The 2021/22 fiscal year is now underway and that means that many government programs and initiatives have been given the green light to go ahead. For anyone seeking to enter the property market, some welcome news is that price caps for homes bought under the First Home Loan Deposit Scheme, New Home Guarantee, or Family Home Guarantee have increased from July 1st 2021. In Melbourne and …
Federal government announces a new scheme to assist single parents with buying a home
As part of its 2021-22 Federal budget, the Federal government has announced a new scheme aimed at supporting eligible single parents to purchase a home. As explained on the Housing Australia website, the Family Home Guarantee "provides eligible single parents with dependants the opportunity to build a new home or purchase an existing home with a deposit of 2 per cent, subject to the individual’s …
The deadline to begin construction under the Australian HomeBuilder Grant program has been extended
On the 17th April 2021, the Federal government extended the deadline by which construction must commence under the Australian HomeBuilder Grant program. Initially, construction needed to have begun within 6 months of contracts being signed. That deadline is now 18 months from the date of signing. Applications for the Australian HomeBuilder Grant closed on Wednesday 14th April. …
400 First Homebuyers to Benefit from Victoria’s Equity Scheme
The government of Victoria will soon co-purchase houses with some 400 first homebuyers. Under the shared equity scheme called HomesVic, first homebuyers in the low-income group will be able to apply to cover up to a quarter of their mortgage. This will be available to those planning to buy in certain growth areas and regional centres. Last month, the state government of Victoria said it would …
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