'It's gone': ACT government says it will abolish stamp duty for first home buyers

The Australian Capital Territory (ACT) government is set to eliminate stamp duty for all individuals purchasing their first home. This initiative aims to make homeownership more accessible for those entering the property market. The move positions the ACT as the first Australian jurisdiction to implement such a broad policy for first-time buyers.

This policy change could significantly reduce the upfront costs associated with buying a first home, potentially stimulating the housing market and making property ownership more attainable for a wider range of residents.