The Victorian Government has proposed changes to current stamp duty charges, to take effect from 1 July 2017, with the aim of easing housing affordability for first home buyers.
As a result of these proposed changes, investors will no longer be eligible for stamp duty concessions previously available on off the plan property purchases.
There will be new benefits for first home buyers with stamp duty to be abolished for those purchasing properties valued below $600,000.
The changes will have a flow-on effect on the property and construction industries and investors are encouraged to consider their options before the end of the financial year to make the most of the dutiable value of off the plan apartments.
The Hopkins Group has considered the Government’s proposal and hypothesised what effect the changes to the stamp duty charges will have on the property market as a whole – from a first home buyer angle, to a property investor, and even a construction and wider economy perspective.
Watch Executive Chairman John Hopkins and Managing Director Michael Williams work through the issues and give some insight into their experience of how the markets have ridden the wave of similar initiatives over the years.
Download our fact sheets to find out more about how the stamp duty concession changes will affect certain buyers and what you can do to prepare for looming deadlines.
To discuss how the stamp duty changes will affect you and your individual circumstances, call The Hopkins Group on 1300 726 082 to book an appointment with an adviser and start talking about your first home ownership or investment goals.
John Hopkins Mortgages operates under Australian Credit Licence 389093
Want to make the most of stamp duty concessions while they last?
Please fill in the form with your contact details to find out more or call 1300 726 082 to speak with an adviser
Get the latest news and insights from The Hopkins Group, as it happens.