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Over 237 first home buyers across Gosford and the 2250 postcode have been helped into their first home, as new data has been released showing the impact of the NSW Government’s First Home Buyers Assistance Scheme.
Member for Gosford, Liesl Tesch MP has celebrated these exciting figures, “these 237 first home buyers are Coasties who build lives here, open businesses, have families and create a future in our community.
“Under this program, first home buyers are able to save up to $30,735, enabling people to get into a property market that they may otherwise not have been able to afford.
“Housing affordability is a significant issue for our community and the NSW Government is committed to making it more affordable for first home buyers to get into the market, while addressing housing supply with once in a generation planning reforms.”
The First Home Buyers Assistance Scheme was expanded on 1 July 2023, increasing the threshold for a stamp duty exemption from $650,000 to $800,000 and lifting the stamp duty concession threshold from $800,000 to $1 million.
161 first home buyers across the 2250 postcode received a full exemption from stamp duty on eligible homes and land, saving a combined $3,626,855.
A further 76 first home buyers received a concession on their stamp duty when purchasing a home for between $800,000 and $1 million, saving a combined total of $1,464,192. These buyers would have received no support under the former government.
Ms Tesch highlights the value of the NSW Government’s First Home Buyers Assistance Scheme to our community, “unlike the former government’s forever land tax, this scheme is a fairer assistance program, which has already saved first home buyers on the Central Coast over $5M as they look to buy their dream home.
“The Central Coast is such a beautiful place to live and it is so exciting that 237 first home buyers are now able to enjoy our wonderful Coast with the stability and certainty of home ownership.”
This expanded assistance scheme is supporting first home buyers to buy a home sooner after years of it getting harder for people to buy their first home.
This is just another way the NSW Government is making it easier for first home buyers and comes on top of the government’s once in a generation planning reforms that are driving an increase in the number of homes being built in NSW.
