50% off stamp duty!
Big news for new home buyers in Bendigo with huge stamp duty tax reductions announced in Victoria this week.
The full 50 percent discount will apply to contracts entered into for newly built homes valued up to $1 million from today until the end of June 2021 as part of the Victorian State government’s “Big Housing Build”.
“The aim is to get as many people in that price bracket [$1 million] and below back into the market.” Victorian Treasurer Tim Pallas said.
A 50 percent land tax discount for build-to-rent (BTR) developments was also announced as part of the budget.
In his speech to Parliament, Mr. Pallas estimated this would add an extra 5000 homes for renters.
“Investment in the BTR sector will provide greater choice and diversity of housing options for renters and support Victoria’s economic recovery,” the budget papers said.
At Lansell Homes we currently have a number of new home (spec) builds underway. Whether you are an investor or home occupier, there has never been a better time to buy! Contact Joanne Grae to learn more on 0448 829 957.