First Home Buyers benefitting from NSW Government Assistance

By Greg Warren MP

07 August 2024

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 1,144 in Campbelltown who have saved an average of $21,178.

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 Campbelltown reach their goal of home ownership sooner, while keeping more money in their pockets.

 

Member for Campbelltown Greg Warren said:

"Housing is the single biggest cost of living pressure facing people, and this program is helping tens of thousands of people across NSW to buy their first home."

 

"These savings give first home-buyers an advantage when bidding against established investors and home owners."