First Home Buyer Stamp Duty Concessions in Victoria: 2026 Update
Stamp duty — formally known as land transfer duty in Victoria — is one of the largest upfront costs in a property purchase. First home buyers may be eligible for a full exemption or a significant concession, depending on the value of the property and whether it is a new or established home.
The principal place of residence concession
All buyers who intend to use the property as their principal place of residence for at least 12 months are entitled to a concession on stamp duty. This applies regardless of whether you are a first home buyer. The concession reduces the duty payable on properties valued up to $550,000.
First home buyer duty exemption
First home buyers purchasing a property valued at $600,000 or less are entitled to a full exemption from stamp duty. For properties valued between $600,001 and $750,000, a partial concession applies on a sliding scale. These thresholds apply to both new and established homes.
Off-the-plan concessions
Buyers purchasing off the plan may be eligible for an additional concession. The duty is calculated on the contract price minus the construction costs incurred after the contract date, which can significantly reduce the dutiable value — and therefore the duty payable.
Eligibility requirements
To qualify for the first home buyer exemption or concession, you must be an Australian citizen or permanent resident, be at least 18 years old, have never previously owned residential property in Australia, and intend to live in the property as your principal place of residence for at least 12 months.
The First Home Owner Grant
Separate from stamp duty concessions, eligible first home buyers purchasing or building a new home valued at up to $750,000 may also be entitled to the First Home Owner Grant of $10,000. The grant is administered by the State Revenue Office and is paid at settlement or first drawdown.
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