Big stamp duty discount for Perth apartments

What does this mean for Perth property buyers?

The Perth market has already been showing positive signs of recovery. During November, prices rose by 0.4 per cent in the Greater Perth region, with a median value of $470,000 for houses and $335,000 for units.

The “Diversify WA” employment plan, led by the government and creating 150,000 jobs, was launched this year, the rapid development of electric vehicles globally has brought strong demand for lithium;– and the vacancy rate has decreased dramatically, making Perth a significantly tighter rental market than Sydney.

Further, Perth has recently been reclassified as a regional area this year, which will increase its appeal for overseas migrants looking to expedite their permanent residency applications and thus positively stimulate population growth.

“The new stamp duty rebate is a substantial incentive for buyers to upsize, downsize or invest and is expected to boost demand, and further contribute to jobs growth in the region,” said Ironfish Head of Property, William Mitchell.

“For foreign buyers especially, there is a significant saving on offer, which makes Perth an attractive Australian city in which to invest.”

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