Homebuyers not deterred by lessened grant

Despite the first home owner's grant being reduced in October 2009, Australians continue to take up the federal government’s grant boost in their droves.

Originally $14,000 for established homes and $21,000 for new properties, the boost was reduced to $10,500 for established homes and $14,000 for new homes on 30 September 2009.

According to a report by AAP, figures released by Labour over the weekend showed 18,703 people had received the grant in October 2009, with only Queensland and the Northern Territory recording a drop from the previous month in the number of successful applicants.

This is compared with the 17,898 who took advantage of the grant in September 2009, its final month at the more generous rate.

The grant has officially helped 190,050 buyers into the market since October last year.