Stampede hits ScoMo’s first home buyer subsidy

Data from the National Housing Finance & Investment Corporation shows that more than 5,500 people have applied for the federal government’s First Home Loan Deposit scheme to date. This includes some 5,146 applications that have been submitted via the major banks. Meanwhile, 70% of successful applicants have bought houses, while 26% have purchased apartments. The scheme, which is limited to 10,000 participants each year, began on 1 January. From The Australian:

The first major update on the first-home buyers scheme, a key Coalition election pledge, reveals the greatest uptake has been in Sydney, Melbourne and Brisbane, with singles claiming up to 62 per cent of allocated places.

One-third of applicants were buyers aged 25 to 29, with the averageĀ­ income of prospective home buyers $67,698 for singles and $110,998 for couples…

There are 830 words left in this subscriber-only article.

Start your free 14-day trial today!

Comments are hidden for Membership Subscribers only.