The first home buyers grant of $7,000 is still in place.
For contracts made between 1 October 2009 and 31 December 2009 the new boost benefit is $3,500, bringing the total to $10,500. For first home buyers building a new home or purchasing a newly constructed home (never lived in) the boost is $7,000, bringing the total to $14,000.
From 1 January 2010 the scheme reverts back to the original $7,000 boost with stamp duty exemptions for purchases up to $500k. Note also that from 1 January 2010 the home purchase price is capped at $750k.
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