Property Council lauds “big bold” measures in Victorian State Budget

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Retirees are among the winners in the Budget delivered last week, according to the Property Council of Australia’s Victorian interim executive director, Matthew Kandelaars.

Victorian Premier Daniel Andrews announced a range of items last week, which include stamp duty waivers on new and existing properties with a value of up to $1 million.

Mr Kandelaars says this is an unprecedented response to one of the worst economic chapters in Victoria’s history, and that the industry welcomes the push for recovery.

“Today’s stamp duty waivers will have an immediate and positive effect for first home buyers, young families and retirees,” Mr Kandelaars added.

The industry body had called for bold action from Government prior to the budget.

“Stimulating the construction of new homes, apartments and retirement living units is one of the most powerful ways to create new jobs and pull Victoria out of recession,” Mr Kandelaars in a pre-budget statement.