Will stamp duty cuts pave the way to new buyers to buy houses?

There will be new rules for first-home buyers across some parts of the country in hopes of lifting the number able to enter the housing market.In 2009, first-home buyers comprised about 30 per cent of the owner-occupier market.Over the past year, that has dropped to an average of 13-and-a-half per cent.

NSW stamp duty reforms. Source: www.reesjones.com.au

A one-bedroom apartment in the Sydney suburb of Parramatta was listed for $525,000 last week.

And real-estate agent Lynda Webster says there is interest.

Ms Webster says half a dozen contracts have gone out.

From Saturday (july 1) in New South Wales, first-home buyers will be exempt from stamp duty for new and existing properties up to $650,000 and partially exempt up to $800,000.

BIS Oxford Economics managing director Rob Mellor says that will make a difference in the state.

In Victoria, stamp duty will be abolished for purchases under $600,000 and on a sliding scale up to $750,000.

But a data scientist at the property group Domain, Nicola Powell, says more needs to be done.

From Saturday, the First Home Super Saver Scheme will allow savers to put extra money into superannuation, then draw it out in a year to help with a deposit

Domain's Nicola Powell reminds buyers that their first home is not always their forever home.