Victoria realtors call for first home buyers boost

Real estate industry leaders in Victoria have asked the state government to double its first home buyers’ grant.

Victoria’s premier John Brumby said that a record 53,730 Victorians used government grants to help buy their first home last year, breaking the previous record of 43,688 in 2001, the Australian Associated Press (AAP) reports .

However, the Real Estate Institute of Victoria (REIV) said that the number of first home buyers dropped after the federal government reduced its grant in September.

REIV chief executive Enzo Raimondo said that there was an 18.6 per cent drop in the number of loans to first home buyers in November and that the number of first home buyers will continue to drop as the assistance continues to be reduced.

Aussies who are considering their first home purchase may be encouraged to compare home loans as grant financing options decline.
Australian Bureau of Statistics data released this week showed a 5.6 per cent fall in the number of home loans issued across the country in November.

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