With the long weekend and gorgeous weather last weekend in New South Wales and Queensland, the property market was alive and buzzing more than usual with first home buyers out scouting for their first home. Why, what’s changed you ask?
As of 1 October 2012 the first home buyer grant is $15,000. It is said that this grant is designed to boost the construction industry in Australia as those buying new property / off the plan may also be eligible for further stamp duty exemptions, taking their savings to a grand total of $35,000 for new houses or apartments to the value of $550,000. There are also exemption discounts on stamp duty for properties between $550,000 and $650,000. There is no longer any first home buyer incentive for existing property.
If you are a first home buyer and are interested in taking advantage of the first home buyer grant and stamp duty exemptions contact as us firstname.lastname@example.org for more information.