FHOG to be changed/increased?

[spludgey]

Hey Somersofters, I'm thinking of buying my first home (5 IPs) later this year. As it's now the lowest level of first home owners in the market ever, do you think that it's likely that the state government will change the FHOG any time soon?

I'm in NSW by the way and I was hoping that someone might have their finger on the pulse when it comes to this.

 

[D.T.]

In wa they recently changed it to be more money if building amd less if established. As a result building industry is going crazy (and so are blocks even tiny ones).

Obviously theres a limit of that they want to pay out so if they approach their quota they may adjust the requirements or amount to suit.

So, when was the last time it was changed it in nsw? Was that an increase or decrease?

 

[norwoodman]

In wa they recently changed it to be more money if building amd less if established. As a result building industry is going crazy (and so are blocks even tiny ones).

Obviously theres a limit of that they want to pay out so if they approach their quota they may adjust the requirements or amount to suit.

So, when was the last time it was changed it in nsw? Was that an increase or decrease?

NSW currently has a $15k grant for first time buyers who buy new homes, which is planned to be reduced to $10k at the end of 2015 - up to a value of $650k. There's no grant for purchasing existing properties (unless substantially/structurally renovated or rebuilt).

The story is similar in Queensland, which followed NSW's lead, but for properties up to $750k.