First home buyers in NSW can avoid paying stamp duty if their property costs less than $650,000.
New research conducted by realestate.com.au into first home buyers in NSW has revealed the most affordable suburbs in the NSW market they are considering.
According to REA group, first-home buyers will have an easier path to home ownership in 2022 due to the softening housing market.
Realestate.com.au director of economic research Cameron Kusher said it was no surprise first home buyers were looking to avoid stamp duty.
"Within Sydney, outer more affordable suburbs are prevalent on the list which is no surprise given first-home buyers tend to be on a lower budget than upgraders, and within these areas grants and stamp duty discounts and exemptions may be applicable on purchases," Mr Kusher said.
"There should be a greater preparedness from vendors to list their properties which will mean more stock to choose from and a better balance between supply and demand in 2022. This should also contribute to the easing price growth this year."
Polling from realestate.com.au asked first-home buyers about the most affordable suburbs they were considering to enter the property market in NSW.
Top 10 suburbs where first home buyers can afford paying stamp duty:
| Suburb | Median House Price | |
| 1 | Emerton | $575,000 |
| 2 | Lethbridge Park | $597,000 |
| 3 | Lethbridge Park | $600,000 |
| 4 | Tregear | $600,000 |
| 5 | Blackett | $605,000 |
| 6 | Willmot | $612,500 |
| 7 | Whalan | $620,000 |
| 8 | San Remo | $627,500 |
| 9 | Budgewol | $630,000 |
| 10 | Airds | $630,000 |
Source: REA
Also read:How much is stamp duty in your state
How much does stamp duty cost?
Stamp duty can be a huge expense when buying a home, easily setting home buyers back thousands if not tens of thousands of dollars.
As an example, stamp duty for an established home in NSW valued just over the threshold of $650,000 would cost $24,630.
Also read: Sydney Suburbs tipped for growth in 2022
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