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Last week, the Real Estate Institute of Western Australia (REIWA) joined forces with other property industry groups – the Property Council of Australia (PCA), Urban Development Institute of Australia (UDIA), Master Builders Australia (MBA) and House Industry Association (HIA) – to demand a range of stimulus measures to boost Perth’s sagging housing market.
These stimulus measures included:
- Increase the Keystart purchase price cap to $550,000.
- Combine and match Keystart’s couples and families income categories to match new family limits.
- Increase stamp duty exemption to $550,000 for first home buyers.
- Introduce a stamp duty concession for seniors right-sizing.
- Reduce the foreign owner duty surcharge to four percent.
- Increase social housing through new builds and spot purchases.
- Amend Perth’s Regional Migration Status.
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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.
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