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June 2022 Market Update
- 07/06/2022
Melbourne has roared back to life since being touted as the world’s most locked-down city. And so has its inner-city apartment market!
A host of government incentives remain in place until Thursday 30 June for purchasers, with apartment hunters able to save considerably on stamp duty for new homes. Among these potential savings include:
- A full stamp duty waiver for new residences priced up to $1 million that have been on the market for over 12 months
- A 50 per cent stamp duty concession for new properties priced up to $1 million that have been on the market for less than 12 months
These government incentives, coupled with our current Life & Style Edition buyer package, create unmissable savings whereby eligible purchasers at Melbourne Square can save as much as $120,000 on an apartment valued at $850,000, for example.
Select apartment stock still remains at our growing precinct, meaning property hunters can purchase, settle and move straight into their new city abode and enjoy an integrated precinct lifestyle supported by 14,000 square metres of private and public amenity.
While there is plenty to be optimistic about for the established property market, the construction sector continues to face a number of challenges fueled by supply chain issues, material shortages and a scarce skilled labour workforce. In conjunction with expectations for interest rates, this could drive further benefits for apartment owners and purchasers who are able to get in quick and secure built stock.
With city life continuing to return to normal, particularly with the reopening of Melbourne’s renowned hospitality scene and return of world-class events including the Grand Prix, Comedy Festival and AFL season, there has never been a better time to make the move into one of the city’s most exciting new lifestyle precincts.
To find out more about the purchaser savings available at Melbourne Square until Thursday 30 June, please reach out to our experienced sales team or book a private apartment inspection via this link.
