The West Australian
WA’s peak property development body has called for the State Government to permanently adopt its duty rebate scheme for off-the-plan apartment buyers, warning WA’s housing crisis will only worsen if the scheme ends in October next year as planned.
In a letter sent to Premier Mark McGowan on Friday, Urban Development Institute of Australia (WA) chief executive Tanya Steinbeck urged the Treasurer to consider keeping the off-the-plan duty rebate scheme in place to offset rising construction costs, which have caused many apartment developments to be shelved in recent months.
The scheme — due to end on October 24 next year — offers buyers entering pre-construction contracts a rebate of between 50 and 100 per cent on duty paid, depending on the value of the property, which is capped at $50,000.
To read the full story including extensive comments from UDIA WA CEO Tanya Steinbeck, click here.