The Victorian Government is helping more people buy their dream home, with thousands of first home buyers spared millions of dollars in stamp duty costs over the past financial year.

That includes in Wyndham where 3,815 people got the keys to their first home and saved $68,279,112 in stamp duty concessions or waivers.

The latest data shows that they were among the 40,000 first home buyers to save a collective $724 million in stamp duty between 1 July 2019 and 30 June 2020.

Across the state, the local government areas of Casey, Wyndham and Hume recorded the highest numbers of stamp duty waivers and concessions, while for regional Victoria, it was Geelong, Bendigo and Ballarat.

More than 9,400 Victorians paid no stamp duty at all and 381 received the concession when buying their first home in regional Victoria, saving $120 million all up.

Under the Victorian Government’s Homes for Victorians scheme, applicants don’t pay any stamp duty at all on properties under $600,000 and receive a stamp duty concession for property valued up to $750,000.

All applicants who build or buy a new home are also eligible for a $10,000 First Home Owner Grant, which is doubled to $20,000 for new homes in regional areas.

The global pandemic is having an impact on the property market and the economy, but the Government’s stamp duty concessions are making it easier for young Victorians get their foot in the door of the housing market.

More than 103,000 Victorians have saved close to $2 billion in stamp duty since Homes for Victorians was introduced in 2017.

Quotes attributable to Treasurer and Member for Werribee Tim Pallas

“Even amid a global pandemic, our scheme is helping Victorians get a leg-up and enter the property market – turning their dreams of home ownership into a reality.”

“Home ownership has become increasingly difficult for young Victorians and we know it can often feel out of reach. That’s why we abolished stamp duty for properties valued $600,000 or less – so first home buyers get a fair go.”