July 2021 The End of Paper Certificates of Title in NSW On 11 October 2021, the NSW government intends to end paper Certificates of Title (CTs) in NSW. The Real Property Amendment (Certificates of Title) Act 2021 brings in two key changes, being the cancellation of paper CTs and that all land dealings must be [...]
May 2021 New Single Parent Family Home Guarantee – Buying Property Assistance for Single Parents From 1 July 2021, single parents will receive assistance to purchase a property as a strategy to get more people into their own homes. Announced in Tuesday’s 2021-2022 Federal Budget, the government is set to provide a guarantee of 18 [...]
November 2020 NSW Government launches public consultation to abolish Stamp Duty on property purchases The NSW Government has announced in its recent State Budget a property tax model it says will make homeownership more achievable. The proposal would provide home buyers with the option of paying either a large lump sum upfront (similar to the [...]
November 2020 NSW Government interest free loans to Owners Corporations to fix cladding crisis The NSW Government has announced in the State budget the establishment of a $930,000,000 fund to allow Owners Corporations to take interest free loans to remove and replace unsafe cladding in approximately 225 strata buildings identified as “high risk”. The Government [...]
October 2020 Blanket Ban on Pets now Lifted by NSW Court of Appeal One of Sydney’s biggest apartment towers, the 260-apartment Horizon in Darlinghurst, has lost their four-and-a-half-year long battle to ban owners’ pets from their buildings. Horizon was struck down in a NSW Civil Administrative Tribunal finding, where tribunal members agreed with the pro-pet [...]
September 2020 Purchasing an Apartment? Beware of Cladding! Avoid costly mistakes when you find your dream apartment or investment unit by making sure you always check for combustible cladding. External combustible cladding presents a severe fire safety risk to all occupants of buildings. Concerns have been raised following the 2017 fire at London’s Grenfell Tower [...]
Regional Relocation Grant The Regional Relocation (Home Buyers Grant) Act 2011 will operate for four years, commencing 1 July 2011. The scheme will provide applicants with a one-off payment of $7,000 to assist them with the cost of relocating from their metropolitan home to a regional home. The metropolitan area means the local government areas [...]
The nation's only electronic conveyancing system is to be sacrificed to make way for a single national network. The decision to eliminate Victoria's $50 million system, known as ECV, was announced yesterday as part of a series of deals intended to cut the cost of buying a home by between $120 and $130. The national [...]
From January 2012 an eligible first home buyer will pay no stamp duty on the purchase of a new home, an off the plan purchase or vacant land with value up to $600,000 for new or off the plan and $450,000 for vacant land. For more information visit: www.osr.nsw.gov.au/benefits/first_home/faqs/first_home/
In its latest budget, the NSW Government has scrapped the $7,000 grant for first homebuyers, but investors who plan to buy a new property will receive incentives up to $35,240. From 1 October 2012, first homebuyers who buy a new property worth up to $650,000 will see their grant more than double to $15,000. This [...]
