According to REA, over 100,000 first-time home buyers in Victoria have benefited from the government’s first-time home purchase policy in the past three years, saving $1.76 billion in stamp duty.
Among them, the favorite municipalities for first-time buyers are Casey, Wyndham and Hume. The total stamp duty for first-time home buyers in these areas is $174.9 million, $159.2 million and $123.8 million respectively. Experts say that Clyde North and Cranbourne have been selling fast under $600,000. The main buyers are young families, and single buyers are generally in the first half of their 20s. He believes that the first home purchase policy has indeed played a certain role in promoting the real estate market and has created stable demand.
