Data released from the State Revenue Office (SRO) confirms that the Andrew’s Governments, Homes for Victorians package is already helping first home buyers.

Data for the months of July and August shows that nearly 1000 Victorians have benefited from the complete removal of stamp duty on all first home purchases under $600,000. A further 132 benefited from a reduction in their stamp duty bill on properties between $600,000 and $750,000.

Locally in Wyndham, the data indicates that 99 people benefited from the reduction in stamp duty, announced in the Homes for Victorians package. Member for Werribee, Tim Pallas said that this was a significant boost for young people and families as they looked to enter the housing market.

These changes took effect on 1 July 2017 and the Government expects that first home buyers will continue to save, with over $37 million in savings already.

Quotes attributable to the Member for Werribee, Tim Pallas

We implemented these reforms to make it easier for first home buyers to crack into the housing market, and already we’re seeing a very strong uptake.

We know that getting started in the housing market is difficult and we’re trying to level the playing field for first home buyers.