New data reveals that 3,370 first home buyers have found their dream hone on the Central Coast thanks to help by the Minns Labor Government, saving an average of $22,008 off the cost of their first home.
The popular initiative provides a full stamp duty exemption of $30,412 for first home buyers purchasing a property up to $800,000 and a concession for homes priced between $800,000 and $1 million.
It replaces the previous Liberal-National Government's forever tax on first-home buyers, which left first-home buyers paying an annual tax back to the Government.
Gosford was the top suburb to benefit across the region, with 969 first buyers helped into homes, sharing in $20.6 million worth of savings, putting the Coast's capital as 6th in the state for new homeowners helped.
Wyong was close behind with 814 first buyers sharing in $17.5 million in savings, followed by The Entrance with 482 first buyers saving a combined $10.5 million.
Across NSW, 82,174 first home buyers have benefited from the First Home Buyers Assistance since July 2023. Of those, 58,111 people paid no stamp duty at all, while 24,063 individuals paid a reduced amount.
The scheme also works with the Albanese Labor Government's 5% Deposit and Shared Equity schemes, making it even easier for people and families to buy their first home.
Housing is the number one cost-of-living pressure on young people, families and downsizers.
Helping first home buyers is a critical piece of the Minns Labor Government's plan to address these cost-of-living pressures and make sure NSW can be an accessible and affordable place to live.
That's why the Minns Labor Government is delivering more homes to rent and buy, re-building essential services that families rely on, and providing long overdue investment in critical infrastructure across the Hunter, Newcastle and Lake Macquarie.
The First Home Buyers Assistance Dashboard has more statistics by suburb and Local Government Area and can be accessed at https://www.revenue.nsw.gov.au/help-centre/resources-library/statistics/fhba-dashboard
Minister for the Central Coast and Member for Wyong David Harris said:
"It is wonderful to see so many people making the most of this Minns Labor Government program, with 3,370 families, couples and singles able to have a place to call home sooner in our growing region.
"Our region is such a great place to live, work and play and this scheme is turning the home-owning dream into reality for so many Coasties saving up for a deposit by wiping an average of more than $22,000 off the money they need."
Minister for the Hunter and Member for Swansea Yasmin Catley said:
"The Central Coast is an amazing place to live, work and raise a family, and these figures show real confidence in our community's future.
"When we came to government, we made a clear commitment to help people access the basics, including a place to call home, and we're getting on with delivering exactly that.
"I'm proud to see more than 645 first-home buyers calling Swansea home, giving more locals the chance to put down roots in a community that offers opportunity, connection and a great lifestyle."
Minister for Finance Courtney Houssos said:
"This is a critical piece of the puzzle in the Government's plan to help families enter the housing market.
"Saving up to $30,000 on stamp duty means more money in the pockets of families and more opportunities for them to achieve the dream of home ownership."
Member for The Entrance David Mehan said:
"The Minns Labor Government is helping people save tens of thousands of dollars on stamp duty which can be the difference between continuing to rent and finally owning a home.
"It's fantastic to see so many first home buyers across the Central Coast getting real, practical cost of living relief that helps them take that first step into the housing market and build their future."
Member for Gosford Liesl Tesch said:
"Already, 969 first-home buyers across Gosford have benefited from this important scheme, saving more than $20.6 million in total and turning the dream of home ownership into a reality.
"This scheme is just one of the ways that the Minns Labor Government is committed to addressing the cost of living across our community, ensuring that Coasties can realise the dream of home ownership and build a bright future right here on the Central Coast."
