Foley considering stamp duty incentive

State Labor leader Luke Foley says he's considering allowing prospective home buyers to pay stamp duty in instalments should he be elected premier of NSW.

Luke Foley says he is considering allowing prospective home buyers to pay stamp duty in instalments. (AAP)

Stamp duty could be paid in instalments over a number of years in a scheme being considered by NSW Opposition Leader Luke Foley.

The Labor leader was asked during a televised debate between himself and Premier Mike Baird what incentives he'd introduce to make it easier for people to enter the property market.

"When it comes to stamp duty I want to look at a scheme where people, rather than being charged 100 per cent of their stamp duty up front, could pay it back in instalments over several years," Mr Foley said during Seven Network and The Daily Telegraph Leaders' debate on Sunday.

Mr Baird said the coalition government had "done what we can" in introducing stamp duty incentives for first home buyers while also increasing housing supply across the state.

"We are looking for other opportunities to reduce and make stamp duty competitive but you have to have the budget under control," he said.

"And what we know under Labor, for their last two years, taking away the stimulus, it was close to a billion dollars each year in deficit and that's not sustainable."