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The Victorian government will extend its stamp duty concessions for off-the-plan properties by another 12 months, as part of next week’s state budget.

The premier, Jacinta Allan, will today announce $61m to continue the concessions for off-the-plan apartments, townhouses and units until October 2026.

Young people can’t afford homes in a housing crisis, and I’m on their side. That’s why we’re slashing stamp duty for off-the-plan units and townhouses – to build more homes and make them cheaper to buy.

This isn’t just great news for homebuyers trying to get into the market. It’s also a huge win for homebuilders.