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Property News

First time buyers benefit from WA State Budget

May 21, 2012

First time buyers hoping to get on the property ladder in Western Australia can continue to benefit from a stamp duty concession under plans announced in the State Budget.

Responding to the measures, president of the Real Estate Institute of Western Australia (REIWA) David Airey welcomed the move, as it had so far remained important to the property market.

The stamp duty concession has been successful at keeping homebuyers at around 25 to 75 per cent of the market over the past year, he explained.

"The importance of the stamp duty concession for first homebuyers in the modest market recovery currently being experienced cannot be underestimated," Mr Airey emphasised.

The REIWA president highlighted that Perth's property market in particular is currently under threat from a growing population and low vacancy rates.

Other measures outlined in the State Budget include improved provisions for children and families, as $58.5 million will be invested in early childhood health care over the next four years.

This follows on from recent efforts to recruit more staff in the fields of physiotherapy, speech pathology and occupational therapy to improve conditions for families.

 



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