First home buyer guide to Melbourne CBD

Melbourne 3000 is where many first home buyers in Victoria start looking at apartments. This guide covers the concessions, grants, catchments, and mapping tools you can use to check any CBD address yourself. Every number below links to an authoritative public source. Talk to a licensed broker and a local real estate agent before you act on any of it.

First home buyer stamp duty in Victoria

Under the State Revenue Office rules, a first home buyer pays no land transfer duty on a home with a dutiable value up to $600,000. Between $600,001 and $750,000 a concession applies on a sliding scale. Above $750,000 the standard (non-PPR) rate applies in full.

For reference, the SRO current rates table puts the standard duty on an $800,000 purchase at approximately $43,070. The concession is also tied to occupancy: you must live in the home as your principal place of residence for at least 12 months, starting within 12 months of settlement.

Sources: SRO first home buyer duty exemption or concession and SRO current rates (non-PPR). Run your own figure on the stamp duty calculator.

First Home Owner Grant

The Victorian First Home Owner Grant is a $10,000 payment for eligible first home buyers buying or building a new or never-occupied home valued up to $750,000. Established apartments on the resale market do not qualify. A new off-the-plan apartment may qualify if it meets the criteria.

Source: SRO First Home Owner Grant.

Temporary off-the-plan duty concession

Victoria is running a temporary off-the-plan duty concession for eligible strata apartments and townhouses. It applies to contracts signed between 21 October 2024 and 20 October 2026. The concession reduces dutiable value by the construction and refurbishment costs remaining at contract date. The temporary concession has broader eligibility than the permanent concession and has been extended once already.

Source: SRO temporary off-the-plan duty concession.

School catchments

Victorian school catchments are published by the Department of Education. Enter the address on findmyschool.vic.gov.au, select the enrolment year, and the tool returns the designated neighbourhood government school for primary and secondary, along with the boundary map. Catchments are reviewed each year, so check for each specific address.

Flood mapping

Melbourne Water publishes a flood property report for any address in its service area. It shows overland flow and applicable planning scheme flood overlays. Request one for any CBD address before you sign a contract, particularly for ground floor and basement apartments.

Source: Melbourne Water.

Cladding

Cladding Safety Victoria maintains a register of residential buildings assessed for flammable cladding. If you are buying in a mid or high rise, check whether the building has been assessed and, if remediation works are in progress, whether a special levy has been struck.

Source: Cladding Safety Victoria.

Water utility

Water and sewerage services for the Melbourne CBD are provided by Greater Western Water, which was formed in 2021 by the merger of City West Water and Western Water.

Source: Greater Western Water.

What to check before you bid

• Owners corporation minutes for the last three years.
• Building insurance certificate of currency.
• Cladding status on the Cladding Safety Victoria register.
• Short-stay letting rules in the owners corporation by-laws.
• The Section 32 vendor statement, including the planning certificate and any flood, heritage, or height overlays.
• A Melbourne Water flood property report for the address.

This page is general information compiled from public Victorian government sources. It is not financial or legal advice. Thresholds and concessions change. Before making a decision, confirm the current rules with the State Revenue Office, speak to a licensed mortgage broker, and engage a conveyancer or solicitor.