As Western Australians head to the polls for the 2025 State Election this weekend, housing remains a top concern for many voters. Rising house prices and a tightening rental market have made housing affordability and accessibility a key issue in the lead-up to the election.

In a recent survey conducted by REIWA, nearly 15,000 community responses highlighted some of the most pressing housing issues in WA. A significant concern for many was the impact of stamp duty, which has been a barrier to both homeownership and downsizing for many Western Australians.

As a real estate agency deeply invested in the WA housing market, we believe it’s crucial to be aware of the policies and platforms that the political parties are putting forward, as these decisions could shape the future of the market for years to come. Here’s a summary of the key housing proposals and what they could mean for you, whether you’re looking to buy, sell, rent, or invest.

REIWA’s Recommendations for Housing Reform

The Real Estate Institute of Western Australia (REIWA) has been actively engaging with political parties and advocating for policies that will support a more efficient and effective housing market. Some of the key proposals that REIWA is backing include:

1. Increased First Home Owner Rate of Duty Thresholds: With property prices continuing to rise, REIWA is calling for the thresholds for the First Home Owner Rate of Duty to be increased. Currently, no duty is paid on homes valued up to $450,000, and a concessional rate applies for homes up to $600,000. REIWA suggests pegging these thresholds to the median prices in WA to keep pace with the market.
2. Home Buyer Assistance Account Boost: This account, which provides grants of up to $2,000 for first home buyers to help with incidental costs, was recently increased from $400,000 to $500,000 in December 2024. REIWA proposes further increasing this threshold and linking it to WA’s median property prices to reflect the current market conditions.
3. Stamp Duty Concession for Downsizers: Many older Western Australians are deterred from downsizing due to the high upfront costs of stamp duty. REIWA is advocating for a stamp duty concession for those looking to downsize, which could help more people move to homes that better suit their needs without being burdened by excessive costs.
4. Balanced Rental Reforms: After the significant impact of the COVID-19 pandemic on the rental market, which saw around 20,000 rental properties removed, there is a need for legislative stability. REIWA urges policies that support investors to prevent a repeat of the previous rental crisis while also addressing the need for more affordable rental properties and social housing for vulnerable tenants.

What the Political Parties Are Proposing This Election

Each of the major political parties has outlined their own housing policies for the upcoming election. Here’s a snapshot of what they’re offering:

• WA Labor:
  • A $130 million boost to support first home buyers and multi-residential projects.
  • A new affordable rental initiative.
  • A commitment to help thousands of first home buyers into homeownership.
  • Introduction of a home battery scheme to support sustainability.
• WA Liberals:
  • A new Regional Housing Infrastructure Program.
  • A $20,000 downsizing stamp duty rebate.
  • A plan to unlock 100,000 homes to meet growing demand.
  • Reduction of stamp duty tax for first home buyers.
• Nationals WA:
  • A groundbreaking proposal to abolish stamp duty for first home buyers, positioning WA as a national leader in this space.
• The Greens:
  • A strong focus on renters’ rights, addressing issues impacting those who rent in WA.

Looking Ahead

As the WA State Election approaches, the future of the housing market in Western Australia is very much at the forefront of voters’ minds. Whether it’s buying your first home, downsizing, or navigating the rental market, the policies and initiatives that emerge from this election will have a lasting impact on the WA property landscape.

At Holdsworth Real Estate, we’re committed to keeping you informed about the latest developments in the market. If you’re considering buying, selling, or investing in WA real estate, it’s important to stay updated on how these political shifts might influence the market.

Make sure to tune in after the election for further updates and insights as the results roll in and the policies start taking shape.

Stay informed and ready – your property journey begins here.