The extension of Western Australia’s stamp duty rebate for units sold off the plan will help increase the supply of apartments and attract investors back to the market, property sector stakeholders say.

The rebate for off-the-plan residential units and apartments was extended for another two years – at a reduced rate – at a cost of $26.2 million in the WA state budget, which included a record $875 million boost for social housing.

Urban Development Institute of Australia WA chief executive Tanya Steinbeck said the transfer rebate scheme was critical to attracting investors back to the WA market.

To read the article in full, click here.