Following the State Budget announcement on 17 June 2014, the First Home Owners Grant (new homes) cap has increased from $650,000 to $750,000. This means that the total value of the new home being purchased or built by an eligible first home owner must not exceed the cap amount of $750,000, for contracts dated on or after 1 July 2014. This $100,000 increase is a significant change to the Cap and will make the grant available to a far greater number of first home owners.
Check out this link for more information regarding changes following the State Budget:
