First Home Buyer Grant – June 30 Roundup

With the end of financial year almost upon us we are taking a look at what that means for first home buyers in each state. Are the first home buyers grants going up or down? Are any states losing theirs? How will you benefit as a first home buyer?

Let’s take a look…

NSW

Until June 30, 2017

A $10k grant is currently available to first home buyers building a new home or purchasing a new home.

From July 1, 2017

A new package currently awaiting budget approval will abolish stamp duty for houses under $650k and it will give a $10k grant to first home owners building homes valued at up to $750k, or buying news homes valued up to $600k.

Qld

Until June 30, 2017

First home buyers are currently eligible for a $20k grant for a new build or new home under $750k, or to build a granny flat on a family member’s existing property.

From July 1, 2017

The $20k grant has been extended until 31st December 2017. After this it will reduce to $15k.

Vic

Until June 30, 2017

A $10k grant is currently available to first home buyers building a new home or purchasing a new home, up to the value of $750k

From July 1, 2017

The grant will remain the same, however, if you build or buy a new home in regional Victoria (valued up to $750k) first home buyers will be eligible for an additional $10k grant.

SA

Until June 30, 2017

SA first home buyers are currently eligible for a $15k grant if they are building a new home or purchasing a new build.

From July 1, 2017

The grant is SA will remain unchanged

Tas

Until June 30, 2017

First home buyers in Tasmania are currently eligible for a $20k grant for new builds or buys.

From July 1, 2017

This $20k grant has been extended until July 1, 2018

WA

Until June 30, 2017

The West Australian government currently offers a $10k grant for first home buyers, with an additional $5k boost for eligible applicants. The value of the eligible property differs depending on where it is located in the state.

From July 1, 2017

The $5k boost expires on the 30th June. From the 1st July there will be a $10k grant available.

NT

Until June 30, 2017

The Northern Territory offers first home owners the most generous grant in the country, with $26k available to people buying or building a home. On top of this, if you are buying a new build, you may be eligible for a $2k household goods grant, and if you are buying a previously established home you may qualify for a discount on your stamp duty.

From July 1, 2017

This grant will not change.

Please note that this is a guideline only and all applicants need to apply directly to the office in their state for a full list of requirements.