Stamp duty on a $2,000,000 property in NSW is $91,287 at the 2026-27 rates: $52,237 plus 5.5% of everything above $1,290,000. There is no first home buyer concession at this price and no premium duty, which starts at $3,870,000. The duty is due in cash, usually at settlement, on top of the deposit.

Duty from $1.8 million to $3 million
Price Duty Duty as a share of price
$1,800,000 $80,287 4.5%
$1,900,000 $85,787 4.5%
$2,000,000 $91,287 4.6%
$2,200,000 $102,287 4.6%
$2,500,000 $118,787 4.8%
$3,000,000 $146,287 4.9%

Who buys at $2 million, and how do they fund the duty?

Mostly owners upgrading, who fund the duty and deposit from the sale of their current home. The timing is the hard part: when the new home settles before the old one sells, the duty is still due. A bridging loan or a deposit bond for the exchange deposit covers the gap. See deposit bonds.

Cash to buy at $2,000,000 before conveyancing
Route Deposit Duty Cash total
20% deposit $400,000 $91,287 $491,652
10%, LMI added to the loan $200,000 $91,287 $291,652
10%, profession with LMI waived $200,000 $91,287 $291,652

On a 10% deposit, mortgage insurance on the $1,800,000 loan would be about $44,000 to $67,000, and some insurers cap the loan size they will cover, so large high-ratio loans need careful lender choice.

What loan and income go with a $2 million home?

With 20% down the loan is $1,600,000: about $9,593 a month at 6% over 30 years. On our assumptions that needs about $337,000 as a couple with no other debts. At that income the loan is around five times income, below the six-times level at which APRA limits how much banks can lend.

Is duty different for an investor at $2 million?

Not for an Australian resident: the same $91,287 applies. Investors then pay land tax each year on the land value above the threshold. The NSW land tax calculator estimates it.

How does the duty change around $2 million?

In this band duty runs at 5.5 cents in the dollar, so every $10,000 on the price is another $550.

Stamp duty at prices near $2 million, 2026-27 rates
Price Most buyers Eligible first home buyer
$1,900,000 $85,787 $85,787
$1,950,000 $88,537 $88,537
$2,000,000 (this price) $91,287 $91,287
$2,050,000 $94,037 $94,037
$2,100,000 $96,787 $96,787

What else is due at settlement on a $2 million purchase?

The duty comes with smaller costs that are easy to forget.

  • Transfer registration: $183 (NSW Land Registry Services, 2026-27).
  • Mortgage registration: $183.
  • Mortgage insurance with 10% down: about $44,000 to $67,000 on a $1,800,000 loan.
  • 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 $2 million purchase is about $492,000 before conveyancing and inspections.

Can you pay less duty on a $2 million home?

  • First home buyer relief ends at $1 million, so at $2 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 $2 million purchase?

  • 5% down: a $1,900,000 loan at $11,391 a month (6%, 30 years).
  • 10% down: a $1,800,000 loan at $10,792 a month (6%, 30 years).
  • 20% down: a $1,600,000 loan at $9,593 a month (6%, 30 years).

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 $91,287 in your account while the building goes up, if you qualify. The first home buyer thresholds are the same as for an established home.

Stamp duty at the next price points: $1.5 million. The stamp duty calculator works out any other price.

Questions people ask

What is stamp duty on $2 million in NSW?

$91,287 at the 2026-27 general rates.

What is stamp duty on $2.5 million in NSW?

About $118,787, and on $3 million about $146,287.

When does premium duty apply?

On residential property above $3,870,000 in 2026-27: $194,137 plus 7% of the excess.

Can stamp duty be paid from the loan?

Only where there is enough equity, for example in the home you are selling or another property. Otherwise it comes from savings or sale proceeds.

Charles Touma plans the sale, purchase, duty and any bridging finance as one sequence so settlement day is funded. A free 30-minute call covers your upgrade. 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; Moneysmart, lenders mortgage insurance; APRA, debt-to-income limit, 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.