Fhog

HI People,

how much is the FHOG now in Victoria and NSW?

Is it true when people buy in NSW with FHOG, they don't have to pay stamp duty?

I heard from an agent that the FHOG will be abolished altogether at end of December this year? This this true?
 
thanks savoys!

Does anyone know if i buy a house and land package with the FHOG, when can I claim the FHOG?

Also, it says 30 Sept is the cut off date, does that mean I have to sign the land contract by 30 Sept, or must also have the Building Contract done by 30 Sept?
 
thanks savoys!

Does anyone know if i buy a house and land package with the FHOG, when can I claim the FHOG?

Also, it says 30 Sept is the cut off date, does that mean I have to sign the land contract by 30 Sept, or must also have the Building Contract done by 30 Sept?

You claim the FHOG at settlement.

You have to exchange before 30sept building and settlement can be completed later (although from memory there is also a limit on how long this can take after exchange of contracts, but cann't remember what).
 
In Victoria until the end of September, the FHOG is $16k, then it becomes $12.5k for existing properties. From January it will become $9k.

Given the way it's dropping ($3.5k every 3 months) it's hard to see that the lowering of the grant will result in a property crash. For a young professional couple $3.5k only represents 1 to 2 months of hard savings if they're focused.
 
Top