The $7,000.00 first home owner grant for established properties (i.e. not brand new properties) will end on 30 September 2012 and will not be available for first home buyers where a contract for the purchase of established properties is entered into on or after 1 October, 2012.
The First Home Owner Grant (New Homes) Scheme will commence from 1 October, 2012 and the amount of the Grant will be $15,000.00. This will affect first home purchasers who enter into a contract to purchase a brand new home on or after 1 October, 2012. The $15,000.00 grant will be reduced to $10,000.00 on 1 January 2014 and will affect contracts entered into on or after 1 January 2014.