Stamp duty rebate for off-the-plan apartments extended in WA

The extension of Western Australia’s stamp duty rebate for units sold off the plan will help increase the supply of apartments and attract investors back to the market, property sector stakeholders say.

The rebate for off-the-plan residential units and apartments was extended for another two years – at a reduced rate – at a cost of $26.2 million in the WA state budget, which included a record $875 million boost for social housing.

Property Council WA executive director Sandra Brewer said the extension of the stamp duty rebate for apartments sold off the plan would help mitigate the forecast decline in dwelling investment next year and also secure a pipeline of apartment construction.

“The rebate’s extension will increase apartment supply and help WA to maintain its affordability edge, which we know is important for people looking to move to WA,” Ms Brewer said.