From August 1, the NSW Government will temporarily pause stamp duty for first home buyers purchasing an off-the-plan home priced below $800,000.
The stamp duty concession sees the threshold for stamp duty increased from $650,000 to $800,000.
For homes worth between $800,000 and $1 million, the concession gradually phases out.
NSW treasurer Dominic Perrottet said the changes would save first home-buyers up to $31,335 on a new $800,000 home and up to $15,668 on a new $900,000 home.
“Thousands of people will see their bank balances benefit from this change—it will help get more keys into more front doors of more new homes”, Berejiklian said.
The scheme builds on the $10,000 first-home-owner grant as well as the recently announced $25K HomeBuilder grant – set to expire on December 31 2020.
Find Home at The Foundry
Designed by award-winning architects SJB, The Foundry forges the way for a design-led community of residents who seek out contemporary ways of living, which are intimately connected to the past, the surrounding landscape, and the rhythms of life.
With life’s greatest pleasures – natural light, fresh air and nature – being the cornerstones of The Foundry experience, the design is refined and calm and provides a framework for beautiful, mindful and easy-care living.
Apartment layouts are logical and symmetrical, with well-proportioned living spaces that maximise the usability and flexibility of the floor space.
Enjoy exclusive access to a rooftop pool – the highest within The Paper Mill Precinct – and its surrounding deck, a vantage point overlooking Georges River and beyond.
If you have been thinking about purchasing an off-the-plan apartment in 2020, there has never been a better time to buy.
Coronation Property is here to help you on your journey to finding your new home, or first home. To register your interest, click here.