Back in “bid-ness” | First home buyers return to the market amid stamp duty concessions

Back in “bid-ness” | First home buyers return to the market amid stamp duty concessions

First-home buyers have made the most of the Government’s new stamp duty concessions as part of their housing affordability package, returning to the auction market in force over the weekend.

The measures, which kicked in on July 1, mean that first-home buyers are free of stamp duty for purchases up to $600,000 while discounts apply in the $600,000 to $750,000 range.

Among the beneficiaries was a first-home buyer in Victoria who snapped up a three-bedroom unit in South Morang for $386,000. Millership & Company’s South Morang real estate director Wayne Millership explained that the buyer’s purchase was assisted by the stamp duty cuts.

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