First Home Owners Grant increase to $15,000*
With recent changes to the first home owners grant, eligible first home buyers can now purchase one bedroom apartments at Liv from $400,000 less $15,000 FHOG and with no stamp duty payable** AND Two bedroom apartments from $545,000 less $15,000 first home owners grant *
The Western Australian Government has announced changes to both the First Home Owners Grant (FHOG) aimed at increasing access to funds for first home buyers, and stimulating construction.
The changes announced last week include:
- An increase to the FHOG from $10,000 to $15,000 for new homes up to the value of $750,000 (effective from 1 January, 2017 for 12 months).
- Increase applies to contracts for the purchase or construction of new homes including ‘off-the-plan’ apartments.
Finance and Small Business Minister Sean L’Estrange said the new $5,000 boost payment would apply to contracts entered into between January 1, 2017 and December 31, 2017 for the purchase or construction of new homes. Homes must be completed within certain timeframes. Those buying a new ‘off-the-plan’ home, including apartments, will need to make sure construction is completed by June 30, 2019, he added.
Liv Apartments are currently under construction and expected completion is mid 2018.
For further information about the First Home Owners Grant (FHOG) including eligibility at Liv apartments, please register now
*Subject to eligibility
** No stamp duty payable for apartments under $430,000 subject to first home owner eligibility