The WA Labor Government has wasted no time delivering on election commitments, with its first major housing policy now in effect to support Western Australians to purchase their own home and save them thousands.
- First election commitment from WA Labor Government delivered with increased stamp duty exemptions and concessions now in effect
- More support now available for people purchasing eligible homes, land, apartments and townhouses
- Changes mean first home buyers could save nearly $18,000 and benefit up to 22,000 buyers
- Will also save people purchasing new strata apartments or townhouses up to $15,000
The WA Labor Government has wasted no time delivering on election commitments, with its first major housing policy now in effect to support Western Australians to purchase their own home and save them thousands.
Effective from 21 March 2025, the following increased stamp duty exemptions and concessions for first home buyers will apply:
- for house purchases in Perth and Peel only, the stamp duty exemption threshold will increase from $450,000 to $500,000 and the concession threshold will increase from $600,000 to $700,000;
- for house purchases in regions outside Perth and Peel, the stamp duty exemption threshold will increase from $450,000 to $500,000 and the concession threshold will increase from $600,000 to $750,000; and
- for vacant land purchases Statewide, the stamp duty exemption threshold will increase from $300,000 to $350,000 and the stamp duty concession threshold will increase from $400,000 to $450,000.
It means Western Australians buying their first home won't pay any stamp duty on a house valued up to $500,000, saving them nearly $18,000.
They will also save money on stamp duty for homes valued up to $700,000 in Perth or Peel, or $750,000 outside those regions.
Additionally, first home buyers purchasing vacant land won't pay stamp duty on purchases up to $350,000, saving them almost $11,000, and will also save money on stamp duty for land valued up to $450,000.
Around 22,000 first home buyers are expected to benefit from these changes, with roughly 8,000 no longer paying any stamp duty when they buy established homes or vacant land.
In a further boost for homebuyers and the delivery of new multi-residential strata developments, stamp duty concessions for new off-the-plan homes purchased before or during construction will be expanded and extended.
Thresholds will be lifted by $100,000 for dwellings purchased before construction commences, meaning that no stamp duty will be paid for dwellings up to $750,000, tapering to a 50 per cent concession above $850,000.
For dwellings bought while under construction, a 75 per cent concession is available up to $750,000, tapering to a 37.5 per cent concession above $850,000.
These changes apply to apartments and also include townhouses on strata plans for the first time, helping to further boost housing density, increase housing choice and provide more options for seniors to downsize.
These expanded concessions will apply to off-the-plan purchases from 21 March 2025 until 30 June 2026.
Further information about the eligibility requirements and how to access these concessions can be found on the www.wa.gov.au website.
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Source: WA Government
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