More help on the way for NSW first home buyers?

YESTERDAY Gladys Berejklian became the new Premier of NSW. The question is, will Ms Berejklian do anything for struggling first home buyers across NSW?

Home-ownership a priority for new premier
During the Premier’s press conference on Monday she declared that housing affordability is on top of her government’s agenda. Berejklian made no policy announcements, but said she is open to considering various different options while acknowledging that housing affordability needs addressing.

What will the new Premier likely consider? (score out of 5)

  • First Home Owners Grant increase – 1/5
  • Increase to the stamp duty concession threshold for new homes – 4/5
  • New stamp duty concession on established homes – 4.5/5
  • A review of the land tax system – 2.5/5
  • New measures to increase housing supply – 4.5/5

Can the new Premier be trusted to deliver additional help?

FHBA co-founder Taj Singh advises that first home buyers be wary of trusting the new premier. “Prior to becoming the NSW Premier yesterday Berejklian had the opportunity to review stamp duty concessions for first home buyers, as Mike Baird’s Treasurer. She made no such move”. Taj added “First home buyers are best to continue to make purchasing decisions based on their own circumstances and goals, not based on speculation of what the Government may or may not do to things like the First Home Owners Grant and Stamp Duty”.

Taj said that FHBA will continue to lobby for more assistance for first home buyers.

To see what the current NSW Government first home buyer incentives are please check out our free guide.

First Home Buyers Australia
First Home Buyers Australia

Australia’s leading organisation specialising in assisting first home buyers achieve the great Australian dream of property ownership.