Stamp Duty Savings On New Homes

The Victorian Government has announced big savings for homebuyers with a reduction in stamp duty in its recent State Budget. This applies to both newly built homes and existing homes until June 2021 under the value of $1 million. This means anyone signing a contract on a new home before the middle of next year will  be eligible for a 50 per cent reduction in stamp duty on the property. Those purchasing existing homes will still reap the benefits albeit at a smaller rate of 25 per cent.

The savings in stamp duty mean homebuyers can enter the market sooner and also take full advantage of other government incentives such as the $10,000 First Home Owner Grant or the First Home Loan Deposit Scheme to maximise their opportunities in the market, if eligible.

Monument Estate in Plumpton has a range of house and land packages to suit all budgets. Stop by the sales office at 1392 Plumpton Road, Plumpton for more information. We’re open 7 days a week from 11am to 5pm, or call us on 1300 040 563.