The State Budget for the First Home Owner’s Grant has had some significant changes that will take place from September 2013 and means that 7 out of 10 first home buyers will be worse off.
Under the changes the grant has been slashed by more than 50% from $7000 to $3000 for buying an established home but has been boosted to $10,000 for newly built or building a new home.
But what does this mean for suburban Perth and for first home buyers wanting to buy new or build?
Perth will just continue to increase in size and spread further as suburbs such as Butler, Byford and Baldivis is where the more affordable living and land is located. Whereas just over 5 years ago it was Clarkson and Ellenbrook.
Unless more inner city land becomes available…. there isn’t much. Or changing the zoning to allow for multi storey developments and increased density would help or soon maybe Perth will one day be the size of Western Australia.
What’s your opinion on the FHOG budget? I’d love to hear what you have to say!