Stamp duty on a $1,500,000 property in NSW is $63,787 at the 2026-27 rates, for every Australian buyer. $1.5 million is also the 5% Deposit Scheme price cap in Sydney and the NSW regional centres, so it is the most expensive home an eligible first home buyer can buy with 5% down and no mortgage insurance.

Duty around $1.5 million
Price Duty 5% Deposit Scheme
$1,400,000 $58,287 Within the cap
$1,450,000 $61,037 Within the cap
$1,500,000 $63,787 Within the cap
$1,550,000 $66,537 Above the cap
$1,600,000 $69,287 Above the cap
$1,700,000 $74,787 Above the cap

How is the $63,787 worked out?

The price is above $1,290,000, so duty is $52,237 plus $5.50 for every $100 over that: $52,237 plus 5.5% of $210,000. Premium duty, at 7%, only starts at $3,870,000 for residential property.

What changes one dollar above $1.5 million?

The duty barely moves, but the deposit does. Above the cap the scheme is not available, so a buyer without 20% needs mortgage insurance: on a 10% deposit at $1,550,000 that is about $34,000 to $52,000 on the loan, on top of $66,537 of duty. Negotiating a home back to $1.5 million can be worth far more than the price difference.

Cash to buy at $1,500,000 before conveyancing
Route Deposit Duty Cash total
5% Deposit Scheme (within the cap) $75,000 $63,787 $139,152
10%, LMI added to the loan $150,000 $63,787 $214,152
20% deposit $300,000 $63,787 $364,152

Who else avoids LMI at this price?

Some professions. Several lenders waive mortgage insurance up to 90% for doctors, lawyers, accountants and other listed professionals, which helps above the scheme cap. See LMI waivers. A parent’s guarantee does the same job for any buyer. See guarantor home loans.

How does the duty change around $1.5 million?

The marginal rate here is 5.5 cents per dollar: $550 more duty for each extra $10,000.

How the duty moves around $1.5 million, 2026-27 rates
Price Most buyers Eligible first home buyer
$1,400,000 $58,287 $58,287
$1,450,000 $61,037 $61,037
$1,500,000 (this price) $63,787 $63,787
$1,550,000 $66,537 $66,537
$1,600,000 $69,287 $69,287

What else is due at settlement on a $1.5 million purchase?

Duty is the largest item, but not the only one.

  • Transfer registration: $183 (NSW Land Registry Services, 2026-27).
  • Mortgage registration: $183.
  • Mortgage insurance with 10% down: about $33,000 to $50,000 on a $1,350,000 loan, or $0 under the 5% Deposit Scheme if you qualify.
  • Conveyancing and searches: your conveyancer’s quote; see conveyancing costs in NSW.
  • Council and water rates: adjusted between buyer and seller at settlement, usually a few hundred dollars either way.

With 20% down and no mortgage insurance, the cash for a $1.5 million purchase is about $364,000 before conveyancing and inspections.

Does buying off the plan change the duty?

Not the amount: duty is worked out on the contract price at the same rates. What can change is the timing. Revenue NSW says off-the-plan buyers may be able to defer the duty for up to 12 months. That keeps $63,787 in your account while the building goes up, if you qualify. The first home buyer thresholds are the same as for an established home.

Can you pay less duty on a $1.5 million home?

  • First home buyer relief ends at $1 million, so at $1.5 million every buyer pays the full rate.
  • Each $10,000 you negotiate off the price saves $550 of duty.
  • Adding a spouse or partner to the title later can be exempt; see NSW stamp duty exemptions.
  • Investors pay the same duty as owner-occupiers, and foreign buyers pay surcharge purchaser duty on top.

What are the repayments on a $1.5 million purchase?

  • 5% down: a $1,425,000 loan at $8,544 a month (6%, 30 years).
  • 10% down: a $1,350,000 loan at $8,094 a month (6%, 30 years).
  • 20% down: a $1,200,000 loan at $7,195 a month (6%, 30 years).

Stamp duty at the next price points: $1.2 million and $2 million. The stamp duty calculator works out any other price.

Questions people ask

What is stamp duty on $1.5 million in NSW?

$63,787 at the 2026-27 rates. There is no first home buyer concession above $1 million.

What is stamp duty on $1.4 million in NSW?

About $58,287, and on $1.6 million about $69,287.

Is $1.5 million the scheme cap everywhere in NSW?

No. It applies in Sydney and the regional centres (Central Coast, Illawarra, Newcastle and Lake Macquarie, Coffs Harbour and Grafton, the Mid North Coast and Richmond-Tweed). The rest of NSW has an $800,000 cap. The 5% Deposit Scheme checker confirms a postcode.

What income does a $1.5 million home need?

With 5% down the loan is $1,425,000: about $320,000 single or $301,000 as a couple on our assumptions. See income needed for a $1.5m home loan.

Charles Touma checks the scheme cap for the postcode, the duty and which lenders will take the loan before you commit. A free 30-minute call covers a $1.5 million purchase. General information only, not credit advice. Lender policies change, and your own circumstances decide what suits you.

Sources: Revenue NSW, transfer duty rates 2026-27; Housing Australia, 5% Deposit Scheme price caps; Housing Australia, 5% Deposit Scheme, checked 27 October 2026.

General information only, not credit, legal or tax advice. Your situation is assessed properly before any recommendation. Government scheme details change; figures are current at the time of writing.