News National First home buyers extended in NSW

First home buyers extended in NSW

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The NSW government has freed land for 6600 new homes in Sydney’s northwest and will extend a first home owner grant in next week’s budget.

Land at Marsden Park North, Richmond and Blacktown has been released or rezoned for housing, Premier Mike Baird announced on Saturday.

The Marsden Park land has space for 4000 new homes and is close to where the North West Rail Link is being built, while the land at Blacktown is on an old golf course.

“In western Sydney, there is a massive housing boom occurring and the unlocking of up to 6600 new housing lots at three sites will boost housing supply and make homes more affordable,” Mr Baird said in a statement.

The government claims 100,000 new homes have been built across NSW since the March 2011 election.

Treasurer Andrew Constance also announced that next week’s state budget will extend eligibility criteria for a first home owner grant by $100,000.

It means first-time buyers who purchase new properties worth up to $750,000 will qualify for the $15,000 payment. The previous threshold was $650,000.