Good news for WA first home buyers!

The Western Australian government has announced a temporary boost to its long standing First Home Buyers Grant, increasing the total amount from $10,000 to $15,000.

The boosted payment will apply to contracts entered into between the 1st of January 2017 and the 31st of December 2017 for the purchase or construction of a new home. Builders who lay the foundations for their home between these dates will also be eligible.

“Homes must be completed within certain timeframes. If you enter into a contract to build a home, construction must start within 26 weeks from you signing the building contract, and the home must be completed within 18 months after construction commences. If you are an owner builder or purchase a new home ‘off-the-plan’, including apartments, construction of your home must be completed by June 30, 2019,” said WA Finance and Small Business Minister Sean L’Estrange.

However, this boost has been met with ambivalence by potential buyers and concern from the property sector and sustainability experts.

Click on the ABC news link to read more.