MORE than 33,000 first home buyers across NSW have received substantial support towards buying their first home thanks to the NSW Government’s focus on getting more people into more homes sooner.
Beneficiaries of First Home Buyers Assistance include many in Mount Druitt. First home buyers across NSW have saved an average of $20,479 on stamp duty.
Over two thirds have paid no stamp duty at all. This makes a material difference for people while they save up for a deposit, helping them get into their dream home sooner.
The Minns Government’s program is providing real cost of living support for people buying their first home, helping them deal with the single biggest cost of living pressure.
The First Home Buyers Assistance program was expanded on July 1, 2023, increasing the threshold for a stamp duty exemption from $650,000 to $800,000 and lifting the stamp duty concession threshold from $800,000 to $1M.
The expanded thresholds mean that more than 18,000 first home buyers received greater support than they would have under the previous government.
This increased support has helped first home buyers in Western Sydney reach their goal of home ownership sooner, while keeping more money in their pockets.
Edmond Atalla MP, Member for Mount Druitt said: “I applaud the First Home Buyers Assistance program which is a welcome support towards homeownership and a more secure and stable future. The Minns government is building a community where dreams of owning your own home has become a reality.”
