First home buyers flood NSW marketplace

First home buyers continue to flock to Western Sydney, with the region dominating the top five suburbs in another record month for first home buyers in NSW.


Premier Nathan Rees reported that more than $139 million in first home buyer benefits had been handed out in August this year.


"These benefits helped 5,844 NSW first home buyers achieve their dream in August this year alone," Mr Rees said. "August 2009 was the best-performing August since the benefits started in 2000."


Figures from the NSW Office of State Revenue show:

* 5,844 first home buyer grants worth $88.7 million were paid out in August 2009, compared to 3,418 grants worth $23.9 million paid out in August 2008
* Stamp duty concessions worth $50.3 million were granted in August, compared to $30.3 million worth of concessions in August 2008
* The top five suburbs for grants were all in western Sydney, with first home buyers in Liverpool again topping the list and receiving benefits worth $3.2 million

Currently, benefits of up to $41,990 are available for first home buyers for a newly-constructed home; and up to $31,990 for an existing home.


Top ten first home buyer suburbs by number in August:

1. Liverpool (136)

2. Blacktown (87)

3. Wentworthville (86)

4. Parramatta, Bankstown (66)

6. Kellyville (61)

7. Cabramatta (58)

8. Fairfield (56)

9. Gosford, Hornsby, Campbelltown (55)

Posted Friday 11th of September 2009, 5:34 PM