First Home Buyer Changes in NSW

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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. 

 

Author

Jonathan became a lawyer in the Supreme Court of New South Wales in 2011 and is also admitted to the High Court of Australia. He has extensive knowledge in real estate, insurance, court disputes, personal injury, and commercial law.

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