First homebuyers in Tasmania have six months until several concessions are scheduled to come to an end. They can currently get three types of state government help-to-buy, but there's no guarantee the incentives will be extended beyond June 30.
00:00For wildlife carer Alison, owning her own home has been a game changer.
00:07It's fantastic because I've been able to take some birds on and help them get homes and have the space to do that without worrying about landlords.
00:16It took her seven years to save up to buy her home in 2024. She doubts she'd be where she is now without government concessions.
00:24I would have been a lot worse off financially, so I would have needed to take out a higher loan.
00:31Currently eligible first home buyers can get a $30,000 grant to buy or build a home in Tasmania. That grant ends on June 30.
00:40There's also a stamp duty exemption for buying an established home for up to $750,000, also ending June 30.
00:49And Tasmania's My Home Shared Equity Scheme is available to eligible buyers with at least a 2% deposit.
00:56Mortgage broker Jonathan Coleman expects the concessions will continue in some way beyond their current expiry date.
01:03If they were to end, I think it would grind the first home buyer market to a halt.
01:09But generally what we see is the government adapting to the market and how many people are getting in.
01:15All these matters will be considered in the budgetary context.
01:19Tasmania is still the only state or territory that hasn't signed up to the federal government scheme help to buy.
01:25The state government insists it's doing enough to help first home buyers and says increasing the supply of housing is key.
01:32What we need is local councils freeing up land for subdivisions.
01:37We need the approvals coming through.
01:39So that's all part and parcel of the mixed policy area.
01:45So that might be a lot of length of the property that you go for now.
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