The Australian Capital Territory (ACT) offers a First Home Owner Grant (FHOG) of $10,000 to eligible first home buyers purchasing or building a new home, subject to property value thresholds. This grant is designed to support housing affordability and encourage the construction of new dwellings in the ACT. The FHOG is complemented by stamp duty concessions, making it easier for first home buyers to enter the property market.
Eligibility for the FHOG in the ACT requires applicants to be first-time home buyers, Australian citizens or permanent residents, and to live in the property as their principal place of residence for at least 12 months. The property must be a new build, and applicants must not have previously owned or co-owned a home in Australia. The application process is simple, with most applicants applying through their lender or directly to the ACT Revenue Office.
The FHOG has helped many first home buyers in the ACT achieve their dream of home ownership. By reducing the upfront costs of buying a new home, the grant makes it easier for young families and individuals to enter the market. Combined with other government incentives, such as stamp duty concessions, the FHOG plays a vital role in supporting housing affordability and stimulating the construction industry in the ACT. For official information, visit the ACT Revenue Office website.
Find out more here:
https://www.revenue.act.gov.au/grants-and-concessions/first-home-owner-grant
