In a bid to help first home buyers struggling to get their feet onto the home buying ladder the Victorian government has announced big changes to stamp duty from 1st July 2017.
Stamp duty will be abolished for first home purchases up to $600,000 with concessions available between $600,000 and $750,000.
Currently a first home buyer purchasing a home for $600,000 would need to pay more than $15,000 in stamp duty as well as the various other costs associated with purchasing a property. This move is expected to help more than 25,000 first home buyers a year to get their start in the property market.
With interest rates at historical lows talk to me today to see how these changes might help you.