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

Stamp Duty Calculator

Advertisement

Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Rates
Features
Fees
Other
Lender
VariableMore details
Online ExclusiveUp To $4K Cashback Includes NOV RBA Rate Increase
  • Immediate cashback upon settlement
  • $2000 for loans up to $700,000
  • $4000 for loans over $700,000
Online ExclusiveUp To $4K Cashback Includes NOV RBA Rate Increase

loans.com.au – Variable Basic Cashback Home Loan (Principal and Interest) (LVR < 70%)

  • Immediate cashback upon settlement
  • $2000 for loans up to $700,000
  • $4000 for loans over $700,000
More details
VariableMore details
Refinance OnlyApply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
Refinance OnlyApply In Minutes

Unloan – Variable Rate Home Loan – Refinance Only

  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
More details
VariableMore details
  • Up is 100% owned by Bendigo Bank.
  • Up to 50 offset accounts
  • New joiners get $10 by signing up to the app using code UPHOMESAVINGS. (T&Cs apply)

Up – Up Home Variable (Principal & Interest) (LVR ≤ 90)

  • Up is 100% owned by Bendigo Bank.
  • Up to 50 offset accounts
  • New joiners get $10 by signing up to the app using code UPHOMESAVINGS. (T&Cs apply)
More details
  • Immediate cashback upon settlement
  • $2000 for loans up to $700,000
  • $4000 for loans over $700,000

More details
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of December 11, 2023. View disclaimer.



Image by Jeremy Bezanger via Unsplash



Ready, Set, Buy!


Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

With bonus Q&A sheet and Crossword!

By subscribing you agree to our privacy policy