[2] Many countries and states have initiated grant programs to help lower income residents with the purchase of their first home.
The United States Department of Housing and Urban Development (HUD) also provides grants to first time home buyers.
Although intended to help first-time buyers into a home, some have argued that these grants simply distort the market and push prices up.
While the program is offered nationwide, the scheme is funded by the states and territories and subject to respective legislation.
[5] In October 2008, the Australian Government announced a boost to the scheme to alleviate the Global Financial Crisis, in order to stimulate the housing industry and prop up the market.
The aim by the QLD Government is to boost the construction industry that has seen lagging demand over the year.
[7] The re-shaped First Home Owner Construction Grant kicked in on 12 September 2012 for properties valued up to $750,000 in Queensland.