Ahead of the 2017 State Budget, the NSW Government announced a housing affordability package. This includes a range of measures to support first home buyers, such as:

  • abolishing stamp duty on all homes (existing and new) up to $650,000
  • reducing stamp duty for all homes (existing and new) between $650,000 and $800,000
  • providing a $10,000 grant for the building of a new home worth up to $750,000 (including building a home on vacant land)
  • providing a $10,000 grant for the purchase of a new home worth up to $600,000
  • abolishing insurance duty on lenders mortgage insurance