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“Victorian home buyers already pay a range of taxes when they buy a new home, contributing half of Victoria’s tax revenue now.
“In Melbourne 38% of the cost of building a new home is made up of taxes, fees and charges. This new tax would have seen land and house prices being pushed further out of reach of new home buyers.
“It was bad policy that likely would have seen young Victorians join an ever-growing queue for social housing, rather than helping them.
“The fact this tax was announced and then abandoned within 10 days demonstrates that this Government has no clear strategy or policy on housing affordability.
“The Government is also proposing a Windfall Gains Tax which could see new home buyers in regional Victoria having to pay up to $53,000 extra. This is only a windfall for the Victorian Government and will significantly increase the cost of new homes in Victoria.
“We would urge the State Government to take a deep breath, step back and consult with those Victorians who are most impacted by additional taxes on housing and the higher prices this generates.”
The Courier Mail described the budget as being as bland as the chive and onion muffins served to those who ventured into the budget lock down but concluded while the budget was hard to love it was also hard to hate.
The new Buyer Protection laws will start on Wednesday, 1 July 2026 after an extraordinarily challenging process with numerous last-minute changes. HIA is providing this Member Alert to help members navigate the key ‘need to know’ on these new laws, with more detailed material to follow.
The Tasmanian Parliament has passed the First Home Owner Grant Amendment Bill 2026, confirming a $20,000 grant for eligible first home buyers who contract to build a new home.
HIA is concerned about proposals to construct data centres on land earmarked for housing development.