Parliamentary Secretary for the Hunter Scot MacDonald MLC has urged first home buyers in the Hunter to take advantage of stamp duty relief measures from the NSW Liberal & National Government.
New figures for the Hunter show more stamp duty exemptions in the first four months of the 2017/18 financial year than the total number of exemptions for the entire 2016/17 financial year.
1,832 stamp duty exemptions were granted in the Hunter between July and October this year, compared to a total of 1,113 granted exemptions in the Hunter for the whole of 2016/17.
The housing affordability package announced as part of the June Budget removes stamp duty for first home buyers for both new and existing homes for properties up to $650,000 and reduces duty for first homes between $650,000 and $800,000.
Mr MacDonald has encouraged people in the Hunter who thought a home was still out of reach to take a look at the relief measures available.
“I said at the time of the increase in Stamp Duty exemption thresholds, the Hunter was the ‘sweet spot’ for first home buyers and this is proving the case” Mr MacDonald said.
“It’s meant the end of renting or living with extended family for thousands of people and families since July and we look forward to watching those numbers grow in the months ahead”.
“Our government is focused on cutting the costs of living, whether that’s the price of your child’s weekend sport through the active kids rebate, the energy rebate to help put downward pressure on energy bills or green slip relief”.
“Effective housing policy is a key priority of the Berejiklian Government”.