NSW home buyers to receive $3k boost |
New home buyers in New South Wales are set to get a $3,000 boost in next weeks mini-budget.
The State Government will increase the first home owners grant for people buying newly constructed properties in next Tuesdays mini-budget.
It means people will now be eligible for a total of $10,000 from the State Government plus $14,000 from the Commonwealth.
People buying new properties worth up to $500,000 will also be eligible for stamp-duty concessions, meaning they will get up to $42,000 worth of assistance.
A spokeswoman for Premier Nathan Rees says people can start applying for the increased grant next week.
But it has been confirmed that the cost of providing the first home buyers grant will be offset by means testing the grant.
This means no assistance will be available to people buying properties worth $750,000 or more.
Graham Woolfe from the Housing Industry Association says the boost should stimulate sales, helping the states economy.
"It is going to be warmly welcomed and it is going to stimulate the new home construction industry,"he said.
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