Stamp duty scrapped
The top end of the Sydney housing market by price quartile is currently dropping as borrowing capacity takes a significant hit.
But in the price points up to $1.5 million the market is likely to be bottoming out, as the historic stamp duty reform was passed through Parliament today.
Details are here (or click on the image below):
Eligible first homebuyers can access the scheme from this weekend.
NAB has followed a couple of the other majors in adjusted rental 'shading', which will increase borrowing capacity for some borrowers from this Saturday forth.
Next cab off the rank will likely to be a tweak to lending policy for self-employed borrowers, down to a 1-year requirement.
With asking rents in Sydney rising by 28 per cent year-on-year, this will likely signal the bottom for the Sydney market up to the $1.5 million price point.
