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Grants help fuel housing boom

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More than 3250 South Australians have received the State Government’s $15,000 First Home Owner Grant grants so far this financial year, surpassing recent years’ numbers with two months left to go.

 

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The surge coincides with the Federal Government’s HomeBuilder scheme, which is also driving new home approvals and home lending rates to record levels.

According to state government data, 1,453 South Australians have received the government’s $15,000 First Home Owner Grant so far this calendar year for the purchase or construction of a new residential property, including a house, flat, unit, townhouse or apartment, making it the best start to a year in seven years.

With two months of the financial year to go, 2020-21 has already smashed recent years’ results with a total of 3258 people receiving the grant worth a total of almost $49 million.

Treasurer Rob Lucas welcomed the figures as further evidence of the state’s strong ongoing economic and jobs recovery from COVID-19.

Lucas said the latest Treasury data showed around 2400 recipients of the First Home Owner Grant had also applied for the Federal Government’s $25,000 (and $15,000) HomeBuilder grant.

“We know South Australia is experiencing a massive housing and construction boom, which is great for local jobs, and it’s pleasing to see young South Australian first home buyers driving part of that economic activity,” he said.

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