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: