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The decision by the federal government to extend the inflated first home owner grant is the right move according to the mortgage industry.
Federal Treasurer Wayne Swan last night announced that the government would extend the initiative for a further six months, during which the same incentives will apply for three months followed by reduced incentives for the remaining three months of the year.
A straw poll conducted by Mortgage Business over the last week found a majority of brokers believed the grant should be extended past its June 30 deadline.
45 per cent of the 277 respondents said the grant should be extended in its existing form for both new and established dwellings while 30 per cent said an extension for new dwellings would be sufficient.
Just under a quarter of respondents – 22 per cent – thought it was time for the initiative to end.
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