Eliza Owen, head of research at CoreLogic, believes that NSW’s announced stamp duty cuts for first home buyers (FHB) will assist the construction industry, but won’t improve access to affordable housing:
On the 27th of July, the New South Wales government announced eligible first home buyers could access stamp duty exemptions on new home purchases worth up to $800,000. New home builds will also see stamp duty discounts available for purchases between $800,000 and $1 million, where the discount reduces with a higher purchasing price.
The policy is a temporary, 12-month extension of existing stamp duty concessions from the 1st of August 2020.
