Melbourne suburbs where you can’t buy a house for under $1 million

House hunters who do not have a seven-figure budget have already been priced out of five Melbourne suburbs. And as house prices continue to climb, more home owners will come to grips with the idea that $1 million will not stretch far in this city. Big-ticketed suburbs such as Toorak and Hawthorn may have the most expensive houses, but it is the city’s smallest pockets with the highest entry prices. Last year, not a single a townhouse or house changed […]

First home buyers: Stamp duty cuts for houses worth up to $600,000

Tens of thousands of first home buyers will no longer have to pay stamp duty on properties worth up to $600,000 under an Andrews government plan to make housing more affordable. Long-awaited reforms to be unveiled on Sunday will give new home owners savings of up to $15,000 by exempting them from stamp duty on new and existing properties, in a bid to help more Victorians to break into the expensive housing market. A $50 million pilot program will also […]