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Earlier this month the Western Australian Government piled in behind Scott Morrison’s HomeBuilder program, offering a $20,000 non-means tested subsidy to all purchasers of a newly constructed dwellings.
Along with other available subsidies, this meant that first home buyers in Western Australia could ‘save’ around $60,000 on the cost of a new home, broken down as follows:
- $25,000 HomeBuilder;
- $20,000 Building Bonus;
- $5,000 Stamp duty concession; and
- if you’re a first home owner, another $10,000.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.