This article is from the Australian Property Journal archive
MORE than 50,000 first home buyers have now purchased a home with help from the NSW Minns Labor government’s stamp duty assistance program, with total stamp duty savings for first home buyers topping $1 billion since July 2023.
The initiative has seen first home buyers save an average of $20,540.
The First Home Buyers Assistance Scheme provides a full exemption from stamp duty for eligible buyers purchasing up to $800,000, and a concession for purchases between $800,000 and $1 million, meaning first home buyers can save up to $30,529 in stamp duty.
Of the more than 50,000 first home buyers who have received support under the Minns Government’s program, more than 37,000 first home buyer households received a full exemption and more than 14,500 received a concession.
“There is more to do on cost of living, but this is real relief that has helped 50,000 NSW singles, couples and families,” said NSW Premier Chris Minns.
“Our government is helping more buyers to get a foot on the ladder, without having to leave Sydney or NSW.
“This is the best first home buyer scheme in the country, and just one part of our plan to address the housing crisis and build a better NSW.”
Minister for Finance Courtney Houssos said, “Families and households in NSW are feeling under pressure with increasing costs of living. We want to support families and households to realise the certainty of home ownership.”
