Victoria cuts stamp duty for new builds

Melbourne supply

Melbourne has been faring reasonably well when it comes to approvals for detached homes (certainly as compared to Greater Sydney). 

On the other hand, unit approvals have really approved since the previous cycle, when a lot of buyers were burned buying off-the-plan and sucking up capital losses. 

Stockland reported in its 1Q25 update today that both net sales and enquiries in New South Wales are down by around 50 per cent, while net sales in Victoria were down by about 30 per cent. 

Mirvac's Chief Executive noted last week at a Citi conference that the housing crisis could last for years, in part because government infrastructure investment and spending is chewing up the construction workers and capacity in Sydney.

Stamp duty slashed

Victoria's state government announced today that stamp duty will be slashed for all off-the-plan apartment purchases for the next 12 months. 

You can always be assured that reform in Australia will come in the form of demand-side stimulus measures.

Whether this proves to stimulate new supply will be an interesting one to watch.

Such measures have often proven to be effective because consumer love the idea of a discount or getting something for nothing.

On the other hand, there are still capacity issues in the construction sector, and profit margins at today's prices are still likely to be very thin. 

---

P.S. Whenever you’re ready…here are 5 ways I can help you manage your own money and go next level wealth:

1. Boom or Bust – 20 minute online workshop for investors

Register for my next free online training - Boom or Bust? How to change your investment plan - book in here

You also download a free copy of my e-book The Only 6 Ways to Become Wealthy here.

    2. Download our property buying guide

Download our free property buying guide here. 

You can also check out a few of our recent property investment purchases here. 

Get in contact with us today if strategic property investment is your thing. 

    3. Subscribe to our Top 10 Podcasts for Investors

Listen in to our podcasts

The Australian Property Podcast is rapidly becoming one of Australia's biggest business podcasts, now with well over 50,000 audio downloads per month, and growing fast.

And our popular Low Rates High Returns Show also remains available on Spotify.

    4. Subscribe for my free daily blog

Subscribe for my free daily blog with some 3.7 million hits here. 

You can also catch up with me daily on Twitter here, where I'm active daily and have over 14,500 followers. 

By the way, I'm a 7-times published author on finance and investing, so you can check out some of my books here.

My new book, co-authored with Cate Bakos is available to buy here or on Amazon here - follow our book release on Facebook here and at our Buy Right podcast series here. 

5. Work with me privately

For a limited time you can book in a free diagnosis call with me here, so book in a call today.