MFAA lobbies government to extend FHOG increase

The Mortgage & Finance Association of Australia (MFAA), has called on the government to extend the boost to the first home owners grant beyond June 2009.

According to the MFAA, the beefed-up grant was attracting additional first home buyers to the market which in turn was buoying the housing sector.

“First home buyers are an incredibly important element of the housing industry and any comeback in the housing industry is reliant on new entrants and people purchasing their first home,” said MFAA CEO Phil Naylor.

Mr Naylor said that the MFAA had formally written to Tanya Pilbersek, minister for housing, lobbying for the extension.

“The current state of the economy should give good cause to the government [to extend] the boosted grant for a further period,” Mr Naylor said.