In 2026, eligible South Australians aged 60 and over can save thousands of dollars when buying a new home.
The South Australian Government has introduced new stamp duty relief to help older homeowners downsize. By removing one of the biggest upfront costs of buying a property, the initiative aims to make it easier for people to move into a home that better suits their lifestyle.
WHO CAN ACCESS STAMP DUTY RELIEF?
To qualify for stamp duty relief, at least one person buying the new property must be 60 years of age or older.
You must also:
- Sell your current principal place of residence.
- Buy a property with a smaller land size than your current home.
- Meet the property value limits set by RevenueSA.
The maximum purchase price is:
- $2 million for a newly built home or an off-the-plan apartment.
- $1.2 million for vacant land if you plan to build a new home.
WHICH PROPERTIES QUALIFY?
The stamp duty relief only applies to:
- Newly built homes.
- Off-the-plan apartments.
- Vacant land purchased to build a new home.
Established homes are not eligible under the current scheme.
The initiative has been designed to encourage the construction of new housing while helping free up larger family homes for the next generation of buyers.
HOW MUCH COULD YOU SAVE?
The savings can be substantial.
Eligible buyers can save up to $103,830 in stamp duty, depending on the value of the property they purchase.
The stamp duty relief applies to eligible contracts signed on or after 25 March 2026.
IS DOWNSIZING THE RIGHT MOVE?
Downsizing can reduce maintenance, lower ongoing living costs, and help unlock equity from your current home.
If you’ve been thinking about moving into a smaller property, this new stamp duty relief could make the decision even more affordable.
The team at AMKAR Real Estate can help you understand your options, estimate the value of your current home, and guide you through the selling and buying process.
Disclaimer: This article is general information only and does not constitute financial or legal advice. Eligibility requirements apply. Please refer to RevenueSA or seek professional advice to determine your individual circumstances.