New South Wales property: buyers increase14 August 2016 by News Desk
New South Wales property data shows a rise in the number of first home-owners.
New South Wales property sales to first-time home owners increased by around 11 per cent over the past year
New figures come from the number of first-time home buyers claiming government grants that aim to help people buy their first home.
New South Wales offers two grant programs – the First Home Owner Grant scheme and the First Home – New Home scheme.
“Last financial year the number of First Home Owner Grants increased by about 900 to around 9,400 and the dollar value of those grants rose by 12 per cent to $138 million,” said NSW Treasurer Gladys Berejiklian.
New South Wales property: first time buyers
The First Homeowner Grant Scheme provides $10,000 towards the construction or purchase of newly built homes valued up to $750,000.
In addition to First Home Owner Grants the NSW government last year provided 9,522 stamp duty concessions to first home buyers worth $94.6 million.
The First Home – New Home scheme provides further financial assistance for first homebuyers by offering full exemption from stamp duty on new homes valued up to $550,000.
The First Home – New Home scheme also offers stamp duty concessions on new homes valued between $550,000 and $650,000.
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