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With the next federal election taking place next year, property academic and author Peter Koulizos said that property investors can expect to hear a lot more about the First Home Owners Grant in the lead up to election day. He expects at least one of the major parties to make it a major issue in the campaign. “Reform is going to happen,” he said.
He added, however, that reforms should include making the grant means tested, stating that “the grant should be aimed at those who really need it” as opposed to a blanket sum that covers everyone.
“The market is different in each state. Not everyone needs the grant, and there need to be restrictions and adaptations so the First Home Owners Grant can change to meet these circumstances,” he said.
• Written by Peter Koulizos, university lecturer, author and property advocate.