MAKING LIFE FAIRER FOR TWEED FIRST HOME BUYERS

Member for Tweed Geoff Provest has welcomed a comprehensive package of measures which will give first homebuyers in Tweed a fair go at owning their own home by significantly reducing stamp duty and providing more housing choice.

Mr Provest said the reforms could save first homebuyers up to $34,360 and would now apply to both existing and new homes. Stamp duty on lenders mortgage insurance, often required by banks, will also be abolished.

“While there are no easy solutions when it comes to housing affordability, residents who are saving to own their own home in Tweed will benefit greatly from these reforms,” Mr Provest said. “Stamp duty is a hurdle for first home buyers across Tweed, so to give residents a fair go we will abolish stamp duty for all first home buyers on properties costing up to $650,000 and provide stamp duty discounts on properties up to $800,000. This means many first homebuyers will not be paying stamp duty at all in Tweed

These changes to stamp duty and support for new infrastructure will make regional Australia an even more attractive place for people to live, work and play.

“These are just some of the measures we are introducing to give local first homebuyers a fair go.”

More information on the NSW Government’s housing affordability package can be found at: www.nsw.gov.au/housingaffordability