Blog

What 2025 Holds for Victorian Homebuyers: Key Incentives You Should Know

For first-home buyers eyeing the Victorian property market, 2025 has brought some welcome news. With housing affordability still a concern for many, the Victorian Government has introduced a suite of financial support measures to help more people take that all-important first step onto the property ladder.

Here’s what’s on offer and how conveyancers like All Hours Conveyancing can help you navigate the legal details to make the most of each opportunity.

1. Stamp Duty Relief

Stamp duty can be a major hurdle for buyers, but this year’s incentives go a long way in reducing that burden:

• Full exemption for first-home buyers purchasing properties valued up to $600,000.
• Concessional rates for purchases between $600,001 and $750,000.
• Off-the-plan concessions expanded to all buyers within a strata subdivision, not just first-home buyers or owner-occupiers.

📌 Note: These benefits are subject to eligibility. A thorough contract review and early examination of the Section 32 can save you time and money.

2. First Home Owner Grant (FHOG)

If you're building or buying a brand-new home, the FHOG remains a significant financial boost:

• Grants of $10,000 are available for new homes valued up to $750,000.
• Applicants must be Australian citizens or permanent residents.
• You must live in the home as your principal place of residence for a minimum of 12 months.

💡 Pro tip: This grant can assist with your deposit or be applied to cover legal and settlement-related expenses.

3. Victorian Homebuyer Fund (Shared Equity Scheme)

For eligible buyers, the Homebuyer Fund offers another path to ownership with less upfront savings required:

• Enter the market with as little as a 5% deposit.
• The Victorian Government may contribute up to 25% of the purchase price.
• For Aboriginal and Torres Strait Islander applicants, this can increase to 35%.
• No Lenders Mortgage Insurance (LMI) required.

👀 Important: This is a shared ownership model. We recommend seeking legal advice to ensure you fully understand your responsibilities under the equity agreement.

Final Word: Legal Clarity Matters

All Hours Conveyancing, our role is to help you move forward with clarity and confidence. With over two decades of experience supporting Melbourne buyers, we collaborate with your agent and mortgage broker to protect your interests from contract signing through to settlement.

📩 Thinking of buying?
Get in touch with our team today, and let’s talk about how we can help you unlock the full value of these 2025 homebuyer supports.

#FirstHomeBuyer #Homeownership #StampDuty #FHOG #SharedEquity #MelbourneProperty #ConveyancingSupport #AllHoursConveyancing