Stamp duty savings for city home buyers

Take advantage of great stamp duty savings when you buy eligible properties in the city between now and 30 June 2022, and enjoy extraordinary everyday living.

Whether you’re a first home-buyer, an upsizer or an empty-nester there’s no place like Melbourne to call home.

The vibrancy, atmosphere and sense of community in the city are proving to be huge drawcards for property buyers.

Research commissioned by the City of Melbourne found more than half  (56 per cent) of first home buyers surveyed are likely to consider buying in Melbourne, with many citing the allure of the city and a desire to be close to the action.

While 48 per cent of those already living in Melbourne said they were also considering buying property in the area.

Nearly half (43 per cent) of those looking to buy in the city were in the market for an apartment or unit, with features such as natural light, views and communal areas.

Lord Mayor Sally Capp said Melbourne continues be one of the world’s most liveable cities, despite the challenges it has faced during the pandemic.

‘These results show that Melbourne has maintained its allure,’ the Lord Mayor said.

‘This city has so much to offer, from its beautiful gardens and eateries, to the incredible festivals and sporting matches that will return when we come out of lockdown.  Nothing compares to Melbourne, and future home buyers know that.’

With some 6000 apartments in Melbourne for sale and rent, there’s never been a better time to live in Melbourne.

Until 30 June 2022, a 50 per cent stamp duty concession is available for new residential properties valued at up to $1 million within the City of Melbourne.

A full 100 per cent stamp duty exemption is also available for new residential properties that have been on the market for more than 12 months.

Plus, if you’re a first home buyer purchasing an off-the-plan property, until 30 June 2023, you qualify for a duty concession if the home is valued at up to $1 million.

The discounts could amount to tens-of-thousands of dollars in savings.

‘Now buyers have an even better shot at purchasing a home here, and we welcome them with open arms,’ the Lord Mayor said.

To find out how you can make the city your local, visit realestate.com.au/thisisyourlocal

To read stories from people living in Melbourne, visit:

To find out what else we are doing to support people and businesses as the city emerges from lockdown, visit Reignite Melbourne.