Making Life Fairer For First Home Buyers In Our Region
Member for Bega Andrew Constance has announced a comprehensive package of measures which will give first homebuyers across our region a fair go at owning their own home by significantly reducing stamp duty and providing more housing choice.
Mr Constance said reforms are part of the NSW Government’s commitment for all hard working residents across our region to be able to aspire to own their own home.
“These far reaching changes could save first homebuyers up to $34,360, making purchasing your first home more achievable for many.
“While there are no easy solutions when it comes to housing affordability, residents who are saving to purchase their own home right across the Far South Coast will benefit greatly from these reforms,” Mr Constance said. “Stamp duty is a hurdle for first home buyers in our community so to give residents a fair go, we will abolish stamp duty for all first home buyers on properties costing up to $650,000 and provide stamp duty discounts on properties up to $800,000.
“Along with abolishing stamp duty for first home buyers, The NSW Government provide first home buyers grants of $10,000 to those building a new home up to $750,000 and those purchasing new homes up to $600,000.
“This will mean that many first homebuyers from Batemans Bay to Eden will not be paying stamp duty at all and if they choose to build, may have an additional $10,000 towards the cost.
These changes to stamp duty and support for new infrastructure will make regional Australia an even more attractive place for people to live, work and play.
“These are just some of the measures we are introducing to give local first homebuyers a fair go,” Mr Constance said.
“This package is another example of ensuring every community in NSW receives its fair share by allowing locals to get a foot in the housing market.” Media Release