WA homebuyers to receive $20,000 grant for new builds

WA homebuyers to receive $20,000 grant for new builds

8 Jun 2020 -- Posted by : Tristan_Kirkham

The West Australian Government has unveiled a $125 million stimulus package for the state's home building sector, providing cash grants to prospective homebuyers.

The move has been welcomed by the WA building industry which is facing the prospect of reduced home building starts due to the impact COVID-19 has had on sales.

The key points:

  • Owner-occupiers and investors will receive a $20,000 grant for new homes on vacant land.
  • The grant will not be means tested.
  • There is no property value cap.
  • Contracts must be signed by 31st December 2020.
  • Will include the purchase of a sinlge storey property in a development already under construction.
  • Multiple grants can be paid to the same applicant.
  • An existing stamp duty rebate has been extended to unsold apartments.

NHBB welcomes the scheme and can see many benifits for both clients and the industry.

When combined with the federal government scheme it provides a significant cash incentive to buyers.

Read more about the Building Bonus here...

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