REIWA welcomes increase to stamp duty thresholds for first home buyers

REIWA CEO Cath Hart has welcomed the WA Government’s announcement of increased stamp duty thresholds for first home buyers.  

“REIWA has consistently been advocating for an increase to the stamp duty thresholds for first home buyers,” Ms Hart said. 

“Strong population growth and low building completions have seen the WA property market experience sustained price growth over recent years. 

“Not only are first home buyers having to pay more for a home, the strong increase in prices has meant many were no longer eligible for the existing stamp duty concessions. 

“We know stamp duty is a current concern for Western Australians. A Housing Issues Survey on reiwa.com received nearly 15,000 responses, with 63 per cent indicating stamp duty was a significant barrier to home ownership. 

“These changes will see significant savings for many first home buyers, helping them make the move to home ownership, and be welcomed by the community.” 

From 21 March 2025*, the following stamp duty exemptions and concessions for first home buyers will apply: 

• For first home buyers in 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 $700,000; 
• For first home buyers in the regions, 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. 

First home buyers purchasing a home valued up to $500,000 will save nearly $18,000.

Ms Hart said REIWA also welcomed the changes to stamp duty concessions for off-the-plan homes purchased either before or during construction. 

The changes apply to apartments and, for the first time, will also include townhouses on strata plans. 

“No stamp duty will be paid for new dwellings up to $750,000 (up from $650,000), tapering to a 50 per cent concession for purchases over $850,000 (up from $750,000),” Ms Hart said. 

“For dwellings under construction, a 75 per cent concession is available up to $750,000, tapering to a 37.5 per cent concession for dwellings valued over $850,000. 

“These changes will make off-the-plan or under construction apartment and townhouse purchases more affordable. It will also help support much needed new high and medium density developments.” 

*Note: the legislation needs to be introduced to Parliament before it can apply. For now, first home buyers will need to pay the current stamp duty requirements. Once the legislation is passed and implemented, eligible first home buyers can apply for a refund.