Council to help first home buyers with $83,000 deposit

FIRST home buyers could be handed up $83,000 under a bold new plan to help people find a home without having to build up the deposit.

There is one catch - the deal is only available for those wanting to live in the newly-developed West Dapto region of Illawarra in New South Wales.

Wollongong Council is offering to pay the 20% deposit on homes worth up to $415,000 as part of a plan to help singles, couples and families on lower incomes to buy a new home and land.

In the next three years, Lord Mayor Gordon Bradbery said he hoped the scheme would help at least 123 households by late 2017.

"This will hopefully allow people on relatively small incomes to find their way into the housing game, which many in our country are struggling to get into," he told the Illawarra Mercury.

The council is working through the details with NSW building society IMB.

Would you support the council helping first home buyers like this?


Topics:  editors picks property real estate

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Next generation of yogis learn in the Lockyer

TUNING IN: Sarah Weber runs her kids yoga class once a week, each term from her Cura Life Studio in Gatton.

Yoga teacher Sarah Weber shares the benefits of starting yoga early.

All's Wells for Madi after third national silver medal

RISING STAR: Lockyer District Athletic Club's Madison Wells celebrates her latest silver medal success with mum Sharyn and dad Lee in Melbourne.

Madison Wells won silver at the Australian Multi-events titles.

Bid on hot cross buns to help raise funds

GOING HOT: The Old Fernvale Bakery aim to raise $40,000 for the Lady Cilento Childrens Hospital by donating $1 from every pack of hot cross buns sold. Pictured here are Lyn and Bill Rose with the latest hot cross bun creation, cranberry, pistachio and white chocolate.

Help the Old Fernvale bakery get over the line.

Local Partners