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Two quick sums for anyone buying in Victoria: what the state will charge you in duty, and what a loan would cost each month. Both update as you type.
Land transfer duty (stamp duty)
Victorian land transfer duty at the general rate, on the dutiable value of the property.
The dutiable value — usually the contract price.
Land transfer duty (Victoria)
$40,070
About 5.34% of the purchase price.
This is the general rate only. It does not account for the principal place of residence concession, first home buyer exemptions and concessions, the off-the-plan concession, pensioner and concession card exemptions, or foreign purchaser additional duty. Several of these change the figure substantially, and most buyers qualify for at least one — so treat the number above as a ceiling, not a quote. The State Revenue Office is the authority, and its own calculator handles the concessions.
Rates as at . Duty scales change at state budget time — check the SRO before relying on this.
Home loan repayments
Monthly repayment on a standard principal-and-interest loan, and what it adds up to over the full term.
Monthly repayment
$3,597.30
Total interest
$695,029
Over the full term, if the rate never changes.
Total repaid
$1,295,029
Principal plus interest.
Assumes a fixed rate for the life of the loan and no fees, offset account or extra repayments — none of which is how a real loan behaves. Use it to compare scenarios against each other, not to predict a lender's figure.
Mortgage duty
There is no mortgage duty to calculate. Victoria abolished duty on mortgages in 2004, and the last Australian jurisdiction to charge it stopped in 2016. If you have seen a mortgage stamp duty figure quoted on a property website, it is a charge that no longer exists.
You will still pay a mortgage registration fee and a land transfer registration fee to Land Use Victoria. Both are small, both are set annually, and your conveyancer will have the current figures.
Before you rely on any of this
These calculators are a guide, not financial or legal advice, and Bell Real Estate is not a licensed credit or financial adviser. Costs vary with your circumstances — talk to your conveyancer, your lender and the State Revenue Office before you commit to anything. Our buying advice page covers the other costs a purchase carries.