First home buyers could save over $70k in government assistance
All levels of government are pulling out the stops to boost the housing market and particularly lend a hand to first home buyers.
There’s now a wide range of government grants and stamp duty concessions that are available to first home buyers – potentially saving you thousands of dollars.
The table below summarises the grants and concessions for which you may qualify.
| State | New Home Builder Grant | First-Home Buyers Grant | Regional new home build | Bonus | Max Stamp Duty Concession | Total |
| NSW | $25,000 | $10,000 | $24, 740 | <$59, 740 | ||
| VIC | $25,000 | $10,000 | $20,000 | $31, 070 | <$86, 070 | |
| QLD | $25,000 | $15,000 | $7,175 | <$47, 175 | ||
| WA | $25,000 | $10,000 | $20,000 | $13, 015 | <$68, 015 | |
| ACT | $25,000 | <$25, 000 | ||||
| TAS | $25,000 | $20,000 | $6, 999 | <$51, 999 | ||
| SA | $25,000 | $15,000 | $15, 500 | <$55, 500 | ||
| NT | $25,000 | $10,000 | $20,000 | $18, 601 | < $73, 601 |
On top of government assistance, banks are offering some sharp deals for first home buyers; one is effectively waiving up to $10k in mortgage insurance, and all are offering interest rates as low as 2.19 per cent.
Recent research shows 51 per cent of potential first home buyers intend to buy within the year – little wonder with such compelling offers on the table.
For more information on how you can get on to the property ladder, please contact your Origin broker on 1300 30 67 67, or contact us here.
Origin Finance is a
Are people who had purchased homes before 2000 eligible? for first home loan grants
Hi Manjeet, unfortunately not.
That said, there are quite a few good initiatives to help potential property buyers at the moment. Would you like me to give you a call and walk you through the options?