There is strong evidence first home buyers are taking advantage of the Federal Government’s boosted first Home Buyers Grant says Frank Death, CEO HomeWorld Display Village, commenting on figures published in the Sydney Morning herald dated Thursday, 15 January 2009.

“Official home loan figures for November show the proportion of first home buyers in the market had climbed to 23 per cent the highest since January 2002.

“Obviously these figures include buyers of existing properties, however anecdotal evidence leads us to believe families choosing to build a new home would be a significant part of the increased figures,” said Frank Death.

“Although the figures show a drop in investment loans we are confident there will be a return by investors to the new housing market as rental accommodation demand continues and the share market turmoil saps investors’ confidence.

“There is still pent up demand for accommodation in suitable locations around the metropolitan area. Property should be considered a long term investment and there are opportunities to buy house and land packages at affordable entry prices,” he added.

Death reminded first home buyers that the tripled grant is due to finish on 30 June, 2009.

“A first home buyer also does not pay stamp duty on properties up to $500,000, making this a very special time to take that all important first step. There are great deals to be secured in a competitive market, and home buyers are the winners,” Death added.