In August 2017, there were 10,227 owner occupier first home buyer finance commitments. The 10,227 commitments was the greatest number since December 2009 and it represented 17.2% of all owner occupier housing finance commitments, its highest proportion since July 2013.
A big driver of the surge in first home buyer housing finance commitments has been some recent policy changes for first home buyers in the two largest states (NSW and Vic). From July 1 of this year first home buyers purchasing properties below $650,000 in NSW and below $600,000 in Vic do not have to pay stamp duty.
PIA has a range of properties and off-the-plan projects available at affordable prices. Many of our properties have incentives to assist First Home Buyers crack into the market. Incentives include; settlement rebates to split deposit (i.e. pay 5% now and 5% 6 months later). Typically you must put down min 10% to exchange a property.
The existing First Home Owner Grant applies to properties up to $600k and stamp duty rebates apply to properties up to $650k. PIA offers additional benefits through our Smart First Home Buyer options available on some projects, people can pay 5% and then have another 6 months to save up the balance.
You can save up to $30,000 dollars on stamp duty fees when purchasing a property under $650,000, plus save extra through purchasing a brand new apartment at a lower cost when buying off-the-plan properties.
Extra savings for will not only help financially, this gives first home owners the opportunity to save added costs that could potentially go towards investing and growing property portfolios, helping to shape the future of young Australians.
Follow the link view affordable PIA properties on the market.http://www.pia.com.au/en/buy-sydney-property/?format=list&project_search_title=&project_search_type=&project_search_min_price=&project_search_max_price=650000&project_search_beds=&project_search_baths=&project_search_parking=&filter_form_sort_published=1&filter_form_sort_current=1&filter_form_order=1
Read full article here: https://www.corelogic.com.au/news/first-home-buyers-bounce-back-stamp-duty-concessions-vic-and-nsw#.We00WLkUmUl
