This week the NSW Government announced this week that the stamp duty threshold on new homes for first home buyers has increased from $650,000 to $800,000.
The threshold also increases on vacant land from $350,000 to $400,000
This threshold will be in place for 12 months only from 1 August through to 31 July 2021.
These exemptions will apply for first home buyers purchasing vacant land or a new home. Above these thresholds, concessional stamp duty rates apply to new homes up to $1,000,000 and vacant land up to $500,000.
The team at Bribie Island Lending keep up to date with all changes to Home Loan schemes and can help you find the best lender for you.
We are based on the beautiful Queensland coast, between the Sunshine Coast & Brisbane and we offer a complimentary home loan broking service.
Make an appointment today for an obligation-free chat, to talk about what you need and how we can help.
We recently helped clients refinance a home loan with a sky-high interest rate (over 10%) and clear their ATO debt and personal loans all while keeping repayments steady. With equity and the right paperwork, we reduced their rate to under 7% and gave them a clean slate. If tax debt is weighing you down, let’s talk strategy.
After a challenging property search full of delays, setbacks, and a long probate process, a Moreton Bay area couple finally settled on their dream home. Thanks to early planning, lender coordination, and strategic negotiation, they secured the property and moved in months before settlement.
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From 1 October 2025, all first home buyers will be able to purchase with just a 5% deposit under the expanded First Home Buyer Guarantee. There will be no income limits, no caps on places, and higher property price caps.
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