Sharp rise in first homebuyer applications

Sharp rise in first homebuyer applications

Posted on Tuesday, November 26 2013 at 10:04 AM

Western Sydney suburbs make up 70 per cent of the top 20 suburbs claiming the First Home Owner Grant (FHOG) in New South Wales, according to Treasurer Mike Baird.

The take-up of
the FHOG in the top 20 suburbs had almost tripled in the past three years,
increasing from 780 in 2011 to 2042 in 2013.

The increase has
contributed to a 66 per cent rise in the total number of FHOG for new homes in
NSW in 2013.

According to Baird, new housing lots,
particularly in Sydney’s northwest and southwest growth centres, have been
unlocked and the infrastructure provided to support growth in these areas.

“We funded new infrastructure for up to 120,000
new homes in our last two budgets. Since the June budget, the number of new homes
released by this infrastructure has jumped to 134,325, with over 92,000 of
those homes in Western Sydney,” he says.

“The good news is
housing supply is finally rising to meet demand but there is much more work to

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