For first home buyers in 2026, the Victorian stamp duty exemption means paying no stamp duty on purchases under $600,000, providing a saving of up to $31,000. Eligibility is strictly tied to the purchase price and specific residency requirements.
How the exemption works
Purchases under $600,000 receive a full exemption, while properties between $600,000 and $750,000 qualify for a sliding concession. For example, a buyer purchasing at $650,000 would pay approximately $12,000 instead of $34,000.
Local availability in the South East
Officer and Pakenham offer genuine detached 3 to 4 bedroom homes that fall within or just above the full exemption threshold. This lower price base makes these suburbs some of the most accessible options in the Melbourne metropolitan area.
Necessary conditions
The property must be a first home, not an investment, and the buyer must move in within 12 months of settlement. Additionally, the owner must live in the property for at least 12 continuous months to remain eligible.
The honest reality
In a rising rate environment, every dollar of upfront cost matters. The stamp duty saving can be the difference between getting into the market and not.
Questions to consider
- Does the property in Officer or Pakenham fall under the $600,000 threshold to ensure a full exemption?
- Can I commit to living in the property for 12 continuous months to satisfy the residency conditions?
- Should I combine the stamp duty saving with other schemes, such as the First Home Guarantee or Help to Buy, to reduce my deposit requirements?
Talk to KR Peters for a straight-talking appraisal with no obligation.
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Market information is general in nature and reflects conditions
at the time of publication. For advice specific to your property,
contact KR Peters.