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Changes to First Home Owners Grant Supports New Build Homes

By Matt Hurlston

If you are a first-time buyer looking for a newly-built property in Victoria, changes to a popular grant program could enable you to make even more savings.

This is the message underlined by the state government earlier this week, as it pledged to increase the First Home Owner’s Grant from $7,000 to $10,000 for those who are keen to buy a new-build property.

The increase will apply to anyone purchasing a newly-built house or apartment for the first time, including off-the-plan purchases, properties that are being sold as a residential premise for the first time, owner-builder constructed homes and those constructed under a home-building contract.

State treasurer Michael O’Brien said: “Targeting the grant to newly constructed homes – whether in regional Victoria, Melbourne’s growth corridors or new CBD apartments – will stimulate the economy and create jobs in the construction sector.

“These measures will promote more housing construction leading to more employment, greater housing supply and reduced residential price pressure for Victorian families.”

If you are keen to explore your options for a first-time property purchase in Oakleigh, contact the team at Ray White Carnegie for more information. We’re perfectly positioned to give you the support you need for your Oakleigh real estate purchase, and can help you through every stage of the process.

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