NSW FHOG Threshold increased to $750k

[Shahin_Afarin]

This is a good outcome considering the way the Sydney market has performed over the last 18 months:

http://smh.domain.com.au/real-estate-news/budget-boost-for-firsthome-buyers-20140607-39pko.html

I am developing townhouses and my properties now falls into this bracket so I'm quite chuffed!

 

[hobo-jo]

So you have no problems with middle class welfare being scraped from the pockets of hard working taxpayers to be given out to those preparing to pay ridiculous amounts for new Sydney properties?

Perhaps not, given you are destined to benefit from it, but personally I find these sorts of government handouts despicable.

 

[fokas]

They're increasing the FHOG threshold to an amount that is likely far out of reach to first home buyers anyway, but they've axed the FHSA account which was a great help to assist with first home buyers? Seems silly to me, but I guess it makes sense as I they'd be losing a decent amount of money with giving 17% interest on untaxable funds.

 

[Bantam Roosta]

but they've axed the FHSA account which was a great help to assist with first home buyers?

They got rid of the FHSA because not many people took it up because it was too restrictive. The government expected 750,000 people to open an account, but less than 50,000 actually did. Therefore, they scrapped it.

The FHOG is a much simpler process and happens immediately: you don't need to wait 4 years to access it.

BR

 

[boeman]

middle class welfare .

I find this despicable and am glad it has been reigned in. Just the term alone is laughable when generations before me (my parents included) got $0 with 3 kids and they have done just fine.

People get loaned money to go to university, earn on average 75% more than someone without a degree, and then end up getting some form of welfare if they have children.

Much rather they do FHOG schemes to encourage people to purchase property which in the long run should help them try and be self-funded retirees one day, and slowly phase out welfare to everyone minus those who cannot work or have served in war.

 

[Mr T]

I assume more FHB would be back in the market....let's c