Parliamentary Secretary for the Central Coast Scot MacDonald has urged first home buyers on the Central Coast to continue taking advantage of stamp duty relief measures from the NSW Liberal & National Government through the First Home Buyers Assistance Scheme.
553 stamp duty exemptions were granted on the Central Coast between July and October this year, compared to a total of 248 granted exemptions on the Central Coast for the whole of 2016/17.
The First Home Buyers Assistance Scheme announced as part of the June Budget removes stamp duty for first home buyers for both new and existing homes for properties up to $650,000 and reduces duty for first homes between $650,000 and $800,000.
Mr MacDonald said the rapid uptake of exemptions was allowing more Central Coast residents to get into the property market.
“If the current rate of uptake continues, the 2017/18 financial year will see an uptake over 6 times that of the previous financial year”.
“The Central Coast Regional Plan identified a need for 41,500 more homes on the Central Coast by 2036. These measures are helping aspiring home owners and families across the Central Coast enter the housing market”.