Time to move! Save 50% Stamp Duty on New Homes in NSW.
If you have been thinking about buying a newly built home or building one, then get in quick.
From 1 July until 31 December 2009 stamp duty is reduced by 50 percent on new dwelling purchases up to $600,000.
The stamp duty reduction will be available for newly-constructed houses and units, house and land packages, along with the current stock of new homes and units which have never been occupied or previously sold. It is also available for off-the-plan purchases.
The $64 million handout comes as a way to stimulate potential home buyers who feel trapped in old established homes and want to move to a newly-constructed home.
The new measure does not affect first home buyers who do not pay stamp duty on homes priced up to $500,000 or vacant land up to $300,000. First home buyers will continue to receive up to $24,000 in NSW and Federal government grants for a $600,000 home purchase.
Those who aren’t new to the housing market but are looking to buy new could stand to save up to $11,245 in stamp duty when purchasing newly built property.
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