Invest & Finance
How to take advantage of the new Stamp Duty savings
The struggle faced by first home buyers in Australia’s most expensive city was under the spotlight again last week. Premier Gladys Berejiklian announced a string of reforms aimed at helping first home buyers get a foot in the door, with more than $1 billion of stamp duty concessions and measures to level the playing field with investors. You can read more about the reforms here.
First home buyers of existing and new properties costing up to $650,000 will be exempt from paying stamp duty from July 1, this lifts the value of eligible properties from the existing $550,000 and also reintroduces existing homes to the scheme.
In theory this is a significant help, many have pointed out the challenge in finding a property in Sydney for under that $650k mark. Sydney’s skyrocketing property prices has been a hot topic of late, but there still is value to be had under the $650k mark around Sydney if you know where to look. And luckily, we do.
In Sydney, we currently have house and land packages in Austral, 42 kms south west of the CBD, for under $650k.
The Macarthur region south west of Sydney represents also great value under $650k. Neighbouring picturesque Camden and boasting its own winery, Cobbity is an area to watch. We currently have house and land packages with a 4 bedroom home in Cobbity for under $600k.
Similar opportunities in neighbouring Spring Farm also start below the$650k stamp duty exemption price. And that’s for a 4 bedroom home with 2 bathrooms and a double garage.
You can browse all of Thrive Homes current house and land package opportunities here. And if you’d like to speak to us about taking advantage of the new stamp duty exemptions from July 1 we’d love to hear from you. You can get in touch here.