Money magazine Comments - Victoria axes stamp duty for first home buyers Other state governments, in particular NSW, will be watching Victoria closely to see whether this initiative will have the reverse effect by increasing demand for housing when supply simply can't keep pace. https://www.moneymag.com.au/feed/latest?story=141413659 Wed, 08 Mar 2017 15:58:28 +1100 Wed, 08 Mar 2017 15:58:28 +1100 en-AU Copyright 2026 Money magazine 5 Money magazine Comments - Victoria axes stamp duty for first home buyers https://media.moneymag.com.au/prod/media/library/Money_Mag/Logo/Logo_401x133.png Comment by Anusha ()

Sadly, my problem is not with building a deposit. We can save $1500-2000 every month, but being a single income family with a modest income and having two kids, the lenders are not willing to lend me more than 290k. To build a reasonable house even 50km from the Melbourne CBD, you need more than a total of 400k.

I just cannot believe that people who can easily service a large loan, cannot save up a decent deposit.

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]]> Anusha () Wed, 08 Mar 2017 15:58:28 +1100 Comment by Ben Kingsley ()

Keep saving Anusha, because when the kids are older and you can get a second income coming it, you will have a really good deposit and the borrowing power needed to get that smaller loan. And who knows - maybe property prices might just cool off a bit too?

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]]> Ben Kingsley () Wed, 08 Mar 2017 20:44:22 +1100 Comment by Mike Potter ()

U can consider mortgage insurance

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]]> Mike Potter () Wed, 08 Mar 2017 23:21:08 +1100