🏠, The REIV Welcome Steps Towards Stamp Duty Reform

Published: Sat, 10/26/24

Hi ,

Relief is in sight for home buyers purchasing off-the-plan units, apartments or townhouses with the Victorian Government's plan to offer uncapped stamp duty concessions to ALL buyers of off-the-plan strata properties in Victoria.

REIV CEO Kelly Ryan hopes this is the first step in comprehensive stamp duty reform, with tax concessions introduced to incentivise investors and stimulate more development of high density homes across the state.

The announcement coincides with an infrastructure development program planned to introduce 50 new train and tram zones around high density housing projects.

While the details of the government's announcement are not yet to hand, the REIV is closely watching further announcements in relation to the Housing Statement and will continue to pursue initiatives that will help to ease the housing crisis.

It's baby steps, but hopefully it's the start of better things to come.

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Wendy In The Media

This week's Property Mama podcast is a cracker, have you listened yet? Episode 36 will make you grateful for all the times you've bought or sold a house without a disaster! Click below to see where you can catch Episode 36: The $45,000 Auction Blunder. When Real Estate Goes Wrong.

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What Our Happy Clients Have To Say...

We love hearing what our happy clients have to say about their experiences with Chamberlain Property Advocates. We helped Stuart buy a home. Here's what he had to say:

"Working with Wendy – excellent experience! Made the process so much simpler than it would have been on myself, taking advantage of all the contacts she has as well made connecting to the right people absolutely dead simple.

Their contacts with other real estate agents, they managed to get this place off market! Wouldn’t have been able to find this place without them. Absolutely stellar performance.

Really took the guesswork out of a lot of things, finding places to go look at that were what I wanted to look at already, without having to spend the extra time finding it myself. Dealing with all the real estate agent shenanigans as well, just having that extra person who knows what they’re doing who can sounding board your own ideas against them, so you sort of figure out what you want; if it’s a good idea or not."

Stuart

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Wendy's Tips

Let's talk about finance. It is so important to speak to your bank before you take any steps towards buying a property, so that you fully understand what you can afford.

I see time and time again, particularly at auctions, people going over their budget and getting into strife. You really must stick to your budget which will allow an amount for the property purchase along with stamp duty fees and all associated costs such as removalists and conveyancing fees.

Know what your budget is and know when you need to walk away from a property sale. You may not buy that dream home, but another house always comes along. Know your numbers, know your budget and buy well.

Need a hand? Give us a call.

Wendy Chamberlain, Buyer's Advocate

Where Is Wendy Speaking Next?

Wendy will be back on the NorthWest FM's Midday Panorama Show with Vilma Formosa on Friday 15th November at 1:30pm. Remember to tune in!

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Seeking the support and guidance of a buyers or sellers advocate is always a good idea. We help to take the stress out of buying and selling property! It always pays to have an expert in your corner.

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