South Australians aged 60 and over will no longer pay stamp duty when purchasing a newly built home or off-the-plan apartment, following a policy change that took effect immediately after the state’s new Cabinet was sworn in.
Premier Peter Malinauskas signed off on the measure on his first day back in office, delivering on an election commitment aimed at encouraging older residents to move into smaller homes while freeing up larger properties for families.
The exemption applies to homes valued up to $2 million and is expected to save eligible buyers as much as $103,830 per transaction. The Government argues the move will support housing supply by encouraging new construction and increasing movement within the market.
The policy sits alongside a broader housing agenda put forward during the election campaign, which includes funding to accelerate land development and apartment construction, as well as initiatives to expand the construction workforce and improve access to home ownership.
Industry figures say there are already early signs of increased interest. Daniel Palumbo, Managing Director of the Palumbo Group, said enquiries from older buyers have picked up across recent developments, with many asking specifically about the removal of stamp duty.
He noted that upfront costs have long been a barrier for downsizers, and the change appears to be prompting more people to consider moving. If the trend continues, he said, it could help increase turnover in the housing market while supporting new projects.
The Government has framed the policy as part of a wider effort to address housing pressures, which remain a challenge across South Australia. Alongside incentives for downsizers, measures include funding to fast-track housing developments, expand apprenticeship pathways in construction, and introduce schemes aimed at helping renters transition into home ownership.
There are also plans to renovate vacant public housing and expand supported accommodation, as well as introduce a portable rental bond system to ease the financial strain on tenants moving between properties.
While the stamp duty change has been welcomed by parts of the property sector, its broader impact will depend on how many eligible homeowners choose to act on the incentive. Some analysts note that downsizing decisions are often influenced by lifestyle factors as much as financial ones, meaning the policy may take time to translate into increased housing availability.
For now, the Government is positioning the move as a practical way to ease pressure across different parts of the housing system, with a focus on increasing supply while helping older residents transition into homes that better suit their needs.
Support independent community journalism. Support The Indian Sun.
Follow The Indian Sun on X | Instagram | Facebook
Support Independent Community Journalism
Dear Reader,The Indian Sun exists for one reason: to tell stories that might otherwise go unheard.
We report on local councils, state politics, small businesses and cultural festivals. We focus on the Indian diaspora and the wider multicultural community with care, balance and accountability. We publish in print and online, send regular newsletters and produce video content. We also run media training programs to help community organisations share their own stories.
We operate independently.
Community journalism does not have the backing of large media corporations. Advertising revenue fluctuates. Platform algorithms change. Costs continue to rise. Yet the need for credible, grounded reporting in a multicultural Australia has never been greater.
When you support The Indian Sun, you support:
• Independent reporting on issues affecting migrant communities
• Coverage of local and state decisions that shape daily life
• A platform for small businesses and community groups
• Media training that builds skills within the community
• Journalism accountable to readers
We cannot cover everything, but we work to cover what matters.
If you value thoughtful reporting that reflects Australia’s diversity, we invite you to contribute. Every donation helps us maintain the quality and consistency of our work.
Please consider making a contribution today.
Thank you for your support.
The Indian Sun Team
