The Berejiklian government will make the biggest overhaul to stamp duty in 30 years delivering a tax break to future home buyers that will grow over time.

Under the changes the seven price bands, or brackets, which determine how much stamp duty is paid by home purchasers will start to rise with inflation from the middle of next year.

NSW Treasurer, Dominic Perrottet says his stamp duty changes will improve fairness and efficiency Credit:AAP

The brackets have remained largely unchanged since 1986 despite the increase in property prices since then.

The government says the changes will cut the average amount of stamp duty per property transaction by around $500 by 2021 but the savings will rise over time.