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First home buyers tipped to increase

First Home Buyers accross Australia are expected to boost property markets as they seek to climb aboard the property ladder, and Sydney is expecting a significant lift from this sector in 2007.

An increase in the number of people intending to purchase their first home within 12 months points to a recovery in the residential property market.

A survey by Nielsen Media Research has shown a 20 per cent increase in the number of potential first home buyers.

Thinking of buying your first home?

  • You are entitled to a one-off $7,000 government grant. For more information on the Federal Government’s first-home buyer’s grant and how to apply, visit www.firsthome.gov.au
  • You pay no stamp duty if the purchase price of your first home is less than $500,000.
  • If the purchase price is between $500,000 and $600,000 you pay a discounted rate. Visit the NSW Office of State Revenue website for more information, www.osr.nsw.gov.au

aussieproperty.com Footnote: The First Home Buyer Grant is available to anyone living in Australia, including newly arrived Migrants and returning expatriates.

- buyer, market, growth, first

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