New data reveals more than 8,200 first home buyers have been given a “helping hand” in the Hunter, Newcastle and Lake Macquarie.
And, thanks to an NSW Government scheme, they’ve saved an average of $21,513 off the cost of their maiden dwelling.
The First Home Buyers Assistance program provided a full stamp duty exemption of $30,412 for those purchasing a property up to $800,000 and a concession for houses priced between $800,000 and $1 million.
Across the region, the top suburbs/towns to benefit are Wallsend (641), Maitland (586), Cardiff (570) and Cessnock (520).
It includes 2,302 first home buyers in the Lake Macquarie LGA, 1,983 in Newcastle LGA, 1,575 in Maitland LGA, 1,275 in Cessnock LGA and 613 in Port Stephens LGA.
“The Hunter is quickly earning its reputation as one of the state’s most desirable places to live, work and build a future,” Acting Minister for the Hunter Paul Scully said.
“This announcement is a clear reflection of that momentum.
“When we came into government, we made a clear commitment to help people access the basics, including accommodation.
“We’re proud to be delivering affordable housing across the Hunter, giving more people the chance to put down roots in a region full of opportunity and strong communities moving forward.”
Across NSW, 82,174 people have benefited from the First Home Buyers Assistance since July 2023.
Of those, 58,111 paid no stamp duty at all, while 24,063 individuals shelled out a reduced amount.
The scheme also works with the Albanese government’s 5% Deposit and Shared Equity initiatives, making it even easier for people and families to buy their first home.
“For more than 80,000 people, this has meant paying less upfront and getting into a house sooner,” NSW Treasurer Daniel Mookhey said.
“We’re backing first home buyers because everyone deserves a fair shot in NSW.
“As our landmark planning reforms deliver more dwellings, we will continue making it easier for first-time buyers to make them their own.”
The First Home Buyers Assistance Dashboard has additional statistics by suburb and Local Government Area and can be accessed at https://www.revenue.nsw.gov.au/help-centre/resources-library/statistics/fhba-dashboard.
Further information about the First Home Buyers Assistance is available at https://www.revenue.nsw.gov.au/grants-schemes/assistance-scheme
For more property stories:
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- Council slams property developer’s claims it’s delayed $50m housing project
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