Buying a home in Victoria comes with a few unavoidable costs, and stamp duty is one of the biggest. Whether you’re a first-home buyer, upgrading, or investing in property, it’s important to understand how stamp duty is calculated and what other fees might apply to your home loan. Knowing this upfront helps you budget accurately and avoid last-minute surprises when it’s time to settle.
What Is Stamp Duty and Who Pays It?
Stamp duty, also known as stamp duty on transfer of land, is a tax paid to the State Revenue Office (SRO) of Victoria when you buy property or land. It’s calculated based on the market value or purchase price of the property—whichever is higher. The more expensive the property, the higher the duty. Stamp duty is typically paid at settlement, though some lenders allow buyers to factor it into their overall loan planning.
For homebuyers in Bendigo and regional Victoria, this cost can make a noticeable difference to the upfront amount needed when purchasing.
Current Stamp Duty Rates in Victoria
As of October 2025, stamp duty in Victoria is generally calculated using a sliding scale:
- 1.4% of the property’s value up to $25,000
- 2.4% between $25,001 – $130,000
- 6% between $130,001 – $960,000
- 5.5% for properties valued over $960,000
For example, a home purchased for $600,000 attracts around $31,070 in stamp duty, while an $800,000 home would incur approximately $43,070. These figures can vary slightly depending on concessions and exemptions.
Stamp Duty Exemptions and Concessions
The good news is that some buyers qualify for reductions or full exemptions:
- First Home Buyers: If you’re buying your first home valued up to $600,000, you could be exempt from paying stamp duty entirely. For homes priced between $600,001 and $750,000, a sliding concession applies.
- Principal Place of Residence (PPR) Concession: Buyers who plan to live in their new property as their main home may qualify for a partial discount on stamp duty.
- Pensioner and Concession Card Holders: Eligible buyers can receive a one-time exemption or concession when purchasing a home to live in, up to certain property value thresholds.
- Off-the-Plan Concessions: If you buy before construction is complete, you may only pay duty on the land value, not the full contract price.
You can check your eligibility or estimate duty costs using the (link our calc) or SRO Victoria Stamp Duty Calculator.
Other Government Fees to Budget For
Alongside stamp duty, there are a few smaller but important government fees:
- Transfer Fee: Paid to officially register the property in your name with Land Use Victoria.
- Mortgage Registration Fee: Covers the cost of registering your lender’s interest on the property title.
- Titles Office Charges: Usually modest but essential for completing legal ownership.
While these amounts are minor compared to stamp duty, they can add up to several hundred dollars and should be included in your budget.
Home Loan Fees You Might Not Expect
Beyond government costs, there are fees associated with the loan itself. Common examples include:
- Loan Application or Establishment Fees: Charged by your lender to process your mortgage paperwork.
- Valuation Fees: Covers the cost of assessing your property’s value for the loan.
- Settlement and Legal Fees: These may apply depending on your lender and conveyancer.
- Lenders Mortgage Insurance (LMI): If you borrow more than 80% of the property’s value, LMI protects the lender—not you—but can add thousands to your total loan cost.
- Discharge Fees: Payable when you refinance or pay off your loan early.
Understanding these early on can prevent unexpected expenses during your homebuying journey.
How a Mortgage Broker Helps You Plan Ahead
Working with an experienced mortgage broker takes the stress out of navigating all these costs. At Bendigo Mortgage Brokers, we help clients compare lenders, understand fees, and calculate their true borrowing power—so there are no financial surprises down the track.
Our team can also help you determine if you qualify for first home buyer exemptions, government incentives, or regional lending offers that can make property ownership more affordable. We take pride in guiding local buyers through every step, from pre-approval to settlement.
If you’re buying in Bendigo, Victoria or Australia and want to understand your total costs more clearly, chat with one of our home loan brokers today. We can also advise you of different stamp duty rates for all states!
Quick FAQs
When do you pay stamp duty in Victoria?
Usually at or within 30 days of settlement.
Can stamp duty be added to your home loan?
Not directly, but your broker can help structure your finances so the payment fits comfortably with your deposit and savings.
Do first home buyers pay stamp duty in Victoria?
If the property is valued at $600,000 or less, you’re likely exempt. For values up to $750,000, partial discounts apply.
Information in this article is current as of October 2025. Rates and concessions may change, so always check the State Revenue Office Victoria website or speak with your mortgage broker for the latest details.
