More than 33,000 first home buyers across NSW have received substantial support towards buying their first home thanks to the Minns Government’s focus on getting more people into more homes sooner.
Beneficiaries of First Home Buyers Assistance include many in Heathcote Electorate.
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 1 July 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 $1 million.
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 in the Heathcote electorate reach their goal of home ownership sooner, while keeping more money in their pockets.
Quotes attributable to Maryanne Stuart MP, Member for Heathcote:
“I am proud to see the positive effects of this program in our community. The increased support under the Minns Labor Government has enabled many first home buyers in Heathcote to reach their goal of owning a home while keeping more money in their pockets.
Increasing the threshold for a stamp duty exemption to $800,000 and lifting the concession threshold to $1 million means that more than 18,000 first home buyers, including many in Heathcote, are receiving greater support than ever before.
As the mother of a 27- and 24-year-old, and with 4 generations of my family living in the Heathcote Electorate, I am well-aware of the pressures young people are facing with housing and rental affordability.
I am pleased to work with the Ministers to deliver these changes on behalf of my community. I am always happy to hear from you."
