Our Backyard

Stunning weather returned to the Surf Coast this week with sunny, clear, dry days almost all week. There are also clearer skies ahead for many home buyers. The 2011-12 Victorian Budget saw promised cuts to stamp duty delivered to first home buyers, eligible pensioners and farmers.

First home buyers with homes settling after July 1 this year will be eligible for a 20% cut to stamp duty. This

2014.

Relief for seniors also comes from July 1, whereby the current threshold for duty relief will increase from $440,000 to $750,000. Under the new laws, eligible seniors will receive a total exemption from stamp duty for homes purchased to a value of $330,000 and a partial exemption between $330,000 and $750,000.

Young farmers will also benefit by paying no stamp duty when buying a property worth less than $300,000.

For this weekends surf, click here.

Have a great weekend and we’ll see you in Our Backyard.

Real Estate Aireys Inlet

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