The Malinauskas Labor Government has helped thousands of South Australians buy or build a new home over the past year, providing $120.1 million in stamp duty relief and First Home Owner Grants.
In the 2024-25 State Budget, the Labor Government abolished stamp duty for all first homebuyers who buy or build a new home, and extended the First Home Owner Grant by removing the $650,000 property value thresholds.
Over the past financial year, $73.5 million in stamp duty relief was provided to 3,705 households who purchased a new home or vacant land, compared with $39.2 million in 2023-24.
There was also $19.3 million more paid in First Home Owner Grants in 2024-25, compared with previous financial year.
The average age of those accessing stamp duty relief and the First Home Owner Grant is 32 years old.
The median value of a new home purchased by a first homebuyer last financial year was $766,000 and the median stamp duty relief provided was $36,000.
When combined with the First Home Owner Grant of up to $15,000 it means the average first home owner buying or building a new home was $51,000 better off last financial year.
Abolishing the stamp duty on new homes only will encourage more South Australians to build, which will boost housing supply and moderate price growth.
In contrast, Vincent Tarzia and the Liberal Party have a plan to increase house prices by removing stamp duty for first home buyers purchasing both new and existing homes.
The cost of the Liberals stamp duty plan is approximately $130 million per annum, or more than half a billion dollars across the forward estimates.
Not only will this increase State debt, but independent analysts state the policy will result in higher house prices by increasing demand without incentivising supply.
According to the Australian Bureau of Statistics (ABS), more new homes are now being built. The number of dwellings under construction is 6 per cent higher than a year ago, while dwelling commencements are up 33 per cent year on year.
Quotes
Attributable to Stephen Mullighan
Abolishing stamp duty for first home buyers on new builds is boosting the number of young South Australians getting into their own home and seeing more houses being built.
Last financial year we provided $120 million in support for South Australians to buy or build or a new home meaning the average first homebuyer purchasing a new home was $51,000 better off.
While we’re helping more South Australians buy their first home, the Liberal Party has a plan to increase house prices and out homeownership further out of reach for young South Australians.
Attributable to Nick Champion
Our Government is not only building more homes for South Australians, but also backing those who need a hand the most and giving them a leg up into the housing market.
These supports are a kickstart to home ownership that provides security for families and grows our housing supply.
We are tackling the housing crisis by growing supply, not fuelling demand for existing homes, and supporting more South Australians into the market.
Attributable to first home buyer Manvi
Buying my first home always felt like a distant dream, but the stamp duty relief and First Home Owner Grant made it possible much sooner than I expected.
These savings gave me the confidence to take that big step and invest in my future. It wasn’t just about the money — it was about finally feeling that home ownership was within my reach.
Knowing the government is supporting first home buyers like me makes a huge difference, especially in such a competitive housing market.
For me, this is more than a house — it’s stability, security, and the start of a new chapter in my life.
