Powered by MOMENTUM MEDIA

First home owner grant cap to rise in NSW

tax-and-legal-advice
1 minute read

First home owner grant cap to rise in NSW

by webmaster 30 November 2010 1 minute read

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.

by webmaster
November 30, 2010

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.

Advertisement
Advertisement

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.

First home owner grant cap to rise in NSW
default
spi logo

From the web

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.