STAMP DUTY ABOLISHED FOR FIRST HOME BUYERS UNDER $600,000 IN SUNBURY
Stamp duty will be abolished for first home buyers for purchases below $600,000, helping first home buyers in Sunbury find their first home, as the Andrews Labor Government tackles housing affordability head on.
Those buying a home in Sunbury valued between $600,000 and $750,000 will also be eligible for a concession, applied on a sliding scale.
The exemption and concession will apply to both new and established homes, in a move that could help hundreds of people in Sunbury find their first home.
In a further move to help first home buyers in Sunbury, the Government will also remove off-the-plan stamp duty concessions on investment properties.
It means the off-the-plan stamp duty concession will now be available solely for those who intend to live in the property or who are eligible for the first home buyer stamp duty concession.
This is all part of the Labor Government’s plan to help more Victorians break into the housing market.
Quotes attributable to Member for Sunbury
“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.”
“These changes will help first home buyers in Sunbury make the Great Australian Dream a reality.”
“We are making it easier for first home buyers in Sunbury to get their foot in the door.”
Please see further details at www.vic.gov.au/affordablehousing.
Click the link below for the Strategy document:
Homes for Victorians