The new NSW Government implements an updated First Home Buyers Assistance Scheme, that came into effect on the 1st July 2023, moving the threshold for stamp duty exemptions from $650,000 up to $800,000, and the threshold for stamp duty concessions from $800,000 to $1 Million. This change to stamp duty will allow thousands for First […]
The NSW Government is launching a shared equity scheme for eligible participants, paying a proportion of the property purchase price in exchange for equivalent ownership share of the property. No repayments will be required on the equity contribution, no rent, no interest charged whilst remaining eligible for the scheme. Voluntary reparents can be made to […]
PEXA Property and Mortgage insights reports that buyers splashed out on Australian property, summing to a total of $688.7B. The value of sale settlements jumped nationally by $251.0B, being an increase of 57.3% on 2020.
The Reserve Bank has left the official interest rate at a record low of 0.1% for the eighth month running, after meeting on the 6th July 2021. While there is no change to the cash rate target, the RBA has signaled that a rise may still come a little earlier than first indicated.
Government announced it’s approach is to enable banks to lend to people who have not be able to save a house loan deposit. First Home Buyers 5% Scheme, rebranded as New Home Guarantee for 10,000 eligible First Home Buyers. New Family Home Guarantee is designed to assist eligible single parents buy a home with a […]
The RBA is keeping interest rates at the historically low of 0.1%, noting that the housing market has strengthened. Growth to owner occupiers had picked up, and strong demand from first home buyers. Research from CoreLogic showed that home prices soared at the fastest rate in 32 years in March. The bank will continue to […]
Proposed changes to Stamp Duty, may provide freedom to choose paying Stamp Duty upfront or paying a smaller annual property tax. Removing the upfront Stamp Duty cost, removes thousands of dollars from the home purchase process making home ownership more achievable. This proposed change is only if purchasing. There is no change if you have […]
First Home Buyers will have an opportunity to enter the property market with a smaller deposit under a New Federal Government (new home loan deposit) Scheme which commenced 1st January 2020. Under the scheme, first home buyers with a deposit as small as 5% may be able to apply for a mortgage, which the government […]
The introduction of legislation giving effect to the Commonwealth Government’s deposit gap scheme is the first step in easing the pathway to home ownership. The scheme – promised on the eve of the federal election – helps reduce barriers to home ownership by closing deposit savings requirement and effectively reducing mortgage insurance costs. We welcome […]