WA first time buyers emerge in droves
More and more West Australians are making the transition to homeownership, recent data has revealed.
State treasurer Troy Buswell said the latest First Home Owner Grant figures released for the December quarter show the number of people breaking into the property market for the first time is on the rise.
The number of first time buyer grants issued in 2012 increased by 3,751 - a 28 per cent lift from 2011.
"I am pleased more West Australians are becoming home owners with the help of our grants scheme," the treasurer explained.
"The Liberal National government helped 17,171 first home buyers get into the property market last year from grants of $120 million. When you take out boosts given to the first home owner scheme, the December quarter was the highest number of grants given out in ten years."
Mr Buswell went on to say that the latest results indicate the property market is headed for an upturn - a trend which will have a positive knock-on effect on the economy, he added.
Those wanting to get a foot on the property ladder may be interested in taking advantage of the grants available to those purchasing their first home, which can offer up to $7,000 for eligible buyers.