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The Victorian Opposition’s announcement that it would remove stamp duty for first-home buyers spending up to $1 million on a new or existing home if elected at next year’s state election, is a positive step towards improving home affordability,” says Steven Wojtkiw, HIA Victoria Deputy Executive Director.
“New home sales rose by 16.5 per cent in the month of April 2025, to its highest level in 12 months,” stated HIA Economist, Maurice Tapang.
The number of homes commencing construction in Australia is set to increase over the next few years, driven by strong population growth, low unemployment, and falling interest rates. However, long-term structural issues continue to pose risks to housing affordability and national supply targets, according to the latest outlook from the Housing Industry Association.
HIA has been calling loudly on the State Government to release more land for new housing, as it is a fundamental element in delivering new homes and supporting housing affordability.