April 18th, 2022Helping Victorians buy their first home

Victorian first-home buyers are being supported with millions of dollars in grants and concessions each week to help them realise their dreams.In the first three months of the year, 10,000 stamp duty exemptions and concessions totalling $185 million have been approved across the state, and First Home Owner Grants of $10,000 paid to 3,500 homebuyers.
The total of more than $220 million follows a record benefit of $1.1 billion shared by Victorian first-home buyers last year – comprising more than 51,000 stamp duty concessions and exemptions and 21,000 First Home Owner Grants.
First home buyers are exempt from paying stamp duty if they buy a property for $600,000 or less, with the concession reducing for properties valued up to $750,000.
Victorians buying or building a new home valued up to $750,000 are eligible for the $10,000 First Home Owner Grant.
More Victorians are accessing the benefits to help them buy their home – the benefits approved in 2021 were up almost 20 per cent compared with the previous year.