New economic figures have highlighted the massive benefit of the Rockliff Liberal Government’s Strong Plan to stamp out stamp duty.

A new joint PropTrack-e61 Institute report shows Tasmanian homebuyers are paying tens of thousands more in stamp duty now than they were in the 1980s.

The report shows Hobart homebuyers purchasing a median priced property, about $657,000, will need to save $24,900 for stamp duty.

This is the equivalent of 3.6 months of average full-time post-tax income.

That’s six-times higher than it was in the early-to-mid 1980s when the tax was equivalent to $900 or 0.6 months of income.

Under the Liberal’s 2030 Strong Plan for Tasmania’s Future, stamp duty will be stamped out for first home-buyers purchasing existing houses, units and apartments valued at up to $750,000.

The plan will save first home buyers up to $28,900 making it easier for around 1500 young Tasmanians to get into the property market.

Our plan will ensure first home-buyers can actually live out the great Australian dream of having their own slice of Tasmania.