Prime Minister Kevin Rudd yesterday signalled that the increased first home owner grant would come to an end on its proposed deadline of June 30 but there are now indications the grant could be extended in a new form.
Speaking yesterday in Perth Mr Rudd said the boost would conclude “within a very fixed and finite time frame”.
“It’s had strong, useful results so far but I’ve got to say all good things must come to an end.”
But according to The Daily Telegraph, sources have revealed the scheme will be renewed, but in a new format favouring new building.
Housing Industry Association (HIA) chief executive Chris Lamont also told The Australian Financial Review he was “reasonably hopeful” the government would extend the boost in a new form to foster new building activity.
The Urban Development Institute also told the daily the scheme needed extending to protect against significant job losses in the construction industry.
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