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V-Star Properties

Land

Parcels, plots and acreage

Land is bought on different terms to a house. No floor area, no fixtures, and its own stamp duty schedule that exempts the first $450,000. Residential, agricultural and investment land across the South and Central belts.

22 parcels on the books

Buying land is not buying a house

A parcel with no dwelling on it is exempt from stamp duty up to $450,000, then charged at 2%, 5% and 7% as the price rises. That is a different schedule to a house and land, where the exemption runs to $850,000.

The first-time buyer relief that wipes out duty on a home up to $2,000,000 does not extend to a bare parcel, so budget for the duty from the start.

Before an offer, check the approvals. Town and Country planning permission, a current cadastral survey, and whether services reach the boundary decide what the land is actually worth.

Work out the duty on a parcel

Stamp duty, land only

Up to $450,000
Nil
$450,001 to $650,000
2%
$650,001 to $850,000
5%
Above $850,000
7%

Charged in slices: each rate applies only to the portion of the price inside its band. Rates published by the Board of Inland Revenue.

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