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Whilst this won’t necessarily be helpful for first home buyers close to the city, it will be for NSW as Stamp Duty Exemptions have been announced for first home buyers who are purchasing existing properties worth up to $650,000 will be exempt from stamp duty from July 1st.

At present, the exemption is only available for those buying new homes.

There’ll also be stamp duty discounts for first home buyers purchasing properties worth up to $800,000, while stamp duty charged on mortgage lenders insurance will also be scrapped.

Stamp duty concessions for investors purchasing off the plan are also being removed.

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