Yes, and this is one of the better opportunities in the Melbourne market right now. [cite: 92] The combination of the $600k stamp duty exemption and the way house and land packages are structured makes this a genuinely compelling entry point for first home buyers. [cite: 93]
How the Stamp Duty Exemption Works in 2026
In Victoria, first home buyers who purchase a property with a dutiable value of $600,000 or less pay zero stamp duty. [cite: 96] This remains in place as of April 2026. [cite: 97] For properties between $600,001 and $750,000, a sliding scale concession applies. [cite: 98] Above $750,000, full stamp duty rates kick in. [cite: 98]
Why House and Land Packages Have an Extra Advantage
With a house and land package, stamp duty is calculated on the land value only, not the combined land and build price. [cite: 100] So if your land is valued at $280,000 and your build contract is $320,000, your dutiable value for stamp duty purposes is $280,000 — not $600,000. [cite: 101] This is one reason why house and land packages are a popular choice for first home buyers in Melbourne’s growth corridors. [cite: 102]
The First Home Owner Grant
Eligible buyers building a new home in Victoria can also access the $10,000 First Home Owner Grant. [cite: 104] This applies to new homes, which house and land packages qualify for. [cite: 105] Check your eligibility with the State Revenue Office Victoria or speak to a mortgage broker. [cite: 106]
Talk to KR Peters. We deal with first home buyers every week and we understand how these incentives interact with each other. [cite: 108] If you’re serious about using this window to get into the market, come and see us. [cite: 109] We’ll point you in the right direction. [cite: 110]
References: 1. State Revenue Office Victoria. [cite: 112] 2. AusTax Tools. [cite: 113] 3. Xircon Homes. [cite: 114]