Stamp duty in Victoria 2026–27: rates, first home buyer savings and examples
What you'll pay in land transfer duty on a Victorian property this financial year, who pays less, and how the off-the-plan concession works.
Key points
- General rates are unchanged for 2026–27: most homes pay around 5% to 5.5% of the price.
- First home buyers pay no duty up to $600,000 and reduced duty up to $750,000.
- The owner-occupier concession only helps on homes up to $550,000.
- The expanded off-the-plan concession has been extended to 20 April 2027, subject to legislation.
- Example: a $700,000 first home attracts about $24,713 instead of $37,070.
Victoria charges land transfer duty (most people still call it stamp duty) when you buy property. It's one of the biggest upfront costs of buying a home in Melbourne or regional Victoria, and on a typical house it's more than in most other states. The good news is that first home buyers can pay little or nothing, and some off-the-plan buyers can cut the bill sharply. Here's how it works in 2026–27.
Victorian stamp duty rates for 2026–27
Victoria's general rates apply to investors and to any purchase that doesn't qualify for a concession. They weren't changed in the 2026–27 State Budget, and unlike NSW, Victoria doesn't index its brackets each year.
| Dutiable value | Duty payable |
|---|---|
| $0 – $25,000 | 1.4% of the value |
| $25,001 – $130,000 | $350 plus 2.4% of the value over $25,000 |
| $130,001 – $960,000 | $2,870 plus 6% of the value over $130,000 |
| $960,001 – $2,000,000 | 5.5% of the whole value |
| Over $2,000,000 | $110,000 plus 6.5% of the value over $2,000,000 |
The dutiable value is the higher of the price you pay and the property's market value. Because the rate jumps to 6% from $130,000, most Victorian homes attract duty of around 5% to 5.5% of the price.
The principal place of residence concession
If you'll live in the home and it costs $550,000 or less, a lower scale applies between $130,000 and $550,000: 5% instead of 6% up to $440,000. On a $500,000 home you'd live in, that brings duty down from $25,070 to $21,970. Above $550,000 there's no owner-occupier discount at all, so a home buyer pays the same as an investor.
First home buyer exemption and concession
Eligible first home buyers in Victoria get:
- No duty on a home valued at $600,000 or less.
- Reduced duty between $600,001 and $750,000. The discount shrinks evenly across that range, so it's worth less the closer you get to $750,000.
- No first home discount above $750,000.
The thresholds apply to established homes, new homes and off-the-plan purchases alike. Generally, to qualify you must be buying your first home in Australia (and your partner mustn't have owned one either), at least one buyer must be an Australian citizen or permanent resident, and you must move in within 12 months and live there for at least 12 months in a row. Defence force members can be exempt from the residence rule.
New homes valued up to $750,000 may also attract the $10,000 First Home Owner Grant, which is separate from the duty savings.
Worked examples
| Price | First home buyer | Home to live in | Investor |
|---|---|---|---|
| $500,000 | $0 | $21,970 | $25,070 |
| $600,000 | $0 | $31,070 | $31,070 |
| $650,000 | $11,357 | $34,070 | $34,070 |
| $700,000 | $24,713 | $37,070 | $37,070 |
| $750,000 | $40,070 | $40,070 | $40,070 |
| $800,000 | $43,070 | $43,070 | $43,070 |
| $1,000,000 | $55,000 | $55,000 | $55,000 |
Figures from our stamp duty calculator using the rates above. They exclude the land transfer registration fee and any foreign purchaser additional duty.
Example: a $700,000 first home. The general duty on $700,000 is $37,070. Because the price sits two-thirds of the way between $600,000 and $750,000, an eligible first home buyer gets a third of that as a discount and pays about $24,713, a saving of $12,357.
Example: the $750,000 cliff. At $750,000 the concession has fully phased out, so a first home buyer pays the same $40,070 as anyone else. If you're negotiating near that point, every dollar off the price is worth more than a dollar to you.
Off-the-plan concession
When you buy off the plan, Victoria lets you deduct the cost of construction still to be done after you sign from the dutiable value. That can make a large difference if you sign early in a build.
- Temporary expanded concession: for apartments, units and townhouses in a strata subdivision with common property, contracts signed from 21 October 2024 can deduct all remaining construction and refurbishment costs. Any buyer can use it, including investors, and there's no price cap. It was due to end on 20 October 2026; the 2026–27 State Budget extended it to 20 April 2027, subject to legislation.
- Standard concession: first home buyers, owner-occupiers and eligible pensioners can still use the off-the-plan concession on other dwellings, including houses, but the reduced value must fall under the relevant thresholds ($750,000 for first home buyers and $550,000 for owner-occupiers and pensioners).
The Victorian Government's own example: a $620,000 apartment bought before construction starts might drop from about $32,270 in duty to about $4,000. Your conveyancer will need the developer's figures for the land and remaining construction costs to work out the exact amount.
Other costs and things to check
- Foreign purchasers pay additional duty on top of the general rate.
- Registration fees for the transfer and your mortgage are charged separately by Land Use Victoria.
- Buying with someone who has owned before can reduce or remove the first home discount, so check before you sign.
- Duty is usually paid at settlement through your conveyancer. It can't normally be added to your loan unless your lender agrees to lend more, which can push you into lenders mortgage insurance.
See the Victorian stamp duty table
Frequently asked questions
How much is stamp duty on a $600,000 house in Victoria?
For an eligible first home buyer it's nil. Anyone else pays $31,070, because the owner-occupier concession stops at $550,000.
Do first home buyers pay stamp duty in Victoria?
Not on a home valued at $600,000 or less. Between $600,000 and $750,000 they pay reduced duty, and above $750,000 they pay the full general rate.
Is the Victorian off-the-plan concession still available?
Yes. The expanded concession for strata apartments, units and townhouses applies to contracts from 21 October 2024 and was extended to 20 April 2027 in the 2026–27 Budget, subject to legislation. Check with the State Revenue Office before you sign.
Sources
- State Revenue Office Victoria: land transfer duty current rates
- State Revenue Office Victoria: first home buyer duty exemption or concession
- Victorian Government: support for first home buyers
- Victorian Government: cutting the costs of buying off-the-plan
More guides
- Stamp duty in NSW 2026–27
- Stamp duty in South Australia 2026–27
- Novated leases explained
- Salary packaging for nurses and health workers
Last reviewed October 2026. This guide is general information only. It isn't financial, tax, credit or legal advice and doesn't consider your circumstances. Rules change, so check the official sources below or speak to a licensed professional before you make a decision.