Join our investing community

Half stamps on new property

Discussion in 'Real Estate' started by Jacque, 17th Jun, 2009.

  1. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Just in from the budget news...

    The Rees government will provide a $64 million boost to people buying new homes, cutting their stamp duty by half - as the only surprise giveaway in a budget with a 2009-10 deficit of $990 million.

    Read more here

    This certainly looks interesting, as it's including other buyers besides the FHB's in this scheme. Obviously designed to continue to breathe life in the new build section of the market, paying half the normal SD will be a bonus for investors who are looking to purchase before the end of this year.
     
  2. Chris C

    Chris C Well-Known Member

    Joined:
    2nd Apr, 2008
    Posts:
    1,327
    Location:
    Brisbane, QLD
    It's always good news when government is willing to take a pay cut.
     
  3. FinSpec

    FinSpec Member

    Joined:
    15th Jun, 2009
    Posts:
    16
    Location:
    Sydney
    Nothing like adding more buyers to the market!

    Housing affordability - out the window you go :cool: