Older homeowners would get a one-off stamp duty reprieve on their final home purchase under a property industry pitch to free up tens of thousands of under-utilised family homes across Melbourne.
In a submission to the state government’s Plan for Victoria review, the Property Council of Australia has argued home buyers older than 60 and wanting to downsize should be exempt from paying stamp duty under a last home buyer concession.
Under the plan, the exemption would be a one-time benefit, meaning any subsequent transactions would be subject to stamp duty.
The Property Council is also calling for a major overhaul of Victorian strata title laws, which cover properties such as apartment blocks that have multiple owners. Strata-titled properties can currently only be sold in Victoria if all the owners agree.
From Domain:
Melbourne property is so much cheaper than Sydney’s, families relocate to save millions
The median price of Melbourne houses is now $1,039,460, according to Domain, compared to $1,645,444 for a house in Sydney. Units are similarly much cheaper in the south, with a median of $577,405 compared to Sydney’s $812,863.
“The number of people coming from Sydney to Melbourne is ever-increasing,” says Jacob Caine, the president of the Real Estate Institute of Victoria. “It’s about prices and a lower cost of living here, but it’s also about amenity and lifestyle.
Works on the southern hemisphere’s tallest building has been given the green light by council to begin on the Gold Coast early next year.
— 10 News Queensland (@10NewsQLD) October 27, 2025
The tallest half of the tower will be 101 levels with almost 200 apartments, including a luxury three story penthouse, and the other side… pic.twitter.com/qKDBPpYNGy
One Park Lane: 101-storey two tower development approved for Gold Coast’s Southport
Construction of the southern hemisphere’s tallest tower will begin on the Gold Coast in early 2026 after the 101-storey mega project was given the green light.
The $700m One Park Lane project, which will feature a 101-storey residential supertower and a 60-level commercial tower, was approved by the Gold Coast City Council late on Friday afternoon.
Hmmm, will probably sway something shocking with a solid North-easter/Cyclone. Have they taken notes from the 432 Park Avenue tower in New York City?
There is a related report on ABC’s 7.30 tonight.