Changes to First Home Ownership and Off-the-Plan Concessions in WA

The Western Australian government has recently updated the policies affecting first home buyers and those purchasing off-the-plan properties, with significant changes designed to make home ownership more accessible. These amendments, effective from 21 March 2025, reflect the government’s commitment to supporting first-time homebuyers and stimulating the housing market.

Key Changes to First Home Owner Rate of Duty

The threshold for the first home owner rate of duty has been raised to benefit more buyers:

• Vacant land purchase threshold increased to $450,000 from the previous $400,000, with a full duty exemption for land valued up to $350,000.
• For home purchases, the maximum value for no duty in the Perth Metropolitan and Peel regions is now $700,000 (previously $600,000), and $750,000 for properties outside these areas.

Expansion of Off-the-Plan Duty Concession

The off-the-plan duty concession has also undergone considerable expansion:

• The concession is extended to 30 June 2026, offering significant duty reductions for eligible transactions.
• It now covers all types of residential properties within strata and community title schemes, including townhouses and villas, enhancing buyer options.
• The concession threshold has been raised, with properties valued up to $750,000 now eligible for a full concession, increasing from the previous $650,000 limit.

These changes are expected to have a positive impact on the real estate market by making property ownership more affordable and accessible for first-time buyers and encouraging more transactions in off-the-plan purchases. It’s an opportune moment for potential buyers to reassess their options and possibly benefit from these adjustments.

For a more detailed breakdown of these changes, visit this page on the WA Government website.