Victoria's Housing Market Faces Major Overhaul with Stamp Duty Cuts

The Victorian government introduces a 12-month stamp duty reduction for off-the-plan purchases to boost housing supply and ease the crisis.

Victoria's Premier Jacinta Allan has announced a 12-month plan to slash stamp duty for off-the-plan apartments, units, and townhouses.
Experts are divided on whether the stamp duty cuts will effectively reduce housing costs or increase supply, with some developers warning of potential price hikes.
The state government has introduced a new infrastructure charge for developers, which may raise the cost of new homes for buyers.
Federal Housing Minister Clare O'Neil supports the removal of stamp duty nationwide, calling it a 'bad tax' that distorts the housing market.
The Business Council of Australia advocates for a national reform fund to incentivize states to replace stamp duty with a land tax.