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Real Estate First Home Buyers Scheme to Improve in NSW

New South Wales Treasurer Mike Baird on Tuesday announced a new State Budget for 2012, which represents an increase of new state listings and vigorously promotes the development of real estate in the construction industry, is the core of the Budget.

In the new state legislature, he said, the focus of the Budget is a set of innovative measures aimed at revitalizing the housing and construction industry, of which the most eye-catching is the first time to buy a new home for which the First Home Buyer’s has been significantly improved.

The Budget has just been published, from October 1 this year; the New South Wales First Home Buyers Scheme has risen from $7,000 and has more than doubled.
The condition is though that the first-time home buyer’s purchase does not exceed $650,000.

The allowance is to be reduced to $ 10,000 from January 1, 2014.
However, first-time home buyers interested in the purchase of second-hand housing suffered a blow.
In order to encourage people to buy a new home, the government will cancel the $ 7,000 first-time homebuyers to purchase second-hand housing allowance with effect from October 1 this year.

The New South Wales State Government on Tuesday is to confirm that the stamp duty waiver policy will continue to apply to more new homes.
This will enable the new homes buyers enjoy 25-50% stamp duty exemptions and concessions.

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