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New home grants in South Australia

SA homebuyers and builders are to receive a new grant.

A grant has been announced for individuals planning to build or purchase new homes in South Australia (SA).

Those embarking on new-build projects will receive AU$8,500 for Australian properties valued up to AU$400,000, Australian Property Investor reports.

SA premier Jay Weatherill said: "The property market is soft and the housing construction industry is doing it tough ... we need to put in place measures to give confidence to the industry."

He added that the move has been designed to combat the reduction in new developments that has been witnessed in recent months, with new-build projects falling in SA by 18 per cent in the last year.

Last month, the news provider reported the Queensland state government has announced it is scrapping the First Home Owner Grant in favour of the First Homeowners Construction Grant that will be offered to individuals who purchase a new-build home and live in the property for one year or more.

Posted by Steve Douglas

- grant, housing, property

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