First home buyer guides

Stamp Duty for First Home Buyers in Victoria: Why Your Budget Threshold Matters

By Victoria Whittaker, Buyer’s Advocate · Last reviewed 16 October 2026

Eligible Victorian first home buyers pay no stamp duty on homes with a dutiable value up to $600,000. A reduced amount applies from $600,001 to $750,000, subject to the full eligibility requirements.

When you are working out what you can afford, the purchase price is only part of the picture.

Stamp duty can change how much cash you need to complete the purchase. For first home buyers in Victoria, understanding the thresholds early can help you avoid a surprise later.

What are the first home buyer thresholds?

Subject to eligibility, Victorian first home buyers receive:

The rules can apply to new and established homes. Other concessions may be relevant depending on the transaction.

Does a small price increase matter?

If you increase your offer, check the effect on both your loan and your duty liability.

Going above $600,000 does not instantly trigger the full ordinary duty amount for an otherwise eligible buyer. The concession tapers through the relevant range. However, the extra buying cost still needs to come from somewhere.

The SRO uses dutiable value, which is not always simply the advertised price. Off-the-plan purchases and other transaction types can need a more detailed assessment.

Which stamp duty calculator should you use?

Use the State Revenue Office’s official land transfer duty calculator and select the options that match your circumstances. Ask your conveyancer to confirm the result before you rely on it.

An online estimate cannot determine every eligibility issue, including previous ownership, a partner’s circumstances and occupancy requirements.

Should you only buy below $600,000?

I would compare the full outcome. A suitable home slightly above the threshold may make more sense than one below it that needs immediate expensive work.

Equally, there is no value in stretching your budget for features you do not need. Compare the property, likely repairs and total cash required together.