❓ The Treasurer addresses the WA Parliament regarding the Carpenter government's initiatives to assist regional first home buyers, highlighting stamp duty exemptions and the First Home Owner Grant. He defends the government's approach against criticism, citing positive statistics and cautioning against measures that could further inflate the property market.
AnsweredQoN 383Legislative Assembly
QuestionView source ↗
REGIONAL FIRST HOME BUYERS
Can the Treasurer inform the house about how the Carpenter government is continuing to assist first home buyers in our regions? Several members interjected. Mr E.S. RIPPER
Can the Treasurer inform the house about how the Carpenter government is continuing to assist first home buyers in our regions? Several members interjected. Mr E.S. RIPPER
AnswerView source ↗
Struggling oppositions normally try to create chaos in Parliament, and we have seen a bit of that during this question time. I thank the member for Albany for his question. The Carpenter government is very serious about assisting first home buyers right across the state. First home buyers do not pay stamp duty on houses worth up to $250 000, with a partial exemption for houses valued at between $250 000 and $350 000. Regional Western Australia is a major beneficiary, with 91 per cent of first home buyers purchasing an established home outside the metropolitan area receiving full or partial stamp duty relief in the March quarter. Almost 67 per cent did not pay any stamp duty at all, with a further 23 per cent benefiting from partial stamp duty relief. In the current strong housing market, not all first home buyers can purchase the houses they want at the prices they expect to pay. Nevertheless, the overall figures are terrific and show that the government’s relief package is continuing to assist first home buyers, particularly those in the regions. The stamp duty exemption is not the only part of that package. The government fully funds the $7 000 first home owner grant, and regional Western Australia is also doing very well from that grant. Kalgoorlie, Boulder, Geraldton and Bunbury all feature in the top 20 list for first home owner grant recipients in Western Australia. Dr K.D. Hames interjected. Mr E.S. RIPPER : The member may quote anecdotes, but Australian Bureau of Statistics figures show that the number of first home buyers in Western Australia is up by almost 15 per cent in the past 12 months. The overall figures paint a picture different from those drawn by the anecdotes used by some members. It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
Several members interjected. Mr E.S. RIPPER replied: Struggling oppositions normally try to create chaos in Parliament, and we have seen a bit of that during this question time. I thank the member for Albany for his question. The Carpenter government is very serious about assisting first home buyers right across the state. First home buyers do not pay stamp duty on houses worth up to $250 000, with a partial exemption for houses valued at between $250 000 and $350 000. Regional Western Australia is a major beneficiary, with 91 per cent of first home buyers purchasing an established home outside the metropolitan area receiving full or partial stamp duty relief in the March quarter. Almost 67 per cent did not pay any stamp duty at all, with a further 23 per cent benefiting from partial stamp duty relief. In the current strong housing market, not all first home buyers can purchase the houses they want at the prices they expect to pay. Nevertheless, the overall figures are terrific and show that the government’s relief package is continuing to assist first home buyers, particularly those in the regions. The stamp duty exemption is not the only part of that package. The government fully funds the $7 000 first home owner grant, and regional Western Australia is also doing very well from that grant. Kalgoorlie, Boulder, Geraldton and Bunbury all feature in the top 20 list for first home owner grant recipients in Western Australia. Dr K.D. Hames interjected. Mr E.S. RIPPER : The member may quote anecdotes, but Australian Bureau of Statistics figures show that the number of first home buyers in Western Australia is up by almost 15 per cent in the past 12 months. The overall figures paint a picture different from those drawn by the anecdotes used by some members. It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
Mr E.S. RIPPER replied: Struggling oppositions normally try to create chaos in Parliament, and we have seen a bit of that during this question time. I thank the member for Albany for his question. The Carpenter government is very serious about assisting first home buyers right across the state. First home buyers do not pay stamp duty on houses worth up to $250 000, with a partial exemption for houses valued at between $250 000 and $350 000. Regional Western Australia is a major beneficiary, with 91 per cent of first home buyers purchasing an established home outside the metropolitan area receiving full or partial stamp duty relief in the March quarter. Almost 67 per cent did not pay any stamp duty at all, with a further 23 per cent benefiting from partial stamp duty relief. In the current strong housing market, not all first home buyers can purchase the houses they want at the prices they expect to pay. Nevertheless, the overall figures are terrific and show that the government’s relief package is continuing to assist first home buyers, particularly those in the regions. The stamp duty exemption is not the only part of that package. The government fully funds the $7 000 first home owner grant, and regional Western Australia is also doing very well from that grant. Kalgoorlie, Boulder, Geraldton and Bunbury all feature in the top 20 list for first home owner grant recipients in Western Australia. Dr K.D. Hames interjected. Mr E.S. RIPPER : The member may quote anecdotes, but Australian Bureau of Statistics figures show that the number of first home buyers in Western Australia is up by almost 15 per cent in the past 12 months. The overall figures paint a picture different from those drawn by the anecdotes used by some members. It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
Struggling oppositions normally try to create chaos in Parliament, and we have seen a bit of that during this question time. I thank the member for Albany for his question. The Carpenter government is very serious about assisting first home buyers right across the state. First home buyers do not pay stamp duty on houses worth up to $250 000, with a partial exemption for houses valued at between $250 000 and $350 000. Regional Western Australia is a major beneficiary, with 91 per cent of first home buyers purchasing an established home outside the metropolitan area receiving full or partial stamp duty relief in the March quarter. Almost 67 per cent did not pay any stamp duty at all, with a further 23 per cent benefiting from partial stamp duty relief. In the current strong housing market, not all first home buyers can purchase the houses they want at the prices they expect to pay. Nevertheless, the overall figures are terrific and show that the government’s relief package is continuing to assist first home buyers, particularly those in the regions. The stamp duty exemption is not the only part of that package. The government fully funds the $7 000 first home owner grant, and regional Western Australia is also doing very well from that grant. Kalgoorlie, Boulder, Geraldton and Bunbury all feature in the top 20 list for first home owner grant recipients in Western Australia. Dr K.D. Hames interjected. Mr E.S. RIPPER : The member may quote anecdotes, but Australian Bureau of Statistics figures show that the number of first home buyers in Western Australia is up by almost 15 per cent in the past 12 months. The overall figures paint a picture different from those drawn by the anecdotes used by some members. It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
In the current strong housing market, not all first home buyers can purchase the houses they want at the prices they expect to pay. Nevertheless, the overall figures are terrific and show that the government’s relief package is continuing to assist first home buyers, particularly those in the regions. The stamp duty exemption is not the only part of that package. The government fully funds the $7 000 first home owner grant, and regional Western Australia is also doing very well from that grant. Kalgoorlie, Boulder, Geraldton and Bunbury all feature in the top 20 list for first home owner grant recipients in Western Australia. Dr K.D. Hames interjected. Mr E.S. RIPPER : The member may quote anecdotes, but Australian Bureau of Statistics figures show that the number of first home buyers in Western Australia is up by almost 15 per cent in the past 12 months. The overall figures paint a picture different from those drawn by the anecdotes used by some members. It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
Dr K.D. Hames interjected. Mr E.S. RIPPER : The member may quote anecdotes, but Australian Bureau of Statistics figures show that the number of first home buyers in Western Australia is up by almost 15 per cent in the past 12 months. The overall figures paint a picture different from those drawn by the anecdotes used by some members. It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
Mr E.S. RIPPER : The member may quote anecdotes, but Australian Bureau of Statistics figures show that the number of first home buyers in Western Australia is up by almost 15 per cent in the past 12 months. The overall figures paint a picture different from those drawn by the anecdotes used by some members. It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
Several members interjected. Mr E.S. RIPPER replied: Struggling oppositions normally try to create chaos in Parliament, and we have seen a bit of that during this question time. I thank the member for Albany for his question. The Carpenter government is very serious about assisting first home buyers right across the state. First home buyers do not pay stamp duty on houses worth up to $250 000, with a partial exemption for houses valued at between $250 000 and $350 000. Regional Western Australia is a major beneficiary, with 91 per cent of first home buyers purchasing an established home outside the metropolitan area receiving full or partial stamp duty relief in the March quarter. Almost 67 per cent did not pay any stamp duty at all, with a further 23 per cent benefiting from partial stamp duty relief. In the current strong housing market, not all first home buyers can purchase the houses they want at the prices they expect to pay. Nevertheless, the overall figures are terrific and show that the government’s relief package is continuing to assist first home buyers, particularly those in the regions. The stamp duty exemption is not the only part of that package. The government fully funds the $7 000 first home owner grant, and regional Western Australia is also doing very well from that grant. Kalgoorlie, Boulder, Geraldton and Bunbury all feature in the top 20 list for first home owner grant recipients in Western Australia. Dr K.D. Hames interjected. Mr E.S. RIPPER : The member may quote anecdotes, but Australian Bureau of Statistics figures show that the number of first home buyers in Western Australia is up by almost 15 per cent in the past 12 months. The overall figures paint a picture different from those drawn by the anecdotes used by some members. It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
Mr E.S. RIPPER replied: Struggling oppositions normally try to create chaos in Parliament, and we have seen a bit of that during this question time. I thank the member for Albany for his question. The Carpenter government is very serious about assisting first home buyers right across the state. First home buyers do not pay stamp duty on houses worth up to $250 000, with a partial exemption for houses valued at between $250 000 and $350 000. Regional Western Australia is a major beneficiary, with 91 per cent of first home buyers purchasing an established home outside the metropolitan area receiving full or partial stamp duty relief in the March quarter. Almost 67 per cent did not pay any stamp duty at all, with a further 23 per cent benefiting from partial stamp duty relief. In the current strong housing market, not all first home buyers can purchase the houses they want at the prices they expect to pay. Nevertheless, the overall figures are terrific and show that the government’s relief package is continuing to assist first home buyers, particularly those in the regions. The stamp duty exemption is not the only part of that package. The government fully funds the $7 000 first home owner grant, and regional Western Australia is also doing very well from that grant. Kalgoorlie, Boulder, Geraldton and Bunbury all feature in the top 20 list for first home owner grant recipients in Western Australia. Dr K.D. Hames interjected. Mr E.S. RIPPER : The member may quote anecdotes, but Australian Bureau of Statistics figures show that the number of first home buyers in Western Australia is up by almost 15 per cent in the past 12 months. The overall figures paint a picture different from those drawn by the anecdotes used by some members. It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
Struggling oppositions normally try to create chaos in Parliament, and we have seen a bit of that during this question time. I thank the member for Albany for his question. The Carpenter government is very serious about assisting first home buyers right across the state. First home buyers do not pay stamp duty on houses worth up to $250 000, with a partial exemption for houses valued at between $250 000 and $350 000. Regional Western Australia is a major beneficiary, with 91 per cent of first home buyers purchasing an established home outside the metropolitan area receiving full or partial stamp duty relief in the March quarter. Almost 67 per cent did not pay any stamp duty at all, with a further 23 per cent benefiting from partial stamp duty relief. In the current strong housing market, not all first home buyers can purchase the houses they want at the prices they expect to pay. Nevertheless, the overall figures are terrific and show that the government’s relief package is continuing to assist first home buyers, particularly those in the regions. The stamp duty exemption is not the only part of that package. The government fully funds the $7 000 first home owner grant, and regional Western Australia is also doing very well from that grant. Kalgoorlie, Boulder, Geraldton and Bunbury all feature in the top 20 list for first home owner grant recipients in Western Australia. Dr K.D. Hames interjected. Mr E.S. RIPPER : The member may quote anecdotes, but Australian Bureau of Statistics figures show that the number of first home buyers in Western Australia is up by almost 15 per cent in the past 12 months. The overall figures paint a picture different from those drawn by the anecdotes used by some members. It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
In the current strong housing market, not all first home buyers can purchase the houses they want at the prices they expect to pay. Nevertheless, the overall figures are terrific and show that the government’s relief package is continuing to assist first home buyers, particularly those in the regions. The stamp duty exemption is not the only part of that package. The government fully funds the $7 000 first home owner grant, and regional Western Australia is also doing very well from that grant. Kalgoorlie, Boulder, Geraldton and Bunbury all feature in the top 20 list for first home owner grant recipients in Western Australia. Dr K.D. Hames interjected. Mr E.S. RIPPER : The member may quote anecdotes, but Australian Bureau of Statistics figures show that the number of first home buyers in Western Australia is up by almost 15 per cent in the past 12 months. The overall figures paint a picture different from those drawn by the anecdotes used by some members. It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
Dr K.D. Hames interjected. Mr E.S. RIPPER : The member may quote anecdotes, but Australian Bureau of Statistics figures show that the number of first home buyers in Western Australia is up by almost 15 per cent in the past 12 months. The overall figures paint a picture different from those drawn by the anecdotes used by some members. It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
Mr E.S. RIPPER : The member may quote anecdotes, but Australian Bureau of Statistics figures show that the number of first home buyers in Western Australia is up by almost 15 per cent in the past 12 months. The overall figures paint a picture different from those drawn by the anecdotes used by some members. It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
It is certainly true that some groups, such as the Real Estate Institute of Western Australia, want the government to do even more. Quite frankly, one would expect nothing less from REIWA. It is a lobby group for a particular industry that would benefit from such a move, and REIWA does its job as lobbyist very well. However, there is another side to the argument; that is, increasing the exemption level now, given the current state of the property market, could heat up the property market even further, causing another jump in prices. There is one group that would stand to benefit from an even further increase in property prices, but it is not first home buyers. When we think about the possibility of improving the system for first home buyers, we need to get the timing right in their interests. These are just the sort of matters being examined by the state tax review.
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