Parliamentary Secretary for the Hunter Scot MacDoanld has announced a comprehensive package which will include the reduction of stamp duty for first home buyers.
This reform will give aspiring first home buyers a fair go when searching for their own home as more housing choices will also be made available.
These reforms announced with NSW Premier Gladys Berejiklian can save aspiring first home buyers around thirty-four thousand three hundred and sixty dollars.
Scot MacDonald says the abolishment of certain policies will benefit first home buyers.
"For the first time, we will be abolishing stamp duty for first home buyers and for all new and existing homes up to the value of six hundred and fifty thousand dollars and there are further discounts up to eight hundred dollars.
"Ontop of that we will also be abolishing the insurance duty on lenders, mortgage insurance. This is aimed fairly and squarely right at people trying to get into the housing market for the first time"
He also says this package will make the Hunter more attractive to first-time buyers.
"Six hundred and fifty thousand dollars doesn't buy you a lot in Sydney but of course in the Hunter Valley, you can get even into a new house at those sorts of levels. I just think it's incredibly important, I think it'll make the Hunter Valley more attractive for people.
"Stamp duty was always a big hurdle and now as I say you have savings of over twenty thousand. It think that makes it a lot-lot more affordable"
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| Scot MacDonald |
