Growing home-buying activity has led to the NSW government posting stronger stamp duty and land tax revenue than expected.
rates are climbing. Home ownership rates are falling. Demand for socialfears permanent eviction from safe and secure housing.”Residential property prices have risen 8.8 per cent since the start of 2023, helped by low listings, strong population growth due to higher migration and a low rental vacancy rate.
It also includes $1.5 billion to upgrade roads and amenities, and $400 million for a new housing infrastructure fund focused on delivering infrastructure that will increase housing supply. The $400 million comes from money left over from about 700 projects in the Restart NSW infrastructure program.you don’t build the streets, no one will build the homes,” Mr Mookhey said.
The first home buyers’ scheme expansion would mean five out of six first home buyers will not have to pay stamp duty, with 1000 first home buyers using the scheme to be fully exempt from paying stamp duty in July. The expanded scheme will cost about $250 million more than the now-scrapped reforms by the former Perrottet government to allow first home buyers to opt for property taxes instead of stamp duty.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NSW promises more nurses to field growing number of sexual assault casesThe state government will pledge almost $53m over four years to fund dozens of new positions
Read more »
Rising auction supply will slow house price growthThe outlook is mixed, with higher borrowing costs also casting a cloud over the housing market even as prices keep rising.
Read more »
Sydney marathon: 26 hospitalised after running in spring heatSeven people remained in a serious condition after being treated by NSW Ambulance crews.
Read more »
Energy rebates will go up next year in NSW. Here is what it means for youConcession card holders in New South Wales are set to get a little more help with their power bills after this year&x27;s price hike pain.
Read more »
Sydney marathon: 26 hospitalised after running in spring heatSeven people remained in a serious condition after being treated by NSW Ambulance crews.
Read more »
Hardcore porn, choking and rape: universities left to tackle rising tide of sexual assaultsAs on-campus ‘sexual misconduct’ cases escalate, there are increasing calls to talk openly with young people about sex, pleasure and consent
Read more »