news

First home owner grant cap to rise in NSW

By webmaster

First home buyers in New South Wales are set to benefit from an increase in the first home owner grant cap as of next year.

From January 1 2011, buyers seeking the $7000 first home owner grant will be able to buy homes valued up to $835,000 – up from $750,000.

Urban Taskforce chief executive Aaron Gadiel welcomed the change.

“Eligibility for the first home owners grant has widened because the housing supply has made all homes more expensive than they need to be,” he said.

According to Mr Gadiel the adjustment to the cap would ensure that homes priced up to 1.4 times the Sydney median price would be included in the scheme.

Home buyers in New South Wales’ capital, Sydney, will especially benefit from the increase in the cap with the median Sydney house price sitting at $591,000, according to RP Data – the highest of any capital city.

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%
First home owner grant cap to rise in NSW
SPI logo