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The New South Wales government has moved to stimulate the housing construction sector, announcing plans to extend the first home buyers grant by a further two years.
In the state Budget announcement yesterday, NSW Treasurer Mike Baird said the grant, which was due to drop from $15,000 to $10,000 next year, will now be offered until 2016.
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According to Mr Baird, the scheme had seen a 60 per cent leap in grants in the first few months of 2013 compared with last year.
“As part of the Building the State package announced in last year’s Budget, the NSW government more than doubled the first home owners grant for new homes costing up to $650,000 to $15,000, and we are already seeing signs of life in the critical housing sector,” Mr Baird said.
