REIWA renews calls for changes to WA’s ‘irrelevant’ stamp duty taxes for first homebuyers as prices surge

Western Australia’s peak real estate body has renewed calls for changes to WA’s stamp duty taxes, saying the current concessions for first home buyers were no longer relevant. Ahead of the May 7 State Budget, REIWA boss Suzanne Brown told The Sunday Times that stamp duty exemptions announced by the WA Government last year were outdated, as the median house price in greater Perth has now skyrocketed to $870,000. “Strong price growth has eroded the relevance of the (stamp duty) thresholds,” Ms Brown said. “At the end of February, the Greater Perth median house sale price was $870,000 — recording 13.7 per cent growth since February 2025. “The median unit sale price rose 20.4 per cent to $620,000 over the same period.” Currently, first home buyers pay no stamp duty on properties worth $500,000 or less, with a concessional rate paid for homes up to $700,000. But the REIWA median house price figures show that properties under $500,000 are as rare as hens’ teeth. According to REIWA, as of last month, only 5.9 per cent of dwelling sales in Greater Perth were below the $500,000 stamp duty no-payment threshold. In the same period, just 28.5 per cent of all dwellings sold in Greater Perth were below $700,000. “As a result of strong property-price growth, very few first home buyers will have been able to claim the full stamp duty concession, with a limited number receiving a partial concession,” Ms Brown said. “Strong price growth is forecast for the Perth property market again this year, further impacting first home buyers. “In a 2025 Housing Issues Survey conducted on reiwa.com, 63 per cent of respondents said stamp duty was a significant barrier to home ownership. “Increasing the stamp duty thresholds will provide some financial support to first home buyers trying to enter the market.” For first home buyers, they are not only having to contend with raising tens of thousands of dollars for deposits — and then about $30,000 in stamp duty charges and other expenses — but they are also having to compete with investors for second and third home buyers for limited stock. There are currently just 3294 houses for sale in Greater Perth. The median time for houses to sell was eight days, and seven days for units. The Cook Government recently announced changes to extend concessions for off-the-plan purchases of strata dwellings. The Sunday Times understands relaxing stamp duty thresholds for first home buyers is one of several measures being considered for this year’s Budget. But it’s understood Treasurer Rita Saffioti is baulking at the measure, concerned about the hit to the bottom line of her third Budget. In a recent interview with The Sunday Times, Ms Saffioti wouldn’t be drawn on whether stamp duty concessions for first homeowners might be improved this Budget. “I’m not ruling anything in or out — because the focus (of this Budget) will be housing supply,” Ms Saffioti said.