Last Thursday, The Victorian State Government released their 2021 / 2022 budget, which included important updates for First Home Buyers.

First Home Buyer Grant

Victorian Treasurer Tim Pallas announced that First Home Buyers in Metropolitan Melbourne will still be able to apply for the $10,000 First Home Buyers Grant. The regional grant will be reduced from $20,000 to $10,000 from 1 July this year.

You can gain further information on the First Home Owner’s Grant from the State Revenue Office here.

Stamp Duty Concessions

Stamp duty concessions will continue for first home buyers. Purchasers buying homes under $600,000 wont need to pay stamp duty and those purchasing homes up to $750,000 can benefit from a partial stamp duty concession.

For further information on the stamp duty waiver, visit the State Revenue Office’s Land transfer duty waiver web page.

Red23 are your First Home Specialists

Red23 are leaders in the new homes market across Melbourne and Greater Geelong.

We assist First Home Buyers in sourcing and securing the right house design and land lot in communities that our buyers want to call home.

Our experienced team of property professionals understand the financial and lifestyle objectives of First Home Buyers and present a range of housing options for an informed decision.

For a no obligation conversation to discuss your first home requirements, contact Red23 on 03 9540 0477 or leave your details here. One of our new home specialists will be in contact with you.