Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

FHBs pulled back in 2010

Staff Reporter 3 minute read

Staff Reporter

First home buyers retreated from the property market in 2010, new data has found.

According to the Australia Bureau of Statistics, in 2009 almost 19,000 first home buyers took advantage of the federal government’s housing grants each month. In 2010 however, this number dropped to just 7,460.

More than $1 billion in grants was given out in 2009 – much higher than this year.

Advertisement
Advertisement

In 2010, the NSW State Government paid out $344 million in grants to nearly 35,000 first-time buyers, with Western Sydney the favourite spot in NSW for first-homebuyers.

Westmead, Liverpool, Kellyville, Blacktown, Campbelltown, Hoxton Park, Banks- town and Camden were the top suburbs for first-homebuyers, attracting between $7.3 million and $3.3 million in grant money.

Since the introduction of first-homebuyer grants in July 2000, more than 477,000 first-homebuyers have received handouts worth more than $4.1 billion.

PROMOTED CONTENT


FHBs pulled back in 2010
default
TheAdviser logo

The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day

default

 

more from the adviser
damian zaleski RYyr k3Ysqg unsplash

Breaking News

GetCapital launches broker platform

The business lender has rolled out a new broker platform, as it h...

fixed rate

Breaking News

Loyalty tax issue flagged to MPs

Brokers are key to holding lenders to account to ensure borrowers...

trade deal contract

Breaking News

Connective launches trail book marketplace

The aggregation group has announced a new arrangement with a spec...