First homebuyers benefit from more than $213million in grants and stamp duty relief

18/1/08
First homebuyers in Western Australia are reaping the benefits of the nation's most generous concessions with the State Government allocating more than $213million in grants and stamp duty relief over 2007.
Treasurer Eric Ripper, who in the last State Budget announced stamp duty exemptions for first homebuyers purchasing properties up to $500,000, said the increase in assistance had been dramatic.
"This is great news for anyone setting out to buy their first home and these figures show the Government's commitment to the most generous stamp duty concessions in the nation is working," Mr Ripper said.
"Figures just released by the Department of Treasury and Finance show a 43 per cent increase in 2007 above the 2006 figure of $149.1million."
The Treasurer said the total package comprised $99.6million in first home owner grants paid to 14,481 applicants, along with stamp duty exemptions worth $113.8million on 10,143 transactions.
"The Government recognises that our rapidly growing economy has seen house prices rise and is committed to helping young people get into a first home," he said.
"This assistance is just a part of our broader plan to reinvest every single cent of the benefits of our growing economy into securing the future for the State and our children."
Mr Ripper said the figures also showed that most of the grants were also being used for homes purchased in developing or lower-income areas.
The table below shows the top 20 locations for first home owner grants paid in 2007.