State Government Abolishes Stamp Duty For First Home Buyers

The South Australia State Government will officially abolish stamp duty for all eligible first homebuyers who build a new home, and extend the First Home Owner Grant to all eligible first homebuyers as part of the 2024-25 Budget.

This offer will commence as of Thursday 6 June, 2024.

To further help more South Australians into home ownership, the 2024-25 Budget will abolish property value thresholds for both the stamp duty exemption and First Home Owner Grant, providing an exciting time to build a brand new home with Metro Homes.

With the abolition of property value limits, a first homebuyer who purchases a new dwelling through Metro, broadly in line with the median house price of $750,000 will receive a benefit of up to $50,000*, including the First Home Owner Grant of $15,000*.

The stamp duty exemption will be available to all first home buyers who build a new home through a house and land package or building on your own land.

To find out if you’re an eligible First Home Buyer, contact Metro here or call 8100 0900 today! 

*refer to www.revenuesa.sa.gov.au/stampduty/first-home-buyer-relief for eligibility and terms and conditions. The up to $50,000 savings is based on $16,330 Stamp Duty relief for land up to $400,000 vacant land purchase with a new build plus $15,000 First Home Owners Grant, plus a $10,000 Builder’s Contribution offered through HomeStart loan, totalling $41,330. Or Single contract purchase up to $750,000 for an eligible first home owner, based on $29,580 stamp duty relief, $15,000 First Home Owner Grant, and discount of $5,000 from Metro, totalling $49,580. RLA 243075. BLD 243074.