Prime Minister Kevin Rudd indicated the first home buyers grant could come to an end 30 June, but there is hope a green version of the bonus will emerge in its place.

Rudd is expected to push for new mandatory energy efficiency standards at a meeting today with the Council of Australian Governments, according to The Australian Financial Review.

The code would ensure all new houses achieve a six-star energy rating by 2010. While it would greatly increase the cost to new home buyers, there are several proposals on that table that would make it more economical for first home buyers investing in green housing.

The six-star rating system includes the current standard around energy efficient building materials such as walls, floors and insulation, to include lighting and hot water systems.