More blows to Perth market: http://reiwa.com.au/about-us/news/$3,000-fhog-for-established-homes-officially-axed/ First home buyers who purchase an established home in WA will no longer receive the $3,000 First Home Owner Grant (FHOG), following its official abolishment last Saturday. As part of the 2015-16 WA State Budget, the State Government opted to scrap the $3,000 FHOG for established homes completely, but retain the $10,000 grant for new builds. REIWA Deputy President Hayden Groves said the Institute maintained its disappointment with this decision. “By removing the grant for established homes, first home buyers who want to purchase an established home in an older suburb are now disadvantaged. This skew towards new builds is creating an imbalance in the housing market and pushing a lot of first home buyers to the urban fringes, which actually works against the Government’s own urban infill policy,” Mr Groves said. Mr Groves said that although this was disappointing news for first home buyers, WA’s current property market presented great opportunities for those looking to purchase their first home. “With record low interest rates and property listing numbers the highest they’ve been since 2011, now is a great time for WA first home buyers to enter the property market – and if they purchase a home for $530,000 or less, they may still be eligible for the First Home Owner Rate of Duty,” Mr Groves said.