The Reserve Bank decision to cut official interest rates by .75% today is good news for home buyers according to Frank death, CEO HomeWorld Display Village.

“Coming on top of the previous interest rate cut of 1% and the boosting of the First Home Buyers Grant to $21,000 will breathe life into the new housing market.

“It will give first home buyers more confidence to take that important first step, as well as enabling more investment in the property market. Selected HomeWorld builders have also decided to add a further $7,000 to the first home buyers grant for a limited time.

“We are expecting to see families go ahead with their plans to knock down an old home and replace it with a new home more in keeping with their current lifestyle needs.