20 June, 2016

Lord Mayor Welcomes Stamp Duty Announcement

Lord Mayor Martin Haese welcomes today’s news that the State Government will extend stamp duty concessions for off-the-plan apartments.

Lord Mayor Martin Haese said the $7.6 million investment, as part of the 2016 – 17 State Budget, will help stimulate the property and construction sector and help the city continue to grow.

“Extending stamp duty concessions for off-the-plan apartments is great news for the city and North Adelaide,” said Martin.

“Stamp duty concessions can make it easier for young people to get into the market and also encourage ‘empty nesters’ to move into the city.

“We’re seeing these two groups in particular wanting to buy in the city to be where the action is and to enjoy all that city living has to offer.

“Living in the city and North Adelaide means you’re close to fantastic eateries, world class shopping, our universities, beautiful Park Lands and Adelaide Oval, the museum and theatres.

“This announcement is great news for buyers and will help Adelaide to keep growing, create jobs and achieve our population targets.

“It also sends the message to developers that Adelaide is open for business and we want you to invest here.

Initially set to end on 30 June this year, the scheme will now run until 30 June 2017.

Matt Hallliwell