The Property Tribune
The Western Australian Government has announced its latest Budget, with some of the key highlights: an expected $3.3 billion surplus for 2023-2024, and some $715 million in cost of living relief.
Premier Mark McGowan’s latest Budget also delivers a $750 million boost for housing supply and housing choice initiatives.
The Urban Development Institute of Australia (UDIA WA) has also welcomed measures in today’s Budget, noting, “The extension of the Off-the-Plan Transfer Duty Rebate for another two years and changing the incentive from a rebate to a concession is a direct response to UDIA WA advocacy.”
Combined with already announced land tax concessions for Build-To-Rent which are now supported by recent Federal Government taxation changes, the future supply of rental accommodation is looking brighter although the short-term picture remains bleak for those in need of affordable rental accommodation.
To read the article in full, including comments from UDIA WA CEO Tanya Steinbeck, click here.