Property Council urges South Australia to scrap stamp duty on existing homes for first-time buyers
The Property Council of South Australia is pressing the state government to eliminate stamp duty for first-home buyers purchasing established properties, arguing it would ease the housing squeeze.
In South Australia, the Property Council is lobbying for a stamp-duty exemption on established homes bought by first-time purchasers, noting that the state, along with Tasmania and the Northern Territory, currently provides no such relief. Bruce Djite highlighted that recent federal budget measures have caused investors to retreat from existing dwellings, leaving a dormant market that could be tapped by young buyers. Housing Minister Nick Champion rejected the proposal, calling it "idiotic" and insisting the government will continue to favour new-construction incentives.
Students such as Clementine Cooke-Hall and Sam Menadue argued that the existing tax burden makes homeownership in Adelaide unattainable for many, fearing it will force youth to relocate farther from city amenities. Renter Jordan Armstrong echoed the sentiment, describing the market as rigged for the wealthy and calling housing a basic right. RevenueSA’s calculator shows a $700,000 established home would incur $32,330 in stamp duty for a first-home buyer, underscoring the financial pressure on young South Australians.
Why it matters
Stamp-duty relief could make homeownership more attainable for young South Australians facing steep housing costs.
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