Western Australia’s First Home Owners Grant (FHOG) will be reduced to $10,000 at the end of June after the today’s announcement by the State Government.
The $5,000 boost was supposed to last the entirety of 2017 but the new State Treasurer, Ben Wyatt, said the boost had been cancelled because it did not have the desired impact of increasing the number of first home buyers, and that removing the boost early would save the Government approximately $20 million.
The announcement contradicts statements made by the Real Estate Institute of WA (REIWA) who earlier this month said that first homebuyers remain active and are continuing to take advantage of improved affordability in the market.
If you are a first homebuyer, the time to act is now!
Capricorn Beach have some of Perth’s most affordable beach-side lots, and can offer fantastic house and land packages to suit everyone’s budget.
To qualify for the $15,000 FHOG, buyers will need to have a signed land and building contract by June 30th. If you need advice on which builders can turn around the building contracts in time, please get in touch today: Capricorn Beach 08 9561 6018