Figures released by the Office of State Revenue show sharp increases in the number of people getting a foot onto the property ladder in the wake of stimulus measures by first the federal, then the state governments.

The number of first-time buyers in the 2444 postcode area peaked in March this year, with the state government forking out more than $600,000 in grants to 41 applicants.

That represents more than triple the amount of money and 15 homes more than in March 2008, the busiest month in the 2007/08 financial year.

The effects of the global downturn saw Port Macquarie applicants posting a slow and steady start to the 2008/09 financial year, with between 13 and 15 grants issued a month between July and October – down slightly on the same period in 2007.

Real estate agent Chris Koch of Laing + Simmons’ Port Macquarie branch said there had been a lot more sales in the area since the grants were introduced.

The net effect had been a rise in prices – after a steady five or six years – he said, with increased activity elsewhere in the market.

“It’s not just first-home owners,” Mr Koch said.

“The low interest rates and the stimulus grants have been a double bonus overall and a lot of people have moved up the ladder.”

Grants of up to $14,000 for first homes were part of the federal government’s stimulus measures announced late last year.

These were soon followed by the introduction of the $7000 grant from state government.

The measures will remain until the end of September, before reducing for the last three months of 2009.

“There’s a bit of urgency among buyers right now,” Mr Koch said.

“There’s not a lot on the market and still a lot of people looking to buy.”

Figures for May – the most recent available – show 32 applicants for the state grant received a total of more than $550,000.