Big Incentives for SA Home Buyers
The South Australian Government will provide first home buyer incentives of up to $40,000 in a bid to stimulate what it has described as very low activity in the construction sector.
The 'Housing Construction Grant' would provide first home buyers up to $23,500; or close to $40,000 if they built properties in selected areas. The grants would be offered to residential building projects under $400,000 and be available until 30 June 2013.
"What that would do is stimulate a construction sector that is on its knees," Premier Jay Weatherill said.
Although interest rates on home loans are also low, the Premier said he was not worried if investors rushed the program, as his aim was to stimulate the local building industry. He said the grant funding was also aimed at securing employment for local tradespeople and ensuring skilled workers were not lost to other states or industries.