When it comes to purchasing your first home, securing the finances can seem like an insurmountable task. However, if you live in Melbourne you could be in luck, with the Victorian government announcing an increase to the state's stamp duty concessions from yesterday (1 September). The stamp duty concession for first-time buyers in Victoria is now 50 per cent, which could be great news for potential buyers of real estate in Carnegie.
Now could be the perfect time to consider moving into your first home, with treasurer Michael O'Brien stating the concession has already helped almost 60,000 first-time buyers since being introduced in 2011. The increase in value has been estimated to help 26,000 new buyers save up to $200 million over the next 12 months.
"This boosted stamp duty concession will make home ownership more affordable and support jobs by stimulating the housing construction industry," said Mr O'Brien in a 31 August statement.
If you're a first time buyer interested in purchasing a home in Carnegie, get in touch with Matt Hurlston at Ray White Carnegie. His expertise in the local market will help you to find the right property for your future.