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THE Government is resisting requests to extend its highly successful increase in the first-home buyer's grant, raising fears of a housing slump once the scheme is terminated on June 30.
A record 26.5 per cent of new home loans went to first-home buyers in January, and the scheme appears to have reversed a five-year decline in the new home building industry, softening the effects of the recession, The Australian reported.
While Prime Minister Kevin Rudd hailed these results as evidence of the success of the stimulus package, two key ministers sought yesterday to douse expectations the scheme would be extended.
Finance Minister Lindsay Tanner told the National Press Club he was delighted the scheme was being so successful and said its future was open to debate as the May budget was developed.
"But I'd have this to say; it's going to be a very tough budget and there are lots of other issues that we also have to give consideration to. So I don't wish to fuel any expectations about that."
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Cheers
Marc
A record 26.5 per cent of new home loans went to first-home buyers in January, and the scheme appears to have reversed a five-year decline in the new home building industry, softening the effects of the recession, The Australian reported.
While Prime Minister Kevin Rudd hailed these results as evidence of the success of the stimulus package, two key ministers sought yesterday to douse expectations the scheme would be extended.
Finance Minister Lindsay Tanner told the National Press Club he was delighted the scheme was being so successful and said its future was open to debate as the May budget was developed.
"But I'd have this to say; it's going to be a very tough budget and there are lots of other issues that we also have to give consideration to. So I don't wish to fuel any expectations about that."
Read more...
Cheers
Marc