Stamp duty savings a hit

By Alesha Capone

Stamp duty concession and exemption figures from the state government show that Wyndham remains a popular option for first-home buyers.

Across the past two years, thousands of first-home buyers in Wyndham have been granted stamp duty concessions and exemptions that apply to first homes costing $750,000 or less.

Under legislation the Victorian government introduced two years ago, homes under $600,000 do not attract any stamp duty, while concessions apply for purchases up to $750,000.

Figures released by the government show that since July, 2017, 2985 first-home buyers in the 3029 postcode (which covers Hoppers Crossing, Tarneit and Truganina) have been granted stamp duty concessions or exemption.

In the 3030 postcode, which covers Point Cook, Quandong, Werribee and Werribee South, 2944 first-home buyers have been granted stamp duty concessions or exemption.

The 3024 postcode, which includes Manor Lakes, Mambourin, Wyndham Vale, Mount Cottrell and Fieldstone, logged 1141 grants and exemptions.

The postcode of 3064 (Craigieburn, Donnybrook, Roxburgh Park, Kalkallo and Mickleham) placed first on the list with 3567.

In the two years since the government reduced stamp duty payments, Victorians have saved a collective $1.3 billion on properties across the state.