WA Stamp Duty relief adds fuel to property frenzy

First home buyers have entered the Perth property market following stamp duty concessions, with property sales increasing since the concessions were announced two weeks ago. The Western Australian state government has abolished stamp duty for first home buyers on houses up to $500,000 with further concessions up to $600,000. In the fortnight since the initiative was announced 120 properties a day (1700 in total) have been cleared from housing stocks.