Stamp Duty Exemptions and Concessions
UDIA WA has welcomed the implementation of the State Government’s first election commitment to increase stamp duty exemptions and concessions for first home buyers. Designed to support more Western Australians purchase their own home, the following stamp duty exemptions and concessions came into effect on 21 March 2025:
- 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.
First home buyers will save nearly $18,000 under the updated stamp duty exemption threshold. Similarly, first home buyers will save around $11,000 on the purchase of vacant land up to the value of $350,000. The State government anticipates that around 22,000 first home buyers will benefit from the changes, with approximately 8,000 no longer paying any stamp duty.
Premier Roger Cook said, “these sensible changes will deliver real savings for Western Australians looking for their first home, helping to turn the dream of home ownership into reality for thousands of people each year.”
Additionally, to further support homebuyers and the delivery of new multi-residential strata developments, stamp duty concessions for new off-the-plan homes purchased before or during construction have also been expanded.
For dwellings purchased before commencing construction, the threshold for stamp duty has been lifted 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. To further help improve housing density, the changes to apartments also apply to townhouses on strata plans.
UDIA WA will continue to monitor the implementation of the State Government’s pre-election commitments and keep members informed.
Federal Budget Rundown
The Federal Government released a pre-election budget on Tuesday night that focused on the theme ‘repair, relief and reform’. With the Prime Minister expected to announce the election date as early as tomorrow, cost of living is a major priority on both sides of Parliament both in the budget, and in the Opposition’s response.
The seven key areas for this year’s budget, according to Treasurer Jim Chalmers are cost of living; health; housing; education; recovery and rebuild; economy; and opportunity & equality.
Headline Budget numbers:
- Deficit forecast for 2025-26: $42.8 billion
- Gross debt 2025-26: $1.02 trillion
- Real GDP growth 2025-26: 2.25%
- Unemployment rate 2025-26: 4.25%
- Inflation rate 2025-26: 3%
- Wage Growth 2025-26: 3.25%
Key points for all Australians:
- $17.1 billion in income tax cuts – the 16% tax rate will be cut by 1% next year and will be down to 14% the following year
- $1.8 billion Energy rebate – worth $150 per household starting 1 July 2025
- Student loans – debts will be cut by 20%
- $12.5 billion toward Medicare and other health related measures
The key budget initiatives relevant to the property industry include:
- an extra $17.1 billion over ten years for infrastructure projects including housing enablement programs, road, rail, upgrades and intersections that will support more housing – in WA specifically $350 million has been allocated to upgrades to Kwinana Freeway
- $54 million for prefabricated and modular housing investment for states and territories
- $120 million to incentivise states and territories to slash red tape for modern methods of construction
- $3 billion to complete the rollout of the National Broadband Network
- $800 million expanding the Help to Buy income thresholds so more Australians can own a home
- $4.9 million for the Regional Home Guarantee to increase home ownership
- $626.9 million to double incentive payments up to $10,000 for eligible apprentices training in the housing construction sector
- $5,000 priority hire payments to employers
- $1 billion to fund for crisis and transitional accommodation
UDIA has consistently championed strategies incorporating these initiatives, as the building blocks for increasing housing delivery and easing rents and prices.
Critically we also need more market-wide initiatives related to housing supply to reach the ambitious Housing Accord target of 1.2 million new homes over 5 years.
The Budget housing measures address the aims of the Housing Accord to deliver 1.2 million new homes over the 5 years from 2023-24. However, we need to quickly address housing roadblocks so we can get as close to the National Accord housing target of 1.2m dwellings.
UDIA’s Federal Election Campaign outlines in detail the measures we recommend for addressing the roadblocks to housing delivery across the nation.
View the Federal Budget Papers.
Read UDIA’s Federal Election Campaign.
5 ways Landnow is revolutionising land buying
LandNow is transforming land purchasing in Australia, making it as seamless as buying cars, travel, or music online. By centralising data, insights, and available land in one digital marketplace, it eliminates inefficiencies and uncertainty for buyers and sellers alike.
1. Access to Information
Before LandNow, buying land meant searching through fragmented listings with limited details. Now, buyers can access comprehensive property insights, including zoning, past transactions, soil conditions, and even virtual tours. This reduces risks such as purchasing flood-prone land or lots with hidden construction costs. Sellers, in turn, gain greater exposure to a wider audience.
2. Smart Search & Discovery
Finding the perfect lot no longer needs to be time-consuming. LandNow’s advanced search filters allow buyers to refine searches based on size, location, price, and intended use. Algorithms also highlight hidden opportunities, ensuring better decision-making.
3. One Central Marketplace
LandNow brings together buyers and sellers in one place, increasing market liquidity and competition. More sellers listing properties leads to more options for buyers, while sellers benefit from broader exposure and a faster, more cost-effective sale process.
4. Simplified Transactions
Land purchases are often complex, requiring legal paperwork, financing, and title verification. LandNow streamlines these steps by integrating essential services, reducing delays and making transactions smoother for all parties.
5. Enhanced Security & Trust
Security is critical in land deals. LandNow ensures safe transactions through escrow services and transparent deal histories, minimizing fraud risks and building trust among buyers and sellers.
By improving transparency, efficiency, and security, LandNow is redefining land buying in Australia. With ongoing technological advancements, expect even more innovations to simplify the process further.
🔗 Discover more at www.LandNow.au
Committees in action
This week the latest committee round kicked off with the Advocacy & Thought Leadership (A&TL) Strategic Committee meeting on Thursday 27 March.
Key topics of discussion included unpacking the outcomes and implications of the recent State Election, the development of UDIA WA’s 2025-26 pre-Budget Submission and policy positions, as well as ongoing advocacy activities around collaborative culture and streamlining planning and environmental approvals.
Bowling away with Outlook
Last night, UDIA WA kicked off its first Outlook event for the year with the return of the highly popular lawn bowls competition.
This year, we switched up the venue to South Perth Bowling Club, and 120 attendees enjoyed an evening of friendly yet fierce competition and took advantage of a great opportunity for catching up with industry colleagues.
Teams competed head-to-head over two exciting sessions, culminating in a very closely run grand final round!
Congratulations to the combined team from MNG, Jurovich Surveying, Woodsome Management, and Rowe Group for securing the top spot, with the first place prize generously donated by our Outlook Partner Parcel Property. A special shout out to Stantec for taking second place, with the runner-up prizes donated by our Outlook Partner, UPD.
Our thanks go to our Outlook Partners Parcel Property and UPD for supporting this event.
View photos of the competition.
WA population grows 3.1% in latest ABS data
The Australian Bureau of Statistics (ABS) have released the latest Regional Population data for the 2023-24 financial year. Capital cities across Australia experienced a growth of 2.4% increasing by 427,800 people. While Melbourne experienced the largest increase in number, Perth achieved the fastest population growth rate of 3.1%, increasing by 72,700 residents.
Perth and Brisbane were the only two capitals to experience growth driven by internal migration, while Perth had the third highest uptick in overseas migration behind Melbourne and Sydney.
Out on the northern edges of Perth, Alkimos and Brabham experienced the largest growth, with populations growing by 2,100 and 1,500 people respectively in the Eglinton and Henley Brook areas.
Look out for UDIA WA’s monthly Urban Intelligence Report, that will analyse all the latest economic and property related data (including population figures) released to UDIA WA members this Friday!