First home-buyer numbers well up in Sydney

First home-buyer numbers well up in Sydney
First home-buyer numbers well up in Sydney

The NSW Premier Gladys Berejiklian says there had been 5400 more first-home buyers in greater Sydney since her government introduced stamp duty concessions in July 2017.

Stamp duty for first-home buyers purchasing a new or existing property valued up to $650,000 was eliminated last July, and discounts were offered to buyers with purchases valued between $650,000 and $800,000.

"I made helping first-home buyers one of my first priorities as Premier, so I'm thrilled that our stamp duty reforms are driving real outcomes for people in NSW," Ms Berejiklian said.

"While we know there is always more to do on tackling housing affordability, the results so far clearly show that we are turning the tide for first-home buyers."

Western and southwestern suburbs including Mr Druitt, Liverpool, Camden, Oran Park and Penrith had big increaseS in first-home buyers.

Regional Gosford and Wyong also had a rise in buyers.

The current brackets of discounts for purchases up to $850,000 was not enough to help many buyers even for western Sydney, HIA executive director David Bare said.

An influx of first-home buyers has also been recorded in Victorian municipalities including Melton, Wyndham, Hume and Casey since concessions were rolled out on July 1 last year by the Andrews Government, coinciding with continued strong price growth for houses and units. 

First Home Buyers Sydney


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