First home buyer price thresholds: The cut offs you need to know

First home buyer price thresholds: The cut offs you need to know
First home buyer price thresholds: The cut offs you need to know

First home buyer grants aren't available for every first time buyer and there are many hoops that need to be jumped through. One of these hoops is buying a property that fits under a certain dollar value threshold.

Here are those cut off points across the country.

For more information as to which properties are eligible for a grant (the majority of offered grants are now for new builds only) you can see our state-by-state round up here.

For those who aren't first time buyers, here are the other grants on offer around the country.

AUSTRALIAN CAPITAL TERRITORY

Total value of eligible properties (home and land): $750,000 cap

Has applied since 1 September 2013.

Note: The new Over 60s Home Bonus Scheme has a cap of $764,999

NEW SOUTH WALES

At present, the cap for homes is $650,000.

For land, the cap is $450,000.

However, pre-budget announcements have confirmed that this will now be increased to $750,000.

NORTHERN TERRITORY

$600,000​ (established homes only)

QUEENSLAND

$750,000

SOUTH AUSTRALIA

$575,000

Note: The housing construction grant has a $450,000 cap.

TASMANIA

No limit.

VICTORIA

$750,000

WESTERN AUSTRALIA

$750,000

Or, if the home is north of the 26th parallel, then $1,000,000 or less.

Jennifer Duke

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

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National First Home Buyers

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