First-home buyers grants come to an end in June

Prime minister Kevin Rudd is insistent that first-home buyers grant bonus must wind down in June, despite growing pressure to announce an extension. reports that homebuilders and other industry groups are calling on Rudd to put the deadline back further to help offset the grim prospects for economic growth.

The Prime Minister can only come up with the irresponsible line that ‘all good things must come to an end’ when first home buyers are trying to plan for their futures," said opposition housing spokesperson Scott Morrison.

He went on to urge the prime minister to offer assurances to young Australians trying to get hold of a first-home buyers grant.

Elsewhere, the Sydney Morning Herald has warned that with interest rates on home loans beginning to rise once more, encouraging more first-home buyers in to the property market may put them in a difficult position should they be made redundant.

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