First-timers hit property ladder

On the move: Sydney's burgeoning west and south-west is proving to be the number one choice for first-home buyers. Photo: Louie Douvis

On the move: Sydney's burgeoning west and south-west is proving to be the number one choice for first-home buyers. Photo: Louie Douvis

On the move: Sydney's burgeoning west and south-west is proving to be the number one choice for first-home buyers. Photo: Louie Douvis

On the move: Sydney's burgeoning west and south-west is proving to be the number one choice for first-home buyers. Photo: Louie Douvis

WESTERN Sydney is the number one choice for first-home buyers in NSW, with suburbs in the growth centres receiving the majority of grants and concessions, according to the latest data.

In the 12 months to June 2014, 16 of the top 20 suburbs benefitting from the First Home Owner Grant are suburbs within Sydney's rapidly growing west.

Spring Farm in the South West growth centre topped the list, with home buyers receiving $7 million in grants and concessions, followed by West Hoxton, Werrington, St Marys, Liverpool and Parramatta.

"The NSW Liberals and Nationals Government is helping first-home buyers get on the property ladder, and also encouraging new building," Treasurer Andrew Constance said.

"We've got new home starts at 10-year highs, and a growing number of first-time buyers taking advantage of those new builds in our vibrant west."

Across NSW, total benefits received by Grant recipients was $224 million last financial year, including stamp duty concessions.

The latest figures come on top of new measures announced in the 2014-15 NSW Budget, with $83 million allocated to the Housing Acceleration Fund.

This will fund infrastructure aimed at unlocking new land, to continue to put downward pressure on house prices.

"We've also increased the threshold for the Grant by $100,000, meaning families can buy new homes valued up to $750,000 and still remain eligible," Mr Constance said.

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