Regional Relocation Grant
The NSW Government is committed to helping as many people as possible with the cost of relocating from their metropolitan home to a regional home.
A summary of the regional relocation grant is now on YouTube:
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. By government regulation effective from 16 March 2012, the Byron local government area is declared to be an area for which the regional relocation grant is not available. This regulation will apply to any purchase which commenced on or after 16 March 2012. Purchase prior to that date may still qualify.
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) or be the lessee under a long term lease (entered into 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 or the commencement date of a long term lease
All applicants must have entered into an agreement to purchase a home, or vacant land on which to build a home, or be granted a long term lease over property, 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 or date of first execution) of the regional property purchase/lease
The consideration for the purchase or the unencumbered value of the regional home must not exceed $600,000 or $450,000 for vacant land. In the case of a long term lease the consideration paid (e.g. up-front fee, incoming contribution) for the grant or transfer of the lease must not exceed $600,000
The whole of the metropolitan home must be sold either within the 12 months preceding the commencement date for the purchase (contract exchange date) or lease (date of first execution of lease) of the regional property or within 12 months after completion. In the case of a contract to purchase, completion is the date of registration. In the case of a long term lease, completion is the date the lease commences
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 purchase, or the commencement date of a long term lease
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)
