New South Wales Treasurer, Mike Baird has brought down an $824 million deficit state budget which tries to do the impossible, that is, bring a properly dead property bubble back into existence.
The $7000 First Home Owners’ Grant is being replaced by a $15,000 state grant in order to entrap increasingly suspicious new builders back into the collapsing residential market.
Good grief! It won’t work, of course, but what can you expect from a former banker?
As usual, it seems people are secondary to the primary aim of Barry O’Farrell’s Liberal government, namely re-inflating house prices for real estate agents and banks.
2 Comments
Hi Bryan, the $7k FHOG is being scrapped – this is an unbelievable development.
There is a First Home Buyer New build program that provides a $15k grant.
This makes sure the young & heavily indebted to skew towards the latest shiny brand spankers housing.
Ta, now fixed.