The New South Wales government has announced foreign property investors will be subjected to higher fees and taxes under proposed changes to raise funds for first homebuyers.
From July 1st, first home buyers will be void from paying stamp duty on new and existing properties of up to $650,000.
New South Wales Premier, Gladys Berejiklian says they will also receive concessions for properties worth up to $800,000.
But NSW Deputy Opposition leader Michael Daley says the package is a missed opportunity, and should include mandatory affordable housing targets.
