The WA Labor Government announced 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 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
 

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.
 

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 wa.gov.au

*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.