Earlier this month, premier Daniel Andrews announced a scheme to have stamp duty cut for first home buyers in Victoria.
Starting July 1, 2017, if the government plan is approved, anyone buying a house for the first time will not pay stamp duty, providing the value of the house is up to $600,000 and has been lived in for at least 12 months.
With all the obstacles first home owners are faced with to purchase a house, the scheme is aimed to help those who are trying to break into the property market.
“In the past, if you worked hard and saved enough, you could afford to buy your own home. Now, that’s getting harder and harder,” Mr Andrews said.
This exemption is said to help 25,000 homebuyers, each year and each could save up to $8000. Mr Andrews has said that this cut will help even out the playing field for first home buyers.
“They’re battling rising prices, they’re competing against investors and they’re up against federal government policies that advantage existing owners.”
Quarterly Market Overview: Buyer Demand, Auction Momentum & Interest Rate Tailwinds The April–June 2025 quarter delivered strong signs of renewed momentum across the Sunshine Coast property market, with buyer engagement, auction success, and favourable lending conditions all contributing to a more competitive landscape. Across the Ray White Coastal Living Network, … Read more
Important Update: New Seller Disclosure Requirements from 1 August 2025 From 1 August 2025, a new statutory Seller Disclosure Regime will take effect across Queensland as part of the implementation of the Property Law Act 2023. This legislative reform is designed to enhance transparency, reduce contract disputes, and ensure that … Read more