27 May 2022

This month, the WA Government announced there would be a 50% reduction in land tax as part of its 2022-23 state budget. This decision was made as part of the WA Government’s significant reforms to housing availability, to promote build-to-rent (BTR) developments.

Real Estate Institute of WA president, Damian Collins, said the positive outlook for the WA economy will see the current strong cycle for the housing market continue.

"We expect that this strength and the forecast 1.2% increase in population will continue to underpin further growth of WA’s residential sales market,” Mr Collins said.

The State Government’s decision to incentivise the construction of BTR stock acknowledges the critical role the private sector plays in delivering additional housing supply, he said.