cessation of first home buyers grants, page-24

http://www.homeloanexperts.com.au/tag/first-home-owners-grant/

- in Qld it looks like its the stamp duty grant that will disappear in January 2012. So I'm happy to stand corrected.

- in NSW refer to changes below disadvantaging buys by $17,990.

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"From January 1, 2012, New South Wales first home buyers will only be eligible for a stamp duty exemption on
newly built and “off the plan” homes.

These changes will significantly disadvantage a large majority of first home buyers, as over 80% of homes bought in NSW are existing properties.

Consequently, NSW first home buyers will need 3% to 4% more when purchasing an existing property.

They may also find it harder to save for a deposit, resulting in a greater reliance on 95% LVR loans.

Additionally, guarantor loans are expected to become the main method used by NSW first home buyers as they allow you to borrow the full cost of the home, as well as stamp duty.

As the deadline gets closer there is a strong chance that the prices of houses will rise, so it would be best for NSW First Home Buyers to act quickly and buy as soon as possible.

If you are a NSW first home buyer try to purchase a property before the end of the 2011 year.

If you are a NSW first home buyer and were to purchase a property before January 1 2012 with a value of $500,000 you would save $17,990" !
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The Queensland government has announced a new grant for eligible property purchasers called the “Queensland Building Boost Grant”. Details are as follows:

¦the amount of the grant is $10,000.
¦the grant is available to any person, corporation or trustee buying or building a new home to live in or for investment purposes.
¦the property value must be less than $600,000.
¦the grant is available on property purchases or home building contracts made between 1 August 2011 and 31 January 2012. For owner builders, building works must start between these dates.
¦the grant is in addition to any other grants (i.e. First Home Owner Grant) or any duty concessions that the customer may qualify for.