A re-elected Malinauskas Labor Government will abolish stamp duty for downsizers buying new homes to further stimulate housing growth and help free up larger homes for families.

The total stamp duty abolition would apply to people aged 60 or over buying a smaller, newly built home or off-the-plan apartment worth up to $2 million, saving eligible South Australians up to $103,830.

The plan supports Labor's clear focus on building more homes by providing an incentive for downsizers to buy a new property, while also freeing up larger homes for families. By abolishing stamp duty, we are offering a real incentive to older South Australians to downsize.

People will only be able to access this exemption once.

To receive stamp duty relief under Labor’s policy, applicants must:

Be aged 60 years or older
Be purchasing a new or off-the-plan dwelling to live in
Sell their existing principal place of residence
Be purchasing a property valued at up to $2 million, with a land or apartment size smaller than their existing principal place of residence