The NSW Treasurer reviews the cap on First Home Owner grants annually. Reflecting house price increases across the state Eric Roozendaal has now set the cap at $835,000, up from $750,000, bringing Beecroft or Cheltenham more into the sights of first home buyers who would receive a $7000 grant.
First home buyers also get stamp duty savings of $17,990.
People over 65 buying a newly constructed home worth up to $600,000 are exempt from stamp duty. Aaron Gadiel, CEO of Urban Taskforce, suggests that this limit also should have been raised to reflect available new construction. "The abrupt cut-off at $600,000 is distorting housing supply," he says.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment