First home buyers in Victoria pay no stamp duty on purchases under $600,000 in 2026. Eligibility is strictly tied to residency requirements and the property’s intended use.
Exemption and concession thresholds
Purchases under $600,000 receive a full exemption, saving buyers up to $31,000. A sliding concession applies to properties priced between $600,000 and $750,000, such as a $650,000 purchase which costs approximately $12,000 in duty rather than $34,000.
Eligibility conditions
The property must be a primary residence, not an investment, with the buyer moving in within 12 months of settlement and living there for at least 12 continuous months. These conditions must be confirmed with a conveyancer before purchase to avoid unexpected costs.
Local market alignment
Most homes in Officer and Pakenham fall within or just above the full exemption threshold. This makes the South East corridor one of the most accessible areas for buyers looking to eliminate upfront stamp duty costs.
The honest reality
In a rising rate environment, two recent rate rises have already tightened borrowing capacity. For many, these stamp duty savings are no longer just a bonus, but the deciding factor in whether they can afford to enter the market at all.
Questions to consider
- Does the property in Officer or Pakenham fall under $600,000 to secure the maximum $31,000 saving?
- Have you updated your pre-approval to reflect recent rate rises rather than relying on a six-month-old figure?
- Does your purchase strategy align with the mandatory 12-month continuous residency requirement?
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.