We took a look at the true costs, including the biggest hurdle-a deposit, as well as the impost of stamp duty for first home buyers trying to buy a home for owner occupation.
The first chart highlights the 25th percentile prices for houses and units across each of the capital cities. The 25th percentile price has been chosen because it reflects prices at the more affordable end of the housing market and is often more representative of the prices at which first home buyers are looking at to enter the market.
Based on these 25th percentile prices, the cost of stamp duty and transfer fees for houses and units across each of these cities is detailed below. Keep in mind certain states have stamp duty exemptions which exist below specific price thresholds. We have assumed that the first home buyer is purchasing at the 25th percentile price for owner occupation.
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