New data reveals that 3,078 first home buyers in the Illawarra have been given a helping hand by the Minns Labor Government, saving an average of $22,502 off the cost of their first home.<\/p>\n\n\n\n
The program provides a full stamp duty exemption of $30,412 for first home buyers purchasing a property up to $800,000 and a concession for homes priced between $800,000 and $1 million. <\/p>\n\n\n\n
It replaces the previous Liberal-National Government\u2019s forever tax on first-home buyers, which left first-home buyers paying an annual tax back to the Government.<\/p>\n\n\n\n
In the Illawarra, the top suburbs to benefit are Wollongong (618 first homes), Albion Park (519), Dapto (517) and Warilla (231).<\/p>\n\n\n\n
It includes 2,103 first home buyers in the Wollongong LGA, 947 in Shellharbour LGA, and 28 in Kiama LGA.<\/p>\n\n\n\n
Across NSW, 82,174 first home buyers have benefited from the First Homebuyers Assistance since July 2023. Of those, 58,111 people paid no stamp duty at all, while 24,063 individuals paid a reduced amount.<\/p>\n\n\n\n
The scheme also works with the Albanese Labor Government\u2019s 5% Deposit and Shared Equity schemes, making it even easier for people and families to buy their first home.<\/p>\n\n\n\n
Housing is the number one cost-of-living pressure on young people, families and downsizers. <\/p>\n\n\n\n
Helping first home buyers is a critical piece of the Minns Labor Government\u2019s plan to address these cost-of-living pressures and make sure NSW can be an accessible and affordable place to live.<\/p>\n\n\n\n
That\u2019s why the Minns Labor Government is delivering more homes to rent and buy, re-building essential services that families rely on, and providing long overdue investment in critical infrastructure across the Illawarra.<\/p>\n\n\n\n
The First Home Buyers Assistance Dashboard has more 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<\/a><\/p>\n\n\n\n More information about First Home Buyers Assistance is available at https:\/\/www.revenue.nsw.gov.au\/grants-schemes\/assistance-scheme<\/a><\/p>\n\n\n\n Minister for the Illawarra Ryan Park:<\/strong><\/p>\n\n\n\n \u201cThe Illawarra is a growing region, and I’m proud more people are choosing to call it home.<\/p>\n\n\n\n “This stamp duty relief is making the dream of homeownership a reality for thousands of young people and families across the Illawarra.\u201d<\/p>\n\n\n\n Treasurer Daniel Mookhey:<\/strong><\/p>\n\n\n\n \u201cFor more than 80,000 people, this has meant paying less upfront and getting into a home sooner.<\/p>\n\n\n\n \u201cWe\u2019re backing first home buyers because everyone deserves a fair shot at owning a home in NSW.<\/p>\n\n\n\n \u201cAs our landmark planning reforms deliver more homes, we will continue making it easier for first-time buyers to make them their own.”<\/p>\n\n\n\n Minister for Finance Courtney Houssos:<\/strong><\/p>\n\n\n\n \u201cThis is a critical piece of the puzzle in the Government\u2019s plan to help families plant their roots across the state.<\/p>\n\n\n\n \u201cSaving up to $30,000 on stamp duty means more money in the pockets of families and more opportunities for them to achieve the dream of home ownership.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" New data reveals that 3,078 first home buyers in the Illawarra have been given a helping hand by the Minns Labor Government, saving an average of $22,502 off the cost of their first home. The program provides a full stamp duty exemption of $30,412 for first home buyers purchasing a property up to $800,000 and … Continue reading “More than 3,000 first home buyers get their start in the Illawarra”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-37122","post","type-post","status-publish","format-standard","hentry","category-nswnews"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/37122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=37122"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/37122\/revisions"}],"predecessor-version":[{"id":37123,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/37122\/revisions\/37123"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=37122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=37122"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=37122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}