Investing in a better future for New South Wales

Friday 05 Mar 2010

The housing and construction sector is a key part of the $380 billion NSW economy.

That's why the NSW Government has extended the Housing Construction Acceleration Plan for six months which was due to end on 31 December 2009.

Purchasers of newly constructed dwellings worth up to $600 000 will received a 50% discount on stamp duty if they purchase before 30 June 2010.

This means stamp duty savings of up to $11 245 per dwelling.

Since 1 July 2009 more than 2500 home buyers have taken advantage of the stamp duty concession, purchasing new properties worth more than $1 billion.

This has resulted in $19 million in stamp duty savings - but more importantly, a massive injection into the state economy, supporting jobs like builders, plumbers, architects and more.

The NSW Government continues to offer a range of other assistance measures to first home buyers. The response to our $3000 supplement for the purchase of newly constructed homes was so strong we have also extended it until 30 June 2010.

This is in addition to the stamp duty exemption for all first home buyers purchasing a home worth up to $500 000, and the concession on stamp duty for properties worth between $500 000 and $600 000.

For further information about the range of benefits that may be available, please contact the NSW Office of State Revenue on 1300 139 814 or visit www.homebuyer.nsw.gov.au