Boost for First Home Buyers

The Federal Government has announced significant increases to the Grant available to first home buyers. The new measures now bring the total available to those buying a newly constructed home to $26,000 increasing to $29,000 in regional Victoria (subject to certain requirements).

First home buyers purchasing an established home will now be entitled to $14,000 increasing to $17,000 (subject to certain requirements).

First home buyers will be eligible for the new additional assistance for contracts entered into from 14 October 2008 to 30 June 2009.

Under the First Home Owner Boost:

  • First home buyers who purchase established homes will receive an extra $7,000 to take their grant to $14,000 and
  • First home buyers who purchase a newly constructed home will receive an extra $14,000 to take their total grant to $21,000.
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Published on October 10-th, 2008 in Home Loans
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.
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