Government Grants

In Australia there are various initiatives that the government undertakes in order to encourage the new generation to get into the property market. These housing grants can be taken advantage of by the vast majority of first time home buyers, but time to time there could be others that are available to all members of the population. With the recent economic situation - there has probably been more of this happening than what the government would like or be used to.

Also, in many cases these government housing grants do little more than to keep the prices inflated by the amount of the grant. Real Estate agents and home sellers take advantage of the situation and inflate their property price accordingly. So at the end of the day, you are not really saving money (or getting “free money”) at all, the government is just compensating you.

Another point to keep in mind is that many of the lending organisations will deny the use of the government grant to make up your initial deposit. So you will still need the 20% if you want to avoid the mortgage insurance. Some recently have become a little more loose with this policy - but we highly recommend you do not put all your hope on that sum of money. It will backfire in the future.

We will be keeping each individual state’s grant pages updated regularly, so feel free to come back and check out the latest offerings for your particular state!