Super September

October 22, 2009

Premier Nathan Rees today NSW first home buyers continue to set records – with the top five suburbs for first home buyer grants all in western Sydney.

Mr Rees said that NSW first home buyers have set another impressive first, with more than $150 million in first home buyer benefits handed out in September this year.

“September 2009 was the best performing month of September since the first home buyer grants benefits began in 2000,” Mr Rees said.

“These benefits helped more than 6,000 NSW first home buyers achieve their dream in September this year alone.

“We’re getting more young families into their first homes than ever before and helping them get on with establishing their lives.

“The Government’s first home buyer grants are proving a major economic stimulus.”

Figures from the NSW Office of State Revenue show:

• 6,079 first home buyer grants worth $92.98 million were paid out in September 2009, compared to 3,740 grants worth $26.18 million paid out in September 2008;
• Stamp duty concessions worth $57.71 million were granted in September, compared to $33.76 million worth of concessions in September 2008
• The top five suburbs for grants were all in western Sydney, with first home buyers in Liverpool again topping the list and receiving benefits worth $3.32 million
• Since the introduction of first home buyer grants in July 2000, more than 428,000 first home buyers have received grants and stamp duty exemptions worth in excess of $6.4 billion.

Treasurer Eric Roozendaal said the housing sector is a vital part of the NSW economy.

Mr Roozendaal said the NSW Government’s 50 per cent stamp duty cut for new dwellings under $600,000 continued to stimulate the state’s housing sector.

Dwellings worth almost $392 million have been sold under the NSW Housing Construction Acceleration Plan, since the NSW Government cut stamp duty by 50 per cent from July 1 on newly-constructed dwellings up to $600,000.

Mr Roozendaal said 895 families, including investors, have taken advantage of the 50 per cent stamp duty cut, putting $6.8 million worth of stamp duty back into their pockets (as at October 18).

“Owning a home is an investment in a better future and is part of the great Australian dream,” Mr Roozendaal said.

Currently, benefits of up to $34,990 are available for first home buyers for a newly-constructed home; and up to $28,490 for an existing home.

Further details on first home owner grants and the 50 per cent stamp duty cut are available at: www.homebuyer.nsw.gov.au