First home buyers could save over $70k in government assistance

Graeme Salt Broker 2, News 1 Comment

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.

StateNew Home
Builder Grant
First-Home
Buyers Grant
Regional new
home build
BonusMax 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
(Scroll sideways on mobile)

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.

Comments 1

Leave a Reply

Your email address will not be published. Required fields are marked *