FIRST-home buyers are saving grace
FIRST-home buyers are the saving grace for an embattled property market.
They are jumping into home ownership at record rates, bringing calls for an extension of the First Home Owner Grant which runs out on June 30.
Figures from the Australian Bureau of Statistics show the startling growth in that sector of the market as first-time buyers jump at the chance to own their own home.
Last October, when the First Home Owner Grant was announced, only 11 people in Queensland took up the offer.
In February, this had soared to 2616, a 237-fold increase.
That massive jump also ties in with the latest research from the Real Estate Institute of Queensland released at the weekend which shows that first-home buyers have dominated the housing market and sales in the affordable end of the market in the Coast's northern growth corridor had seen the biggest increase.
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