on air now

‘Softening’ in housing market an ‘opportunity’ for first home buyers

Article image for ‘Softening’ in housing market an ‘opportunity’ for first home buyers

As the housing boom rolled through New South Wales, the government made a hefty amount off stamp duty.

But now, as the market slows down, will it curtail the plans for growth in New South Wales?

State Treasurer Dominic Perrottet tells Ross Greenwood “we’ve got a very diverse revenue base”.

“Stamp duty is around nine per cent of our total revenue.

“We are in a very strong position, but look, we certainly see a softening in the market.”

Mr Perrottet says the slow down is an “opportunity” for first home buyers to “come into the market across New South Wales”.

When the Liberal Member for Hawkesbury came into government, he says there was a $30-billion infrastructure backlog.

“We want to make sure that we grow that infrastructure investment… we want to be in front of that.”

Click PLAY below to hear the interview