PROP­ERTY

Pilbara News - - Lifestyle - Sandra Argese

STAY UP TO DATE WITH REAL ES­TATE.

The in­crease of the First Home Owner Grant has al­ready gen­er­ated a pos­i­tive buzz as buy­ers flock to build their first home.

The in­crease ap­plies to con­tracts se­cured from Jan­uary 1 to De­cem­ber 31, 2017, for the pur­chase or con­struc­tion of a new home.

Sub­ject to el­i­gi­bil­ity, first home­own­ers can ap­ply for a grant of up to $10,000.

Af­ter this, they may be el­i­gi­ble for an ad­di­tional boost pay­ment of $5000.

Be­fore this in­crease, the grant stopped at $10,000.

Plun­kett Homes and Do­main by Plun­kett group sales man­ager Jeremy Muir said the grant would de­liver an ad­di­tional de­mand for hous­ing.

“It will help make build­ing your first home more af­ford­able, mean­ing more peo­ple will be build­ing a new home as a re­sult,” he said.

“First home­buy­ers in WA re­ally do have one of the best op­por­tu­ni­ties to build right now, but the win­dow is clos­ing. Land is the most af­ford­able it has been in many years, while the $15,000 grant, com­bined with some very com­pet­i­tive build­ing prices, means the cost of get­ting into your first home is the low­est it has been for many years.

“Add in the fact ad­min­is­tra­tion and build times are both great at the mo­ment, and things could not be much bet­ter for firsthome­buy­ers.”

Sum­mit Homes Group gen­eral man­ager Metro Tony Harvie said he had al­ready ex­pe­ri­enced more buoy­ancy this year via Sum­mit’s new Easys­tart Homes and New Gen­er­a­tion Homes brands, both of which specif­i­cally catered to first home­buy­ers.

“This very wel­come news means first home­buy­ers don’t pay stamp duty on land up to $300,000, or on brand new homes up to $430,000,” he said.

De­spite the ex­cite­ment that the up­dated grant is bring­ing to the mar­ket, Mr Harvie said it was cru­cial home­buy­ers un­der­took re­search be­fore sign­ing up for a deal.

The jobs mar­ket in the con­struc­tion in­dus­try is also look­ing more promis­ing , as it in­evitably means more homes will be built.

For more in­for­ma­tion, visit www.fi­nance.wa.gov.

The hous­ing mar­ket is abuzz with op­por­tu­nity, af­ter an in­crease to the First Home Own­ers Grant.

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