The NSW Government is set to introduce a new package to improve housing affordability for first home buyers.
For first home buyers, this package will:
- Abolish stamp duty on all homes up to $650,000
- Give stamp duty relief for homes up to $800,000
- Provide a grant of $10,000 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
Concessions on vacant land will remain unchanged.
These changes will be effective from 1 July 2017.
If you require an experienced solicitor to assist with your conveyancing, you should give the office a call for a free quote.
The information contained on this website is for your general information only. You should contact us on 02 6362 5433 for advice tailored to your personal situation.