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01 January 2010

FHOG to have limits in 2010

To this day (literally), there has been no price limit on a house eligbile for the First Home Owner's Grant (FHOG). Conceivably, a $5m home could have been paid the FHOG grant.

Starting in 2010, states and territories have been given the power to set price caps. So far New South Wales, Victoria, Queensland, Western Australia and the Northern Territory have specified their top price.

Queensland is the winner so far with a $1m top price, whereas Victoria is set at a more modest $600k and NSW / NT at $750k.

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