BUILDING
ON THE COAST
For the past few years, first home buyers in Perth have been rushed, outbid and squeezed. That’s starting to change.
REIWA says the shift toward a more balanced market is giving first home buyers something they’ve been missing: more choice and more time to decide. At the end of September, 7,812 Perth properties were for sale, almost three times as many as a year earlier. Houses took a median of 26 days to sell, compared with just eight days in September 2025.
At the same time, the WA Government has made some of its most generous changes in years for first home buyers. If you’re thinking about buying land and building, here’s what you need to know.
Why the land threshold matters
If you plan to build, the vacant land threshold is the one to focus on. At Lancelin South, the Stage 11 price guide runs from $263,000 to $450,000. That puts the whole range at or under the new $450,000 exemption threshold for eligible first home buyers.
To put that in dollars: under WA’s general transfer duty rates, a $350,000 block attracts around $10,735 in duty. An eligible first home buyer would pay none of it. That’s money that can go toward your build, your fit-out or your buffer.
The $10,000 grant for NEW BUILDS
WA’s First Home Owner Grant pays $10,000 to eligible first home buyers who buy or build a new home. From 7 May 2026, the property value cap for homes south of the 26th parallel rose from $750,000 to $800,000. When you build, the cap applies to the combined value of your land and build, so it’s worth planning your budget around it from the start.
Before you commit: get the numbers right
More breathing space is a chance to make a better decision, not a reason to rush. REIWA’s advice to first home buyers is sound for anyone building:
- Start with finance: Know your deposit and borrowing capacity, and get written pre-approval.
- Leave room to move: Avoid borrowing at the very top of your capacity, and allow for future rate changes. Interest rates have already risen several times this year.
- Count every cost: Allow for settlement fees, insurance, site costs, moving and ongoing maintenance, not just the land and build price.
- Read the conditions: Grants and duty concessions come with requirements, including living in the home for a set period, so check the eligibility rules carefully.
Building your first home at Lancelin South
Building rather than buying established gives you a brand new home designed around how you want to live, and it’s the pathway that government incentives are now designed to support. At Lancelin South, that means a block a short walk from the beach in a coastal community with an approved plan for 7,000 homes.
Our team can walk you through current lots, likely land and build budgets, and how the timing of a release fits with your finance.
This article is general information only and does not consider your personal circumstances. It is not financial, tax or legal advice. Confirm current rules with your participating lender and seek independent advice before committing to a purchase. The duty figure above is an estimate based on WA general transfer duty rates.
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