December.
Posted by Craig Francis