Property Council ACT & Capital Region Executive Director Ashlee Berry said the changes to how stamp duty concessions apply – particularly for new homes – were a significant step forward in addressing long-standing barriers in the market.
"This reform reflects what we have been calling for – practical changes to stamp duty that remove barriers and help move homes through the market," Ms Berry said.
"We've been clear that the system has been getting in the way, with homes ready to go, buyers who want them, and settings that don't line up."
Ms Berry said improving the way stamp duty applies to new and completed homes would help level the playing field and ensure more existing supply can move more quickly.
"When you remove friction in the system, buyers can access homes that are already built, affordability improves at the margin, and developers can clear stock and get back into delivering the next round of projects," she said.
The Property Council said the outcome aligns with its pre-Budget calls to amend the definition of 'off the plan' under the Taxation Administration (Off the Plan Unit Duty Exemption Scheme) so stamp duty exemptions apply on the first transfer of ownership, rather than falling away once a unit's plan is registered.
"That was a practical reform we pushed for because it opens up a significant amount of stock to buyers who would otherwise miss out, even where apartments are brand new and have never been lived in," Ms Berry said.
"It helps unlock homes that are already built, improves affordability at the margin, and supports developers to move that stock and get on with the next round of projects."
The ACT Government today also announced broader stamp duty reforms, including abolishing stamp duty for first home buyers.
Ms Berry said while those measures would support home ownership, the most important outcome from an industry perspective was getting the settings right to support housing supply and delivery.
"In the ACT, government policy settings matter more than almost anywhere else in the country," Ms Berry said.
"That means Budget decisions on costs, infrastructure delivery and land release have a direct line of sight to how many homes get built.
"That is why this stamp duty change matters – because it addresses a real blockage in the market and helps get more completed homes into the hands of buyers."
The ACT Government also announced stamp duty relief for people purchasing new unit‑titled homes to live in and targeted support for pensioners, which Ms Berry said would support right‑sizing and improve housing flow across the market.
"Measures that help older Canberrans right-size and support new apartment purchases are critical to improving housing choice and freeing up existing stock for growing families," she said.
Ms Berry said today's Budget was also an opportunity to maintain broader settings that support feasibility, investment and delivery across the housing pipeline.
"We know that feasibility remains the key constraint on housing supply, with high construction costs and financing pressures continuing across the market," she said.
"The reforms announced today are exactly the kind of practical measures the ACT needs to keep housing moving," she said.
"The next step is to make sure the full set of Budget measures continues to support confidence, maintains workable cost settings, and keeps projects moving from approval through to construction."
