LAST year's boost to the first home owners grant and cuts to interest rates have given rise to a two-tiered property market, with the first home buyer and sub-$500,000 market firing while the middle to upper end of the market languishes.

LAST year's boost to the first home owners grant and cuts to interest rates have given rise to a two-tiered property market, with the first home buyer and sub-$500,000 market firing while the middle to upper end of the market languishes.