Stamp duty and buying costs in Victoria: what a Peninsula purchase costs

The price on the listing is not the price you pay. Here is the rest.

Transfer (stamp) duty

Victoria charges land transfer duty on a sliding scale of the dutiable value (usually the price). The general rates are:

• $25,001 – $130,000: $350 plus 2.4% of the amount over $25,000
• $130,001 – $960,000: $2,870 plus 6% of the amount 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 amount over $2,000,000

So a $1.2 million house attracts $66,000 in duty, and a $2.5 million house $142,500. Buyers who will live in the home get a principal place of residence concession between $130,000 and $550,000.

First home buyers pay no duty on a home valued up to $600,000, and a reduced amount on a sliding scale up to $750,000. A First Home Owner Grant of $10,000 is available on new homes valued up to $750,000. Foreign purchasers pay additional duty.

Use the REMP calculator for an estimate, then confirm with the State Revenue Office or your conveyancer.

The other costs

• Conveyancing or legal fees — get two or three fixed-fee quotes.
• Building and pest inspection — on the Peninsula, add a septic inspection for properties not on mains sewer.
• Lender fees and mortgage registration. The Land Use Victoria transfer and mortgage registration fees are set by the state.
• Lenders mortgage insurance if you borrow more than 80 per cent of the value — ask your lender for the exact figure; on Peninsula prices it can be large.
• Moving, connections and the rates adjustment at settlement.

Ongoing

Shire rates, water, insurance (bushfire and coastal exposure can push premiums up) and, for a second home, land tax. Short-stay lets also carry Victoria's 7.5 per cent short-stay levy (from 1 January 2025).

Sources

• State Revenue Office: land transfer duty
• State Revenue Office: first home buyers
• State Revenue Office: short stay levy

Rules and thresholds were checked in October 2026. They change — confirm with the source before you sign anything.