First home buyers are offered incentives to purchase property by getting stamp duty relief. The State Government of Victoria offers these incentives to give first home buyers and the building industry a boost. It is in the interests of the State that there be a vibrant and healthy building industry.
If a contract for the purchase of residential property ( a house )is after 1 July 2017 and the property value is under $600,000 then the property will be exempt from stamp duty provided certain conditions are met.
If the property value is between $600,000 and $700,000 then you get a concession.
You must qualify for the FHOG (The first Home Owners Grant) to get this concession.
so this is great news for a first home owner who wishes to build a brand new house to live in.
The basic FHOG requirements , among other things, are that you have not previously held an interest in a place of residence that you lived in elsewhere in Australia and that you have not previously received the FHOG.
YS New builds 