Parliamentary Secretary for the Central Coast Scot MacDonald MLC has urged first home buyers on the Central Coast to continue taking advantage of stamp duty relief measures from the NSW Liberal & National Government through the First Home Buyers Assistance Scheme.
553 stamp duty exemptions were granted on the Central Coast between July and October this year, compared to a total of 248 granted exemptions on the Central Coast for the whole of 2016/17.
The First Home Buyers Assistance Scheme 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 said the rapid uptake of exemptions was allowing more Central Coast residents to get into the property market.
“If the current rate of uptake continues, the 2017/18 financial year will see an uptake over 6 times that of the previous financial year”.
“The Central Coast Regional Plan identified a need for 41,500 more homes on the Central Coast by 2036. These measures are helping aspiring home owners and families across the Central Coast enter the housing market”.
“It is only through strong fiscal discipline and economic management that the Government is in a position to offer these stamp duty exemptions. This is a policy that can only be delivered and continued by a Liberal National Government.”
For more information visit: https://www.nsw.gov.au/improving-nsw/projects-and-initiatives/first-home-buyers/