In a significant move to tackle housing affordability, the Western Australian government has announced sweeping changes to stamp duty concessions for first-home buyers and off-the-plan property purchasers.
These reforms, introduced into Parliament on April 9, will apply to transactions entered into from March 21 and are expected to benefit around 22,000 buyers over the next four years.
The changes include increased thresholds for properties and land eligible for concessional duty rates, as well as a broader application of the off-the-plan concession to a wider range of housing types, including townhouses and villas.
Under the revised First Home Owner Rate of Duty, eligible buyers will pay no duty on homes valued up to $500,000, an increase from the previous $450,000 threshold.
For homes valued between $500,000 and $700,000 in Perth and Peel, and up to $750,000 in regional areas, buyers will benefit from a reduced rate of duty.
“This legislation will support thousands of first-home buyers across our state over the next few years,” Premier Roger Cook (pictured left) said. “Helping more first-home buyers into the market through our stamp duty reforms is a key priority for my government.”
For vacant land purchases, no duty will apply to land valued up to $350,000, with reduced rates for land priced between $350,000 and $450,000.
According to Treasurer Rita Saffioti (pictured center), the changes could save eligible first-home buyers up to $18,000, while simultaneously encouraging land purchases that help drive new housing supply.
The off-the-plan stamp duty concession, previously set to expire in June 2025, will now run until June 30, 2026, with significantly enhanced thresholds:
Importantly, the eligibility has been widened to include single-tier strata dwellings and community titles, allowing buyers of townhouses and villas to now access the same support. The only exclusion is for dwellings built on survey-strata plans.
Finance Minister David Michael (pictured right) said the change would “further boost housing density, increase housing choice and provide more options for seniors to downsize.”
With WA’s population growing at the fastest pace in the country, demand for housing has surged. The government said these stamp duty reforms will provide much-needed support to first-home buyers trying to enter the market.
“Housing supply and affordability is one of our top priorities, which is why this legislation is being prioritised,” Saffioti said. “We want to deliver on our commitment to make housing more affordable for first homebuyers as soon as possible.”
The reforms are part of a broader $4.5 billion package of housing initiatives led by the Cook government.
RevenueWA is expected to update its systems by early May for the first-home owner rate and by late June for off-the-plan changes. Buyers who settle before these updates are in place may still receive the new benefits through a post-settlement reassessment and refund process.
For full eligibility criteria and updated duty calculators, visit wa.gov.au.
The reforms mark a major step in supporting homeownership across Western Australia while addressing housing supply challenges with targeted, inclusive policy changes.
