Mollythedolly
Norm Smith Medallist
- Oct 21, 2021
- 6,589
- 7,813
- AFL Club
- Collingwood
First home buyers are already fully or partially exempt from stamp duty. It's not much of a barrier at all.
To me this change is relatively superficial - pretty close to simply a deferral. 5.5% up front duty compared to 1%p.a. of the unimproved value x 10.
First home buyers aren’t the only people trying to get into the market. Just about to start that process myself.
Superficial to those that have the 5.5% to pay up front I guess. That’s $55k+ for $1m+ properties.