Blog post courtesy of our sponsors PRD Albury
The ‘PRD First Home Buyers’ Guide 2021’ is designed to help you quickly understand what is on offer to first home buyers around Australia.
With so many programs and grants available at the various State and Federal Government levels, and its various updates at any given time, it can be difficult to determine what is relevant to your personal situation. This guide helps you do just that.
A combined understanding of all the applicable programs and grants will help you maximise the benefits you can access as a first home buyer and get you into the property market sooner.
National First Home Buyer Schemes
New South Wales First Home Buyer Schemes
First home buyers located in New South Wales have access to only two schemes, which is a concern as the state has some of the most expensive property market in Australia
Victoria First Home Buyer Schemes
First home buyers in Victoria also only have access to two schemes, as per below:
- First home owner grant $10,000 or $20,000 forregional Victoria
- First home buyer duty exemption/concession
There are many schemes and grants available for first home buyers across Australia. Depending on individual circumstances and the eligibility criteria, many first home buyers will be able to combine accessing national and state level schemes, which results in an unprecedented amount of monetary support from the government. Combined with historical low standard variable rate and the Reserve Bank of Australia’s (RBA) commitment to keeping a low cash rate, now is an opportune time for first home buyers to enter the market.