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.
Mosaic Townhouses are brand new 2, 3 & 4 bedroom homes from $529,900 currently under construction in Lalor, in Melbourne’s north. Call our Sales Team on 1300 819 057 to learn how the stamp duty savings would apply.