Mirvac’s latest Victorian releases target first-home buyers with $10,000 sweetener in June

Mirvac threw in in an extra $10,000 sweetener to attract first-home buyers to some of its offerings before the Victorian government’s first-home bonus expires tomorrow, June 30.

The latest release of homes in the master-planned Harcrest and Waverley Park developments, called Terrace Homes, come with a $10,000 Visa cash card.

The homes launched in early June, and about 30% are sold so far. Until tomorrow, first-home buyers who buy a property under $600,000 will be entitled to a $13,000 bonus from the Victorian governmnent. From this Sunday, first-home buyers will be entitled to a 20% reduction in stamp duty on homes under $600,000. For a home costing $600,000, this equates to a stamp duty savings of $6,214, less than half what a first-home buyer would secure from the first-home bonus.

The three-bedroom Terrace Homes start from $505,000 and are aimed at the first-home buyer market.

“We understand many young couples and families are struggling to buy their first home, juggling things like rising utility bills, school fees and food costs. With the first-home owner grant coming to an end on 30 June, the Terrace Homes offer Mirvac’s signature quality finishes at an affordable price point, meaning more families are now able to buy their own home,” says Matthew Wallace, Mirvac CEO of masterplanned communities.

Harcrest is in the outer-Melbourne suburb of Wantirna South, about 30 kilometres east of Melbourne CBD, and Waverley Park is in the south-eastern Melbourne suburb of Mulgrave, about 25 kilometres from the CBD.