Home buyers can save as much as $32,300 on off-the-plan duplex and triplex homes in Western Australia for the first time under new stamp duty discounts aimed at downsizers.
The Western Australian government has expanded its stamp duty discounts to survey-strata dwellings, which include duplexes and triplexes, if they are purchased off-the-plan or under construction.
It means all home buyers in WA can now avoid paying stamp duty on apartments, villas, townhouses and units if bought off-the-plan or while under construction.
It comes as the state government tries to encourage buyers to build a new home rather than purchase an existing property, increasing housing supply as home prices soar in the state.
The median home price in Perth soared 19.5% to $987,000 during the year to February – the strongest annual growth of any capital city in the country - while home prices in regional WA have jumped 14.9% to $622,000, according to the latest PropTrack Home Price Index.
Over the past five years Perth’s median home price has doubled, skyrocketing 98.3%, while regional WA home prices have surged 95.2%.
WA treasurer Rita Saffioti said by expanding stamp duty concessions to more homes, they were providing greater choice to buyers and making homeownership more affordable.
Duplexes are residential buildings containing two separate homes, typically sharing a common central wall. Picture: realestate.com.au/buy
"This means older Western Australians looking to downsize can save thousands when buying a new apartment, townhouse, villa, or unit off-the-plan or under construction,” Ms Saffioti said.
"We are committed to ensuring every Western Australian has access to a quality home and supporting the delivery of more infill developments is key to our state's housing future."
Stamp duty concessions are normally targeted at first-home buyers, but state governments are increasingly opening up discounts to the general public and targeting them at new home building.
Governments are also trying to encourage downsizers to move out of larger family houses and into smaller homes once their kids have moved out, freeing up these houses for growing families.
The median home price in Perth soared 19.5% to $987,000 during the year to February. Picture: Getty
The 2025 realestate.com.au GemLife Downsizing Australia report found more than four in five (85%) people aged 55 and older lived in homes with two or more spare bedrooms in Australia.
The report, which surveyed 2,051 buyers nationwide last year, also showed that one-quarter of households aged 25-54 years old had no spare rooms, while 5% had too few rooms for the size of their family.
REA Group executive manager of economics Angus Moore said Australia’s population was aging, with more than one-third to be aged 55 or older by 2050.
“As our demographic make up changes, so too will the types of housing we need,” Mr Moore said.
“Older households are smaller, but much of our existing housing stock and the housing we build is still large, detached homes that may be better suited towards larger family households.
WA buyers can save on stamp duty if they buy apartments, units, duplexes and other homes off-the-plan or under construction. Picture: Getty
“Encouraging older and smaller households to downsize will be critical for ensuring we meet the needs of our aging population and use the housing we currently have more efficiently.”
In addition to the duplexes and triplexes, the state government increased the concession thresholds by a further $50,000.
Under the increased thresholds, no stamp duty will be paid for dwellings purchased off-the plan worth up to $800,000 - previously $750,000 - and tapering to a 50% concession above $900,000 (previously $850,000).
For dwellings bought while under construction, a 75% concession is available up to $800,000 - previously $750,000 - tapering to a 37.5% concession above $900,000 (previously $850,000).
For an $800,000 property, buyers will 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 state government has invested $70.6 million to expand the stamp duty discount for off-the-plan and under construction multi-residential homes, as well as extending it until 30 June 2028.
Victoria and Tasmania have also offered stamp duty concessions for off-the-plan and under construction homes (excluding houses) to the general public. The re-elected South Australian government also promised stamp duty discounts for downsizers at the recent state election.
Home building approvals in Western Australia rose 13.2% to 24,544 during the year to January, compared to the previous 12 months, according to seasonally adjusted figures from the Australian Bureau of Statistics.
However, there are fears that rising interest rates and increasing fuel prices will drive construction costs higher amid the country’s home building recovery.
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