First Home Buyers Assistance Scheme

From 1 July 2023, a full exemption from transfer duty was introduced by the NSW Government on properties valued up to $800,000, meaning most first-home buyers will not need to pay transfer (or stamp) duty when they buy an apartment. Outline:

  • The threshold for transfer duty exemptions was raised from $650,000 to $800,000
  • Exemptions apply for property valued from $800,000 to $1million
  • First-home buyers save $31,090 in transfer duty when buying an apartment valued at $800,000

Transfer duty exemptions

Applicant Eligibility

  • must be an individual, not a trust
  • must move into the property within 12 months of exchanging contracts
  • live in the property for at least 12 months from purchase
  • must be aged over 18 years
  • never owned property in Australia
  • at least one of the first home buyers must be an Australian citizen or permanent resident

ALAND Product

Our sales team will be delighted to help you with any questions you may have about this government program. Please contact us on 1800 025 263 or fill out your details below.

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