We are pleased to see the government trying got help first home buyers. The main impact is that a first home buyers deposit is reduced because they’re required to fund a minimum amount of the value of the property plus costs including stamp duty.
The article highlights that about $24,740 of stamp duty costs currently apply for a first home buyer buying an established home. Which almost doubles the amount of savings that is required for a first home buyer on a $500,000 property.
Our home affordability is focused on ways to increase the deposit that a first home buyer can use in its property purchases. This initiative makes our products more attractive.