After a gloomy end to last year for property sales the grant had brought an onslaught of new people to the market since January, Real Estate Institute of Western Australia local spokesperson Roslyn Ierace said.

Mrs Ierace said without the extension beyond June the outlook was bleak for the traditionally slow winter period.

“The market was going to be very dismal after July and we could have kissed the market goodbye for six months,” she said.

Ms Ierace said more than 1000 homes were sold in Greater Bunbury during the first three months of this year.

Land sales have also crossed the 400 mark and almost 150 units were sold during that time.

She said homes priced correctly were achieving their asking price and there were also multiple offers being made again.

Ms Ierace said new homebuyer activity was crucial to create the “roll-on effect” for people in the first and second price tiers to move up the property ladder.

The extension was announced in the Federal budget last week.

A grant total of $14,000 is for people buying established homes and $21,000 for people building will remain until September after which it will be phased out by December.

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