Under increasing pressure to improve housing affordability and availability, in 2017 the NSW Government released a package of measures designed to support first home buyers.
These new measures offer savings to first home buyers up to $34,360 and are seen as a significant benefit. However, foreign investors who invest in NSW housing will be required to pay more in state taxes.
Some of the broader policies to improve access to affordable housing include:
- Increasing grants and concessions available to first home buyers;
- Increasing the supply of reasonably priced housing; and
- Speeding up the delivery of necessary infrastructure to support growth and new communities.