Stamp Duty in Victoria – First Home Buyers Take Note!

Brad Ryan – Harcourts Narre Warren South

I have been asked to add to my blog page some information in relation to what the stamp duty amount payable would be for a first home buyer that is of course going to be living in the home as their PPR ( Principal Place of Residence )

I have collected the information below from the SRO website which is listed below for you to click on to gather additional information based on your own individual situation.

http://tinyurl.com/mmjllw ( SRO Website Link )

As always please consult your conveyancer / solicitor as this information is intended as a guide only.

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For Contracts On Or After 6 May 2008

Duties Rates

Tax rate information according to the Duties Act 2000

For the purchase of your home (i.e. Principal place of residence) for contracts entered into on or after 6 May 2008.
Dutiable Value Range	Rate
$0 – $25,000	1.4 per cent of the dutiable value of the property
$25,001 – $130,000	$350 plus 2.4 per cent of the dutiable value in excess of $25,000
$130,001 – $440,000	$2,870 plus 5 per cent of the dutiable value in excess of $130,000
$440,001 – $550,000	$18,370 plus 6 per cent of the dutiable value in excess of $440,000
$550,001 – $960,000	$28,070 plus 6 per cent of the dutiable value in excess of $550,000
More than $960,000	5.5 per cent of the dutiable value

 

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Principal Place Of Residence

What is a PPR concession?

A Principal Place of Residence (PPR) concession is a concessional rate of duty that applies to transfers of property where the contract of sale is entered into on or after 1 January 2007 and the land purchased is intended to be occupied as a PPR.

The applicable concessional rate of duty depends on the dutiable value of your PPR and the date on which the contract to purchase the PPR was entered into.

For contracts entered into on or after 6 May 2008:

Dutiable value of the PPR	Reduced rate of duty	Standard rate of duty	Difference
> $130,000 to $440,000	$2,870 plus 5% of amount > $130,000	$2,870 plus 6% of amount > $130,000	Rate reduction of 1%
> $440,000 to $550,000	$18,370 plus 6% of amount > $440,000		Duty reduction of $3100

 

For a complete range of homes for sale see my website www.bradleyryan.harcourts.com.au

Home For Sale Berwick – 59 St.Boswells Ave Berwick

Auction 15th August 2009

Don’t Hesitate Here.

Come one, come all to see this beautifully presented two story home standing tall in prestigious Berwick, comprising three bedrooms plus study or 4^thbedroom. The master bedroom is secluded upstairs with its own full ensuite and multiple built in robes. Downstairs you are greeted with the kitchen and its generous size meals area, separate family room and formal lounge with its very own cozy open fire place. Extra features include two split system cooling/heating units one in the family room and the other in the master bedroom, great outdoor decked area and great side access through to the barn style garage/shed great for tradesmen and could easily fit a truck/caravan etc.. All this just a short stroll from Eden Rise shopping centre, your inspection will be sure to impress.

Auction: Saturday 15th August at 12.00pm on site.

Terms: 10% Deposit – Balance 120 Days.

Brad Ryan Harcourts – New Listing 34 Seebeck Drv Narre Warren South

Brad Ryan from Harcourts Narre Warren South has just listed this as new and inviting Porter Davis Home. Positioned with-in a easy stroll to local shops and the P12 school make this home suitable for everyone, you even have the bus go pass the front door! For more information and photos of this great home see my website:

Open For Inspection this Saturday 12.30- 1.00pm or by appointment.

www.bradleyryan.harcourts.com.au

Young Porter Davis Home

Brad Ryan Harcourts- New listing 8 Michelle Drive Hampton Park

Brad Ryan from Harcourts Narre Warren South has just listed this great value home perfect for the first home buyer or smart investor. Offering an amazing four bedrooms plus a study / home office this home has to be on top of your list of homes to see this weekend! Located with-in easy access to schools, major highways and Hallam train station make this home suitable for everyone. For more pictures or information see my website www.bradleyryan.harcourts.com.au

Priced to sell super fast with offers over $310,000

First Home Buyers – Grants, Boosts & Bonus!

Well it is with some relief across the industry of real estate that the federal government is going to continue the “boost” for first home buyers in both the established and new homes market. The typical cycle of a slower market place over the winter months will see the government Grant, Boost & Bonus keep the market place buoyant to the more popular spring market for buying and selling.  This is now a great time for first home buyers to grab their very own piece of Australia and take advantage of these large government hand outs and capitalise on the low interest rates on offer through the majority of lending institutions in Australia.

Grant available on this home of $17,000

Below is a summary of the Federal Budget 2009

First Home Owner’s Boost, worth an extra $14,000 for buyers of a newly built home and $7,000 for buyers of existing homes, to be extended until September 30 at the full rate. From October 1, the Boost will be halved to $7,000 for new homes and $3,500 for existing homes, and will no longer be offered after December 31. Original scheme of $7000 for new home buyers to be retained.

Grant available on this home $21,000

 

 

 

 

 

 

 

For a range of established and new homes available to take full advantage of the ongoing Federal Government new home buyers grants see my website www.bradleyryan.harcourts.com.au

 

Brad Ryan Harcourts – New Listing 4 St Ives Drive Narre Warren South

Brad Ryan from Harcourts Narre Warren South has just listed this amazing home for sale. Situated in one of the most sought after streets in Narre Warren South, on approxamatly 1000m2 of land this home is sure to please the most fastidious of buyers and make everyday feel like you are on holidays with its resort like pool and entertainment zone. Inside the home is fitted out with all the luxury’s you would expect of a home in this street, from the oversize kitchen to the ornate cornice this is one home that you will want to call your own. For more pictures of this home and a detailed property description please feel free to look up my website www.bradleyryan.harcourts.com.au  or drop me an email brad.ryan@harcourts.com.au

Private Oasis

Brad Ryan Harcourts – New Listing 283 Ormond Road NWS.

Brad Ryan from Harcourts Narre Warren South, has just listed this fantastic opportunity to get your foot in the door to the Narre Warren South marketplace. True four bedroom homes such as this one are getting harder to find, especially the ones situated so close to all the local amenities. For More information & pictures on this home or the many others available through Harcourts Narre Warren South – Look up my website:  www.bradryan.com or drop me a message on brad.ryan@harcourts.com.au

 

Tale of Two Suburbs

Just read an interesting article in today’s Herald Sun newspaper in the real estate lift out titled the Tale of Two Suburbs.

I found it interesting as it has an impact on my local area and paints a positive picture! Yes I was surprised too.

It is the tale of two suburbs: Caroline Springs v Narre Warren

Even though both suburbs are on opposite sides of the CBD, it show that buyers do not suffer capital growth buy buying in new and affordable areas.

Over the previous five years a home in Caroline Springs has shown a median price growth of 16 per cent, of which the majority of that growth occurred in the past two years. In the same two year period the median growth of Melbourne grew 19 per cent.

The best part of the artical for me was that Narre Warren has fared a whole lot better with an increase of 28 per cent!

There is a wide range to choose from in these areas from new or established homes.

For a complete list of homes available in Narre Warren view my website for both the latest sale property’s and homes sold. www.bradleyryan.harcourts.com.au or for a professional chat with your local real estate expert give me a call or drop an email to brad.ryan@harcourts.com.au

Have  a Fantastic Weekend,

Brad.

4 Parry Drive Narre Warren **Auction**

Mortgagee Auction

This Saturday the 18th April 2009 at 1.00pm I will be calling the Auction for 4 Parry Drive in Narre Warren- It is building up to be another fast paced bidding frenzy! With a number of bidders trying to make their dream come true and own their very own piece of Australia. This fantastic ex display home has all the modern tones and design and is sure to be a winner. Hope to see you on the day!

For More details click on the photo above.

Have a Fantastic Week

Brad

Tips For Bidding At An Auction Part 1

If you are going to attend an auction to bid for a property, there are some routine things you need to do on the day, before the auction begins.

*Arrive in sufficient time beforehand for a final walk-through of the property and to allow you to check the contract, vendor’s statement, information about auctions and the auction rules, which will all be on display.

*If you have any questions, do not be afraid to raise them with the auctioneer before bidding starts. One of the rules is especially important in today’s auction climate when many properties are passed in and sold shortly afterwards. This rule says if a reserve price has been set – invariably this will be the case – and the auctioneer passes the property in below that price, the owner will first negotiate with the highest bidder for the purchase of the property.

*If you have participated in the bidding or have been sitting back watching how it is progressing, and the auctioneer announces the property is going to be passed in, it is a good strategy at this point to bid up to obtain the right to “first negotiate” with the owner.

Look out for more of my Auction Tips in the near future.

Have a Fantastic Week

Brad