The Tasmanian State Government has announced an increase in the first home owner’s grant for those buying or building a new house. This grant will now be $30,000, through to the end of 2014.
It is hoped that this will provide a boost to the building industry and employment, as well as helping people with a deposit for a first home.
Read the media release from the Premier’s Office below.
The First Home Builder Boost will be doubled to $30,000 to dramatically stimulate activity and job creation in the building industry.
The Premier, Lara Giddings, announced the new stimulus at the latest Jobs Forum in Launceston today.
The grant for first home owners who choose to buy or build a brand new home will be increased from $15,000 to $30,000, effective immediately.
Ms Giddings said the take-up for the grant, which was increased from $7000 last year, had been slower than expected.
“It was always expected that applications would accelerate over time, but we recognise the need to create jobs right now,” Ms Giddings said.
“Builders have told us that there has been a lot of interest from people wanting to build their first home, but they needed more time to accumulate a deposit.
“That is why we have taken the decision to turbo-charge the incentive for people to build their first home, effectively paying the cost of a deposit on an average new home build.
“With record low interest rates, affordable house and land packages and now a $30,000 down payment from the State Government, there has never been a better time to build a home.
“By limiting the incentive for a short time period, we hope to see an uplift in building activity which will create jobs.
“I would encourage anyone who has been thinking about building or even buying a new home off the plan to think seriously about taking advantage of this offer.
Ms Giddings said the grant was now the most generous in the nation, particularly when taking into account Tasmania’s housing affordability.
“Tasmania already offers a lifestyle that is second to none and it is now amongst the cheapest places in the country to realise the great Australian dream of building a new home.
“The average cost of constructing a first home in Tasmania was around $234,000 in 2012-13 and this grant will make building an even more attractive proposition.”
“The scheme will run until December 2014, with the cost expected to be covered within the original $24.5 million Tasmanian Jobs Package.
What do you think? Would this grant make you consider new homes for your first home?