Victorian Buyers Celebrate Extended Stamp Duty Savings

The Victorian Government has delivered a welcome boost to the property market, with extended stamp duty concessions set to make homeownership more attainable and construction activity more vibrant across the state. As part of the Allan Labor Government’s $61 million investment in the 2025/26 State Budget, the popular off-the-plan stamp duty concession will now run until October 2026—an initiative expected to benefit thousands of buyers and developers alike.

This measure comes as part of a broader strategy to increase housing supply, improve affordability, and support the construction sector. Originally launched in October 2024, the off-the-plan stamp duty concession has already made a significant impact. By extending it another year, the Government is signalling strong ongoing support for the housing market and those working to build it.

Unlike many previous schemes, this concession is not limited to first-home buyers or owner-occupiers. It applies to any buyer purchasing a new apartment or townhouse off the plan, provided it is part of a strata subdivision. There are no price caps, and the earlier in the build a property is purchased, the greater the stamp duty discount. This has seen eligible buyers save an average of $24,517 since the scheme’s introduction. For example, someone buying a $620,000 apartment could now pay just $4,000 in stamp duty—compared to the typical $32,000.

These savings are not just a win for homebuyers but also serve as a powerful incentive for developers. The reduced cost of purchase helps unlock demand and encourages more off-the-plan sales, providing developers with the confidence and capital to get projects off the ground faster. This is especially important in the context of the current housing crisis, where delays in planning and funding can significantly slow down supply.

Victorian Premier Jacinta Allan reinforced this intention, saying the initiative is designed to support those struggling to enter the market: “That’s why we’re slashing stamp duty for off the plan units and townhouses – to build more homes and make them cheaper to buy.”

Treasurer Jaclyn Symes echoed this sentiment, highlighting the broader impact on the industry: “This isn’t just great news for homebuyers trying to get into the market. It’s also a huge win for homebuilders.”

The announcement also includes a $24 million investment to deliver 50 new “Train and Tram Zone” Activity Centres in Melbourne’s inner and middle suburbs. These will help accelerate housing growth in areas well-connected to transport, jobs, and everyday amenities—another clear step toward solving the state’s housing pressures. Meanwhile, new Precinct Structure Plans for Clyde South and Derrimut Fields will unlock 13,200 homes and 8,600 jobs, supercharging development in Melbourne’s key growth corridors.

For recruiters and professionals in the construction industry, this is more than just a housing policy—it’s a signal of steady demand and strong pipeline activity ahead. From trades and supervisors to engineers and project managers, the continued government backing of medium and high-density housing projects means opportunities will be plentiful in the years to come.

In summary, this extension provides certainty for buyers, motivation for developers, and a fresh wave of optimism across the construction sector. With more homes set to rise and more Victorians on track to achieve homeownership, the future is looking bright—and busy.