Cash splash for first-time new homebuyers in Tasmania

Cash splash for first-time new homebuyers in Tasmania

Posted on Friday, November 08 2013 at 4:10 PM

First homebuyers in Tasmania who buy or build a new home will now get double the government grant to do so.

Premier Lara Giddings today announced a
“supercharging” of the First Home Builder Boost to $30,000, in a bid to
stimulate activity in the construction industry.

That’s an immediate increase from the
$15,000 cash splash, which was boosted last year from the previous $7000

Back then, it was hoped the extra
generosity would spark a slew of first-time buyers, but take-up was slower than

“It was always expected the applications
would accelerate over time, but we recognise the need to create jobs right
now,” Giddings says.

“Builders have told us there has been a lot
of interest from people wanting to build their first home, but they needed more
time to accumulate a deposit. This is why we’ve taken the decision to
turbo-charge the incentive.”

Based on the average cost of building a new
home, the grant should cover most of the deposit required, Giddings believes.

The grant is now the most generous in
Australia. The boosted scheme will run until December 2014.

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