Regional Relocation Grant
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 NSW Government has announced that the Grant has been extended to apply to applicants buying vacant land valued up to $450 000, provided the applicant commences building within 6 months and occupation of the home within 12 months of completion of the land purchase. This applies to purchases from 1 July 2011.
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.
Eligibility Requirements
To be eligible for the $7,000 Regional Relocation Grant, the following criteria apply:
To be an applicant a person must own a regional property (acquired on or after 1 July 2011) and must also be the owner or previous owner of a metropolitan property
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 property purchase
All applicants must have entered into an agreement to purchase a home, or vacant land with the intention to build a home, within a regional area, on or after 1 July 2011 and on or before 30 June 2015
At least one applicant must have 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 or $450,000 for vacant land
The whole of the metropolitan home must be sold either within the 12 months preceding the commencement date (contract exchange date) for the purchase of the regional home or vacant land or within 12 months after completion of the purchase (date of registration)
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 or vacant land purchase
An applicant must not have received an earlier grant under the Regional Relocation (Home Buyers Grant) Act 2011.
Read more about the Regional Relocation Grant:
Apply online for the Regional Relocation Grant (preferred option)
