First Home Buyer Changes in NSW

On 1 June 2017, the NSW government advised that they were supporting first home buyers.

According to the NSW government’s website, they have announced a:

“comprehensive package to improve housing affordability is focused on helping first home buyers, who often face stiff competition from investors. 

• abolish stamp duty on all homes up to $650,000
• give stamp duty relief for homes up to $800,000
• provide a $10,000 grant for builders of new homes up to $750,000 and purchasers of new homes up to $600,000
• Abolish insurance duty on lenders’ mortgage insurance
• ensure foreign investors pay higher duties and land taxes
• no longer allow investors to defer paying stamp duty on off-the-plan purchases.”

Read more here: https://www.nsw.gov.au/improving-nsw/projects-and-initiatives/first-home-buyers/

Looking to buy or sell? Call us on (02) 9191-7319 or email us at info@westla.com.au for further information.