Member for Terrigal, Mr Adam Crouch, has announced a comprehensive package of measures which will give first homebuyers a fair go at owning their own home by significantly reducing stamp duty and providing more housing choice.
Mr Crouch announced the reforms with NSW Premier, Ms Gladys Berekjiklian, as part of the Government’s commitment for residents across NSW to be able to aspire to own their own home.
These far reaching changes could save first homebuyers up to $34,360, according to Mr Crouch.
“While there are no easy solutions when it comes to housing affordability, residents who are saving to own their first own home will benefit greatly from these reforms,” Mr Crouch said.
“Stamp duty is a hurdle for first home buyers, so to give residents a fair go, we will abolish stamp duty for all first home buyers on properties costing up to $650,000 and provide stamp duty discounts on properties up to $800,000.
“This means many first home buyers will not be paying stamp duty at all in the Terrigal Electorate.
“To meet demand, we also need more homes built in the right areas and with improved infrastructure.
“To achieve this, we will provide access to $3b from government, councils and developers,” Mr Crouch said.
“These changes to stamp duty and support for new infrastructure will make regional Australia an even more attractive place for people to live, work and play,” he added.
Premier Berekjiklian said this package was “another example of ensuring every community in NSW receives its fair share by allowing locals to get a foot in the housing market.”
Source,
Media release, Jun 2
Donna Golightly, office of Adam Crouch MP