NSW First Home Buyer Policy released. What does it mean for Gen XY and will it work?

The NSW State Government has announced its First Home Buyer Policy to help Generation X & Y buy their first home. The policy is a part of the NSW State Budget, due to be handed down on 20 June. It’s important to note that these announcements only and need to be passed by State Parliament before they apply. The Changes: Key changes for First Home Buyers 1: Abolishing all stamp duty for first homebuyers on existing and new homes up to $650,000 and stamp duty discounts up to $800,000. These changes, to be introduced on July 1 2017, will provide [...]

2018-02-23T17:22:10+11:00 June 2nd, 2017|Own It|

The NSW State Opposition Speaks Up About The Housing Affordability Crisis

Pre-empting the NSW State Budget on June 20, the State Opposition (NSW Labor) over the weekend released their plans to tackle housing affordability for first home buyers if they win the next election (2019). Key aspects of the announcement include1: 25% of dwellings constructed on government-owned land that is being redeveloped will be designated as Affordable Housing to rent or buy; 15% of dwellings on privately-owned land rezoned for housing will be designated as Affordable Housing to rent or buy; Conduct a full audit of all publicly-owned land and create an Affordable Housing Land Register; and Refocus Urban Growth to [...]

2018-02-23T17:27:57+11:00 May 29th, 2017|Own It|