In 2017-18, 34 first-home buyers in Ararat Rural City did not pay stamp duty. 

This was in comparison to 25 first-home buyers who paid a concession on their stamp duty in 2016-17. 

First-home buyers in the Northern Grampians shire also increased.  

In 2017-18, 53 first-home buyers did not pay stamp duty in the Northern Grampians. 

In comparison, 24 first-home buyers paid a concession on their stamp duty in 2016-17. 

The state government’s changes to stamp duty and the First Home Owner Grant came into effect on July 1, 2017. 

Under the changes, first-home buyers are exempt from paying stamp duty for houses worth less then $600,000. 

The changes also saw the grant increase from $10,000 to $20,000 for new homes built in regional Victoria that are worth up to $750,000. 

Ararat Ballarat Real Estate sales consultant Brad Jensen said there were various reasons behind the increase in first-home buyers. 

“Interest rates are low at the moment and the median house price is low at $195,000 in Ararat,” he said.

“There’s also a shortage of rental properties, which might entice younger ones to buy.” 

Data from the Real Estate Institute of Victoria shows the price of rental properties increased by 18.6 per cent in the Northern Grampians shire in the past year. 

Mr Jensen said rental returns in Ararat were good.

Monaghans Real Estate licensed estate agent Matt Monaghan said 21 per cent of their sales in the 2017-18 financial year were to first-home buyers. 

“Last financial year was a record year for Monaghans Real Estate,” he said. 

“We sold more property then ever before.

“Talk of things happening in Stawell such as Stawell Gold Mine, Bulgana Wind Farm, Nectar Farms, the dual highway and the Stawell Underground Physics Laboratory has led to rise in confidence in the area.” 

Mr Monaghan said the market was oversupplied with houses three to four years ago, but he said more recently the number of houses for sale had reduced. 

“Houses in lower prices are getting scarcer,” he said.