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{{propApi.successMessage}} {{region}} Change locationFirst Home Owners can once again dream big of building a home in Tasmania
First Home Owners can once again dream big of building a home in Tasmania
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HIA Executive Director Tasmania, Stuart Collins said, “this announcement mirrors one of the key items on HIA’s wish list, by tripling the current First Home Owners Grant (FHG) and restoring it to previous levels.
“First homebuyers historically make up about 30 per cent of the market but recently these numbers have dropped alarmingly due to a number of market challenges, although clearly not helped by the lowering of the grant.
“With $30,000 available this will enable more first homebuyers to reduce upfront debt and secure home loans.
“This is significant as first homebuyers are a critical segment of the market in terms of the housing continuum. Encouraging more first homebuyers to build homes takes pressure off social housing and rental lists, increases housing supply and provides trade-ups for new builds in the future.
“Stimulating new construction across the state, also has a positive effect in supporting jobs and boosting the broader economy.
“In addition, HIA welcomes the increase in the value cap for new home construction under MyHome to $800,000, with the FHG able to be used in conjunction with this program.
“HIA urges other parties and candidates to match this commitment.
“However, we also need an incoming government to find a way to fast track ‘shovel ready’ land and simplify planning approvals, otherwise housing stimulus will be wasted,” concluded Mr Collins.
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