First home buyers in NSW will be exempted from stamp duty for 12 months. Here’s how it will affect the market. – Business Insider Australia

• New South Wales will exempt eligible homebuyers from paying stamp duty on purchases under $800,000 from 1 August.
• Discounted stamp duty meanwhile will be available on properties up to $1 million.
• The changes could see surging demand and properties begin to cluster around the $800,000 cutoff price, among other consequences.
• Visit Business Insider Australia’s homepage for more stories.

Australia’s biggest property market is stripping back stamp duty in …

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