Buying a home in New South Wales

NSW at a glance

Each line links to the page it comes from. A dagger (†) marks a fact that was taken from an official search result and has not yet been confirmed on the agency's page from this build environment; open the link before relying on it.

Stamp duty

What it's called

Transfer duty, collected by Revenue NSW Source

Official calculator

Transfer of Land or Business Calculator (Revenue NSW) Source

How the rate works

Sliding scale on dutiable value. For 2026-27: $11,602 plus $4.50 for every $100 over $387,000, up to $1,290,000; $52,237 plus $5.50 for every $100 over $1,290,000; premium property duty on residential land above $3,870,000. Source

When the bands change

Thresholds and base amounts are indexed to the Sydney CPI and take effect each 1 July; the 2026-27 scale runs from 1 July 2026 to 30 June 2027. Source

First home, established

Eligible first home buyers pay no duty to $800,000; concession from $800,000 to under $1,000,000 (First Home Buyers Assistance Scheme, contracts from 1 July 2023) Source

First home, new or off the plan

Same as established: no duty to $800,000, concession to under $1,000,000; new and existing homes share the thresholds Source

First home, vacant land

Vacant land to build a home on: no duty to $350,000; concession from $350,000 to under $450,000 Source

Other concessions

No general home, pensioner or off-the-plan concession was confirmed from this environment; open the Revenue NSW transfer duty pages Source

Premium property duty

$194,137 plus $7 for every $100 over $3,870,000 on residential land, 1 July 2026 to 30 June 2027; the threshold is indexed to CPI each year Source

Foreign purchaser surcharge

Surcharge purchaser duty applies to foreign persons acquiring residential property; Revenue NSW publishes a calculator for it. The rate was not visible from this environment. Source

Cooling-off and contracts

Cooling-off period

5 business days after exchange, ending 5pm on the fifth business day; 10 business days for an off-the-plan contract Source

Cost of using it

0.25% of the purchase price goes to the vendor ($250 for every $100,000) Source

When it does not apply

None at auction, and none on a contract exchanged on the same day as the auction after the property is passed in (Conveyancing Act 1919, s 66T) Source

Waiving or shortening it

Waived by giving the vendor a section 66W certificate, signed by the buyer's lawyer or conveyancer, at or before exchange Source

What the seller must disclose

The contract must attach the title search, plan and dealings, planning certificate, sewer diagram and any pool certificate (Sch 1, Conveyancing (Sale of Land) Regulation 2022); a buyer may rescind within 14 days of exchange if one is missing Source

Deposit

10% of the price unless a lesser sum such as 5% is agreed; commonly 0.25% at exchange with the balance before the cooling-off period ends Source

Settlement

Generally around 6 weeks after exchange: the NSW Planning Portal describes settlement as usually 42 days (6 weeks) after exchange, and the standard contract defaults to 42 days after the contract date where no time is stated. The period is negotiated through the conveyancer or solicitor. Source

Grants and schemes

First Home Owner Grant

$10,000 First Home Owner (New Homes) Grant for eligible buyers: a new or substantially renovated home to $600,000, or a home and land package to $750,000 Source

Grant: prior ownership test

Ineligible if you or your spouse owned a home or other residential property in Australia before 1 July 2000, or lived for six continuous months or more in a home you owned (wholly or partly) on or after 1 July 2000. A property bought after 1 July 2000 that was never lived in for more than six continuous months does not disqualify you. Source

State schemes open

Two programs: the First Home Buyers Assistance Scheme (duty exemption or concession) and the First Home Owner (New Homes) Grant. NSW lists no other open state scheme; its Home Buyer Assistance Finder covers those two. Source

Closed or ended

Shared Equity Home Buyer Helper pilot closed 30 June 2024; First Home Buyer Choice (the annual property tax option) is listed by Revenue NSW as a previous scheme Source

5% Deposit Scheme

Unlimited places, no income cap and higher price caps from 1 October 2025. The current NSW price cap was not confirmed from this environment; open the Housing Australia price-caps page. Source

Help to Buy

Shared equity: a government contribution of up to 30% (existing home) or 40% (new home); applications opened 5 December 2025. NSW price cap, income caps and enabling-legislation status not confirmed. Source

Auctions and price guides

Price guides

No price below the agent's estimated selling price in the agency agreement; a range may not exceed 10% top to bottom; 'offers over' and '+' are not permitted Source

Underquoting

An offence under the Property and Stock Agents Act 2002, enforced by NSW Fair Trading; the maximum penalty was $22,000 before the 29 June 2026 increases (new maximum not visible from this environment) Source

Reforms in train

Property and Stock Agents Amendment (Underquoting and Other Agent Conduct) Act 2026: penalty increases commenced 29 June 2026; comparable-sales and record-keeping rules start on a date to be announced, expected towards the end of 2026 Source

Statement of Information

The second tranche of the 2026 underquoting reforms, which brings in the NSW Statement of Information, is expected to commence towards the end of 2026 once the supporting regulations and forms are prepared; no date has been proclaimed. Maximum court-imposed penalty for non-compliance $27,500. Source

Vendor bids

One vendor bid only at a residential or rural auction, and the auctioneer must announce it as a vendor bid Source

Bidder registration

Register with the selling agent before or during the auction, with ID showing name and address; bidders are entered in the Bidders Record and bid with an allocated number Source

Cooling-off at auction

None at auction, and none on a contract exchanged on the auction day after the property is passed in Source

Statement of Information

The Act requires agents selling residential property to prepare a Statement of Information, in a form published by NSW Fair Trading, showing comparable sales; commencement date not yet announced Source

Dummy bidding

Illegal; fines of up to $55,000 each for the dummy bidder, the seller who asked, and any agent or auctioneer involved Source

The buying process

Licence check

Verify NSW: search a property agent or conveyancer and see licence status, conditions, compliance and disciplinary history Source

Who can do the conveyancing

A solicitor, or a conveyancer licensed by NSW Fair Trading under the Conveyancers Licensing Act 2003; both must hold professional indemnity insurance Source

Electronic settlement

100% eConveyancing since 11 October 2021: every dealing lodged with NSW Land Registry Services goes through PEXA or Sympli, and paper certificates of title have been cancelled Source

Complaints

NSW Fair Trading, 13 32 20: a free complaint service for property professionals, most resolved within 30 days. Solicitors: NSW Legal Services Commissioner, 02 9377 1800. Source