The South Australian Government says its push to make first home ownership more attainable has delivered $120.1 million in support over the past year, with thousands of buyers benefiting from stamp duty relief and First Home Owner Grants.
Treasurer Stephen Mullighan said abolishing stamp duty for all first home buyers purchasing or building a new home, alongside extending the First Home Owner Grant by removing the $650,000 property cap, was helping more South Australians into the market while increasing housing supply.
Over the past financial year, $73.5 million in stamp duty relief went to 3,705 households buying a new home or vacant land, up from $39.2 million in 2023–24. The government also paid $19.3 million more in grants than the previous year.
The median new home purchased by a first home buyer was valued at $766,000, with an average $36,000 in stamp duty relief. When combined with the grant of up to $15,000, the average first home buyer was $51,000 ahead.
Mr Mullighan said the policy was working as intended. “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 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 put homeownership further out of reach for young South Australians.”
Housing and Urban Development Minister Nick Champion said the measures were targeted to stimulate supply, not push up prices. “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.”
The government pointed to Australian Bureau of Statistics data showing the number of dwellings under construction in South Australia is up 6 per cent on last year, with dwelling commencements 33 per cent higher year on year.
First home buyer Manvi said the changes had made a personal difference. “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.”
The government argues its approach contrasts with the Opposition’s plan to extend stamp duty relief to both new and existing homes, which it says would cost $130 million annually, add to state debt, and push up prices by increasing demand without adding supply.
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