REIWA demands more first homebuyer subsidies to fix dead market

With Perth’s property market experiencing its biggest downturn on record:

The Real Estate Institute of Western Australia (REIWA) has demanded a raft of additional first home buyers (FHB) subsidies to fix the dead market:

REIWA released a six-point plan to address the issue, under which the state would increase the stamp duty exemption threshold for first-home buyers from $430,000 to $550,000. Collins said this would help first-home buyers purchase established properties that are located close to the city.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.