Coast First Homebuyers Get $22K Stamp Duty Break

More than 2,000 first homebuyers have found their dream home on the Central Coast thanks to the State Government stamp duty assistance program.

The 2,145 new homeowners have saved a combined $47.6M in stamp duty since July 2023.

The popular initiative has seen first homebuyers across the Coast save an average of $22,185, significantly easing the pressure for people saving for a deposit.

The First Home Buyers Assistance Scheme provides a full exemption from stamp duty for eligible buyers purchasing up to $800,000, and a concession for purchases between $800,000 and $1M.

In Gosford, 628 buyers have saved a combined $13.5M, while 522 new homeowners in Wyong saved $11.3M.

In The Entrance, 307 buyers shared in $6.9M in savings, 65 buyers at Avoca Beach benefited by $1.3M, in Budgewoi 202 buyers saved $5M and in Toukley there were 181 buyers saving $4.4M.

At Umina Beach 107 buyers saved $2.3M, Woy Woy buyers saved $1.8M across 80 buyers, in Ourimbah there were 28 buyers saving $600,000 and 13 Terrigal homebuyers saved $300,000 between them.

Statewide, total savings for more than 50,000 first homebuyers topped $1B.

The 50,000 milestone coincides with the release of a helpful dashboard detailing the program’s impact suburb-by-suburb.

The First Home Buyers Assistance Dashboard also provides program statistics across the Central Coast – as it does for every Local Government Area and regional classification in the state.

It will be updated regularly and can be viewed by searching: First home buyers assistance dashboard | Revenue NSW

First homebuyers can learn more about the program and calculate their potential stamp duty savings online at: First Home Buyers Assistance Scheme – how to apply | NSW Government

Minister for the Central Coast and Member for Wyong David Harris said the State Government’s program was fantastic news for the more than 2,000 families, couples and singles able to get into their first home sooner.

“The more than $22,000 in average savings per homeowner is making a big difference for people saving up for a deposit,” he said.

“Home is where the heart is, and there’s nothing better for Coasties to have a place to call their own in a region they love.”