On a A$1M established Melbourne house with no concessions, stamp duty is roughly A$55,000. First-home buyers pay zero under A$600k and a sliding concession to A$750k. Foreign buyers pay an extra 8% surcharge. Always verify the live calculator on sro.vic.gov.au before signing.
Stamp duty (officially "land transfer duty" in Victoria) is the single largest transaction tax on a Melbourne property purchase. The amount depends on price, buyer status (first-home / owner-occupier / investor / foreign), and whether the property is established or off-the-plan.
Indicative rates on a standard owner-occupier purchase in 2025 (sourced from State Revenue Office Victoria, sro.vic.gov.au): under A$25k pays a flat 1.4%; A$130k–A$960k pays roughly A$2,870 + 6% of value above A$130k; over A$960k pays approximately 5.5% on the full price. On a A$1M established house, that works out to about A$55,000. On a typical A$1.4M Box Hill / Glen Waverley / Bentleigh family home, around A$77,000. On a A$2.5M Balwyn / Canterbury house, around A$137,500.
First-home buyers: full exemption on purchases under A$600k (so a A$590k unit pays zero), sliding concession from A$600k to A$750k, no concession above A$750k. The buyer must occupy the home as their primary place of residence for at least 12 consecutive months within the first year of settlement.
Foreign buyers (FIRB-approved purchases): an additional 8% Foreign Purchaser Additional Duty stacks on top of the standard rate. On a A$1M house, that's an extra A$80,000 — typically the deal-breaker that pushes foreign buyers into new-build off-the-plan stock where some concessions still apply.
Off-the-plan stamp duty concession: applies in narrow circumstances — generally when the contract is signed before construction starts and the property qualifies as the buyer's principal place of residence. It can substantially reduce duty by allowing the dutiable value to exclude construction-yet-to-occur. The rules tightened in 2017 and again in 2021 — verify current eligibility with a conveyancer, not the Hyperlocal page.
Hyperlocal does not provide legal or tax advice. The numbers above are summarised from SRO's published guidance as a starting point for your research. Always verify with the SRO or a conveyancer — rules change, sometimes mid-financial-year, and the savings on a correct calculation are usually worth the consult fee.
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Box Hill Central + hospital + TAFE anchor daytime buzz year-round
Glen Waverley Secondary zone drives a 15–20% premium vs neighbours
Frankston line + Centre Rd shopping; McKinnon Secondary zone the real draw
Balwyn High zone: houses inside boundary trade at 15–25% premium to outside
Pop grew ~15%/yr last 3 yrs; under-35 family demographic anchor
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