The Great Australian Dream is alive and well despite all the gloom and doom according to Frank Death, CEO HomeWorld Display Village.

“With the dramatic drop in interest rates by the Reserve Bank and the increase of the First Home Buyers Grant to $24,000 the numbers of visitors to the village and our website have lifted, demonstrating these measures are working.

“According to the Australian Bureau of Statistics (ABS) loan commitments for purchasers of new homes lifted by 15.2% for the month of December ‘08. First home buyers have definitely come back into the market to take advantage of the $24,000 grant.

“It’s a great time for home buyers of all levels, with the Reserve Bank lowering official interest rates by a whopping four percent making them the lowest for 45 years. On top of all this there is more affordable land available in Sydney giving home buyers and even better chance to build their dream,” said Frank Death.

The Housing Industry Association/Commonwealth Bank First Home Buyer Affordability Index improved by 39.3% in the December quarter and Frank Death says this is further evidence of excellent buying conditions.

“We firmly believe the increased activity from first home buyers is going to kick start the rest of the market particularly with interest rates so low,” he added.