The Government boost, also known as the First Home Owners Boost was introduced by the Federal Government in 2008 to help stimulate Australia’s property market and encourage people who have never purchased a home to buy their first property. The Government boost was restricted to first home buyers only, which means if you:
- Previously purchased a home
- An investment property
- Or was jointly involved in purchasing a property, you were not eligible for the boost.
The first home buyer market increased while the Government boost was active and it could have been one of the reasons Australia’s property prices did not fall during the economic downturn.
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