REIWA has welcomed the amendments to the WA Government's scheme offering stamp duty concessions for off-the-plan and under construction dwellings.
"This scheme has the potential to boost housing supply, particularly diverse and affordable housing options. It can also make home ownership more achievable, by reducing the costs associated with buying a property," REIWA President Suzanne Brown said.
"It was due to end on 30 June, and REIWA's Pre-budget Submission recommended the scheme be extended.
"We are pleased to see the scheme being extended to 30 June 2028, along with an increase to the thresholds, which reflects growing costs to build new properties."
Ms Brown said REIWA particularly commended the inclusion of more medium-density dwellings in the scheme.
"This scheme was initially aimed at boosting apartment construction, however for a range of reasons, apartment construction has struggled in recent years," she said.
"In addition, REIWA data suggests WA buyers have a strong preference for medium-density living over high density living, with villas, townhouses and home units outperforming apartments for price growth and speed of sale.
"Last year, the scheme expanded to include townhouses. This year, the Government has included dwellings in a survey strata scheme, including duplexes, triplexes, villas and units.
"This makes more types of property eligible for stamp duty concessions, which will support urban infill."
Ms Brown said the inclusion of a greater range of medium-density dwellings could help more people into home ownership or those looking to downsize.
"This scheme isn't just for first home buyers," she said.
"There are many people out there who have exited home ownership who are struggling to get back into the market who may benefit from these changes.
"When it comes to downsizers, 63 per cent of respondents to a 2025 Housing Issues Survey on reiwa.com reported stamp duty was a significant barrier to downsizing.
"For many potential downsizers, the prospect of paying tens of thousands of dollars in upfront transaction costs is a clear deterrent and the alternative is to remain where they are.
"In addition, feedback from downsizers is they would like to stay in their local area, but there is a lack of suitable homes. Anecdotally, many indicate they would prefer medium-density options, such as villas and townhouses, rather than apartments.
"Our Pre-budget Submission called for a $10,000 stamp duty concession for downsizers, whether they build new or buy established.
"While this wasn't the outcome we were seeking, we acknowledged the potential benefits to downsizers who choose to build a new home."
Thresholds for concession assistance will be increased from $750,000 and $850,000 to $800,000 and $900,000 respectively.
No stamp duty will be paid for dwellings purchased off-the-plan up to $800,000, tapering to a 50 per cent concession above $900,000.
For dwellings bought while under construction, a 75 per cent concession is available up to $800,000, tapering to a 37.5 per cent concession above $900,000.
For an $800,000 property, buyers will now save more than $32,300 if they buy pre-construction or more than $24,200 if they buy while the property is under construction.
The changes take effect from 12 March 2026.
