A first home buyer boom is sweeping South Australia with a huge surge in demand for the State Government’s $15,000 First Home Owner Grant, which supports locals achieve the great Australian dream of home ownership.
So far this calendar year, 1,453 South Australians have received the grant – 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 7 years.
And while there’s still two months of the financial year to go, 2020-21 has already smashed recent years’ results with a total of 3,258 people receiving the grant (worth a combined nearly $49 million).
There is strong demand right across Adelaide, with the greatest demand in Mount Barker, Lightsview, Munno Para and Seaford.
Treasurer Rob Lucas welcomed the figures saying “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,” said Mr Lucas.
Mr Lucas said latest Treasury data showed around 2,400 people in receipt of the First Home Owner Grant, had also applied for the Federal Government’s $25,000 (and $15,000) HomeBuilder grant – giving eligible applicants up to $40,000 towards their new home build.