Thousands of first home buyers in NSW have benefited from the First Home Buyers Assistance Scheme, which was introduced in July. 

According to Revenue NSW, 10,496 individuals and families have bought their first home, representing a 239 per cent increase compared to the 3,094 figure in the same period last year. 

This is the highest figure recorded in the five years of people using government relief. 
The First Home Buyers Assistance Scheme reduces the amount of stamp duty, and relieves them from the high cost pressure. 

More significantly, stamp duty is eliminated for properties for up to $650,000, while concessions are available for properties between $650,000 and $800,000.  

“We are thrilled that people are taking advantage of the exemptions which are slashing the cost of purchasing their first home,” Premier Gladys Berejiklian said. 

“We know that saving up for your first home can be difficult, and so removing or reducing the amount of stamp duty is helping lower the hurdle for first home buyers,” she added. 
The exemptions grant number is now averaging 2,624 a month. This has significantly increased from the figure of 825 in the month of June 2017, when the relief package was first introduced. 

First home buyers can access stamp duty relief for new and existing homes. 

Further, housing approvals and construction in NSW have reached record highs.