Hi Everyone,
Just heard on the radio that the Gov in SA have just announced a new set of grants for construction of new homes up to the value of $400k to stimulate the ailing construction industry in SA which is down by 18% according to latest figures.
At a glance $8500 is available to anyone building a new home in SA and is valid until June 2013.
There are also some changes to the First Home Buyers Grant.
Good news for SA with a deflated property market and the 70,000 odd tradies trying to make a living in a very tough environment.
Better get those plans into council…..
i did not knoe about it… when you heard it ???
It was announced today to try and stimulate economy and construction. Im not sure of the finer details but could be much needed boost..
I only heard it on the radio (?reliability) but new home buyers get about $23000 in grants.
Here's an exert from http://www.revenuesa.sa.gov.au/
Today, 15 October 2012, the Government announced that they have retargeted their home buyer assistance by:
• increasing the First Home Owner Grant (FHOG) for new homes from $7000 to $15 000 (ongoing) for contracts entered into on or after 15 October 2012:
• reducing the FHOG for established homes from $7000 to $5000 for eligible contracts entered into between the date the necessary amending legislation comes into force and 30 June 2014. The FHOG will be abolished for established homes from 1 July 2014; and
•replacing the $8000 First Home Bonus Grant with a Housing Construction Grant (HCG) of $8500 for all new home construction where contracts are entered into between 15 October 2012 and 30 June 2013 inclusive. The HCG will be available for properties valued up to $400 000, phasing out for properties valued up to $450 000.
Therefore first home owners if buying/building a new home get a total of $23500 in grants whereas a homeowner gets $8500 for new construction.
Another good article which shows the breakdowns: Might be interested in the 8.5K for new build or new home. The QLD 10K earlier in the year help with our Townsville IP!!
http://www.abc.net.au/news/2012-10-15/housing-grants-reformed-for-struggling-sa-market/4313764
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