More first home buyers flocking to market as grants surge

PHOTO: First Home Owner Grants

Increasing numbers of South Australians are achieving the great Australian dream of home ownership, with the number of First Home Owner Grants paid so far this financial year at its highest level in five years.

In the first three months (July, August and September) of 2019-20, a total of 887 individuals or couples were paid the First Home Owner Grant of up to $15,000 – a 17% increase on the same period the year prior (760), and a 31% jump on 2017-18 (677).

It’s the biggest surge in the number of First Home Owner Grants for the start of a financial year since mid-2014 – and represents more than $13.3 million in financial assistance to help young home buyers entering the property market.

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