Govt funding 'will boost real estate market'
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A Shepparton real estate agent says the local housing market will be boosted in the next six months by an increase in the first home owners grant.
The grant is part of the Federal Government's economic stimulus package.
It will be doubled to $14,000 until June 30 and those buying newly built homes will get $21,000.
Real estate agent Rocky Gagliardi says the increase will help new and current home owners.
"I think we're going to get a spin off, not so much now, but in the next couple of months it will start happening, probably in the next six months there will eventually be a rush," he said.
"The last time they did this sort of package, we were in the middle of a boom time, so it was there to assist first home buys.
"Now it's different economic climate so it'll probably put a platform more than anything and a bit more confidence in the market."
Mr Gagliardi says the boost should stop house prices from falling.
"I don't think that vendors or owners, current owners will get more money for their homes. I think it will just stabilise or put a platform in the homes," he said.
"I think they're trying to do that to stabilise, so that prices don't drop and that's a good thing because that looks after the banks."
