Welcome to Aireys Inlet

The State Government recently announced a range of new initiatives for first homebuyers in Victoria.

These changes come into effect 1 July 2017 and include the following:

• The removal of stamp duty for homes – both new and established – under $600,000;
• Scaled stamp duty reductions for homes – both new and established – between $600,000 -$750,000;
• Doubling of the First Home Owners Grant – from $10,000 to $20,000 – for new homes in regional Victoria under $750,000; and

Changes to off-the-plan stamp duty concessions – these will now only apply to those who qualify for PPR or first homebuyer concessions.

Also this week, the Reserve Bank of Australia decided to leave the official cash rate on hold at its record low of 1.5%.

James Worssam

james@greatoceanroadrealestate.com.au

0418 585 815

Posted by Great Ocean Road Real Estate on 10th March, 2017