Everything Sydney property buyers need to know about stamp duty valuations
When purchasing property in Sydney, one of the most significant costs you'll encounter is stamp duty (also known as transfer duty). This government tax can add tens of thousands of dollars to your property purchase, making it essential to understand how it's calculated and how a professional valuation can help you save money.
In NSW, stamp duty is calculated based on the property's purchase price or market value—whichever is higher. This is where a professional property valuation becomes crucial. An accurate valuation ensures you're paying the correct amount of duty, potentially saving you significant money.
NSW Revenue NSW uses a tiered system to calculate stamp duty. The rate depends on the property value, with higher-valued properties attracting higher rates. Here's a breakdown of the current thresholds:
| Property Value | Stamp Duty Rate |
|---|---|
| $0 - $14,000 | $1.25 per $100 (min $10) |
| $14,001 - $31,000 | $175 + $1.50 per $100 over $14,000 |
| $31,001 - $83,000 | $430 + $1.75 per $100 over $31,000 |
| $83,001 - $310,000 | $1,340 + $3.50 per $100 over $83,000 |
| $310,001 - $1,030,000 | $9,285 + $4.50 per $100 over $310,000 |
| Over $1,030,000 | $41,685 + $5.50 per $100 over $1,030,000 |
Important: If the purchase price is less than the market value, NSW Revenue can assess stamp duty based on the market value—which could mean paying more duty. However, if the purchase price is higher than market value, a professional valuation can help ensure you're not overpaying duty.
Several exemptions and concessions can reduce or eliminate your stamp duty in NSW:
First home buyers purchasing new properties under $800,000 may be eligible for full stamp duty exemption. Existing properties may receive a concession.
Transfers between family members (spouses, parents, children) may qualify for reduced duty or exemptions under certain conditions.
While there's no general exemption, the principal place of residence status can affect calculations in certain circumstances.
Commercial property purchases have different thresholds and rates—often significantly higher than residential.
An accurate valuation ensures you're not overpaying stamp duty based on inflated property values.
Our valuations meet NSW Revenue standards and are accepted for all stamp duty calculations.
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