Want to know how much your neighbours paid for their first homes?
First home buyers wanting to crack into the property market can now use an interactive map to see how much their neighbours spent on average for their first home.
First home buyers wanting to crack into the property market can now use an interactive map to see how much their neighbours spent on average for their first home.
If you didn’t back a winner on Melbourne Cup Day then fret not: the Reserve Bank of Australia (RBA) has delivered mortgage holders a win by cutting the official cash rate by 15 basis points to a new record low of 0.10%.
Great news for homeowners and prospective buyers: housing affordability is at its best level in a decade and should continue to improve throughout 2021.
The First Home Loan Deposit Scheme is back; bigger, better and more buyer-friendly than before. If you’re a first home buyer who missed out on the first two rounds, then here’s how to make it a case of third time’s a charm!
The majority of property investors are remaining upbeat despite COVID-19, with 67% believing now is a good time to invest in residential property, according to a new survey.
Strap yourself in: Australian house prices are tipped to experience a mild COVID-19 dip before surging 15% over the following two years, according to some of the nation’s top economists.
Like most sequels, JobKeeper 2.0 won’t be as big a blockbuster as the original. But that’s not to say it won’t help many SMEs navigate the difficult times ahead. Today we’ll cover what you need to know about making the transition for your business.
You might have heard that the federal government will give eligible Australians $25,000 to build or substantially renovate homes as part of the new HomeBuilder scheme. Today we’ll look at who exactly can qualify for the initiative.
Australian homeowners will be offered grants of around $25,000 to build new, purchase new or renovate their existing homes as part of the HomeBuilder Scheme as announced by the Federal government last week.
The scheme was developed to protect the residential construction industry, particularly tradies’ jobs, in the wake of the COVID-19 pandemic. The scheme represents a significant opportunity for first home buyers and existing owner occupiers, but eligibility criteria and value thresholds do apply, so we’ll keep it Simple.
What you need to know:
Finer details:
As digital and mobile brokers, if you’re looking to purchase your first home, or you finally think you might be ready to make substantial home improvements, we’ll take the pain away from arranging finance. Later this week, we’re releasing our updated eBook with real life examples as to how you might access HomeBuilder as a first home buyer or using equity in your existing home. Stay tuned to our channels to find out more.
Buying your own home has long been the Aussie dream, but it’s a dream that comes with a large price tag. Fortunately, the First Home Owner Grant (FHOG) exists to make the home ownership dream that much more attainable for eligible first home buyers by providing them with a one-time payment.
The FHOG has undergone many changes since its inception in 2000 and is now directed toward new or substantially renovated houses. The grant differs across the states and territories, with each region having its own eligibility criteria needing to be met by all applicants.
Below is a summary of what’s available in each state and territory. For more information be sure to check out the links for the region relevant to you.
$10,00 is available when purchasing or constructing new homes. To be eligible, the newly constructed residence needs to be valued at less than $600,000; If building, the combined value of the house and land must be less than $750,000.
Stamp duty exemptions are available for houses valued at less than $650,000, or for vacant blocks valued less than $350,000. Concessions are available for homes valued between $650,000 and $800,000, or for vacant blocks valued between $350,000 and $450,000.
Read more at http://www.osr.nsw.gov.au/benefits/first_home/
FHOG of $15,000 is available to purchase or build new homes valued at less than $750,000.
Stamp duty concessions can be accessed when buying a house worth less than $550,000, or a block less than $400,000.
For more information see https://www.qld.gov.au/housing/buying-owning-home/financial-help-concessions/qld-first-home-grant
A grant of $10,000 is attainable when purchasing or building a new residence in metropolitan Melbourne, valued at less than $750,000. While $20,000 is available for homes of the same value in regional Victoria.
Homes valued at less than $600,000 are exempt from stamp duty, while homes valued above this amount up to $750,000 are eligible for a concession.
Details at http://www.sro.vic.gov.au/
A new or substantially renovated home worth up to $750,000 will attract a $7,000 grant.
Stamp duty exemptions apply if the buyers live in the home continuously for 12 months, have not owned a property in the last two years, are over 18, and have a combined income less than the specified threshold (the threshold varies between $160,000 and $176,650 depending on how dependent children are present.
More information at http://www.revenue.act.gov.au/home-buyer-assistance/first-home-owner-grant
$15,000 is obtainable for new homes up to the value of $575,000 being purchased or built.
No stamp duty concessions apply specifically for first home owners in SA, but the stamp duty payable on a new or refurbished apartment will be capped at a $500,000 valued apartment.
Find more information at http://www.revenuesa.sa.gov.au/
$20,000 can be secured for buying or building a new home. From 1 July 2020, the grant will reduce to $10,000.
Properties valued at less than $400,000 attract a 50% stamp duty discount.
More details available at http://www.sro.tas.gov.au/
FHOG of $10,000 applies for purchasing or building a new home up to the value of either $750,000 or $1 million, depending on the location.
Stamp duty exemptions are available for homes valued at less than $430,000 and land worth less than $300,000. Concessions are available for values above these amounts up to $530,000 for homes and $400,000 for land.
See more at http://www.finance.wa.gov.au/cms/State_Revenue/FHOG/First_Home_Owner_Grant.aspx
Northern Territory
$10,000 is available to buy or build a new home up to any value.
A stamp duty discount of up to $18,601 can be attained through the Territory Home Owner Discount (THOD).
More info at http://www.revenue.nt.gov.au/