Port Stephens Real Estate Set For a Mini Boom, Commencing 1 July 2011 Is The Regional Relocation (Home Buyers Grant) Act 2011
For the next 4 years the NSW Govt are granting $7,000 to people who buy a property outside Sydney Metropolitan, Newcastle or Wollongong and move into it for 12 months and that includes Port Stephens Real Estate.
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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 of the Sydney metropolitan area, Blue Mountains, Hawkesbury, Gosford, Wyong, Wollondilly, Wollongong and Newcastle.
The regional areas are participating local government areas which are located outside of the metropolitan area.
Port Stephens Real Estate Agents say that now is the right time to relocate to the beautiful Port Stephens and take advantage of the Relocation Grant.
Port Stephens is located just over 200 kilometers North of Sydney and 50 kilometers North of Newcastle.
Port Stephens Real Estate Eligibility Requirements:
All applicants must be natural persons and must not purchase the regional home in his or her capacity as trustee
At least one applicant must be an Australian citizen or permanent resident as at the completion date of the regional home purchase
All applicants must have entered into an agreement to purchase a home within a regional area, on or after 1 July 2011 and on or before 30 June 2015
All applicants must have owned and occupied the metropolitan home as their principal place of residence within 12 months before the commencement date (contract exchange date) of the regional home purchase
The consideration for the purchase or the unencumbered value of the regional home must not exceed $600 000
All applicants must sell the metropolitan home either before or within 12 months after the completion date of the regional home purchase
All applicants must occupy the regional home as their principal place of residence for at least 12 continuous months commencing within 12 months after the completion date of the regional home purchase
An applicant must not have received an earlier grant under the Regional Relocation (Home Buyers Grant) Act 2011.
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