The NSW government will waive stamp duty for electric vehicles costing less than $78,000 and offer $3,000 rebates to 25,000 people who buy a battery and hydrogen fuel cell electric vehicle priced under $68,750 as part of a $490 million state budget package to increase electric vehicle sales.

While electric vehicles currently make up just 9% of all new car sales in Australia, the NSW government has set an ambitious target hoping to convert half of all new cars sales to electric or hydrogen by 2026, before going 100% electric by 2030.

If you are thinking about purchasing a property in the near future, consideration must be given to the ability to be able to charge your electric vehicle while parking overnight.

This may become an expensive exercise for older style apartment complexes that do not have the ability to run a GPO (Power Point) to your car parking space.

If you are buying off the plan, ask your agent if the developer will install a GPO in your car park, it may save you money in the future.