NAB statement on NSW stamp duty proposals

Share

Share

Quotes attributable to Andy Kerr, NAB Executive, Home Ownership:

“We welcome the NSW Government’s announcement today that it will be looking to revise its policy on stamp duty and consulting with the community on the changes.

“For many customers stamp duty is a big hurdle to buying a home. Any attempt to free up land purchasing and update the current system in the interests of prospective home owners is a good thing. This is most critical for first home buyers, who are often slowed down by the cost of stamp duty.

“We also support the idea of the opt out model, which gives homebuyers the ability to choose the option that’s right for them.

“We expect the proposed changes would help to stimulate economic activity once implemented.

“We welcome the public consultation and will engage with the process.”

Background:

  • On average, NAB lends more than $4 billion every month for customers to buy, renovate or refinance their home.
  • Since launch NAB has helped more than 3,000 customers into their first home with the support of the Federal Government’s First Home Loan Deposit Scheme.

Property

SEE ALL TOPICS

Related Articles

  • Property

Home buyer window wide open this winter season

Twelve months ago, many buyers were holding back due to higher rates. Fast-forward to today: two rate cuts behind us, and NAB expecting another two this year, many home buyers, especially first-home buyers, see this as a window of opportunity before the market heats up further.

  • 29.07.2025
  • Time to read 2 min read
  • Announcements

AUSTRAC finalises Enforceable Undertaking with NAB

AUSTRAC has today announced that it has finalised the Enforceable Undertaking (EU) with National Australia Bank Limited (NAB), agreed in April 2022.  This marks the cancellation of the EU, which aimed to address NAB’s compliance with certain aspects of Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.   

  • 25.07.2025
  • Time to read 1 min read
  • First home buyers

NAB boosts first-home buyers’ dreams with new HELP debt assessment

From 31 July, if someone owes $20,000 or less in student debt, it won’t affect how much they can borrow for their new home with NAB.

  • 24.07.2025
  • Time to read 1 min read

Quick links

Property Insights

Buying or selling? Get ahead with property value estimates, insights and property reports.