Stamp duty waived for first home buyers in South Australian budget focused on housing and health

Stamp duty will be waived for first home buyers in South Australia as the government hands down a state budget focused on housing and health.

Treasurer Stephen Mullighan said his second budget was about believing the "dream of home ownership" was achievable for young people.

Another centrepiece of 2023-24 budget included an extra $2.3 billion allocated to help ease pressure on hospitals and the health system.

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Young South Australians will be given a "foot in the door", with a giant funding package for first home buyers.

Mullighan said he was proud to be putting home ownership back within reach of young people.

About 3800 first home buyers each year will benefit from waived stamp duty on newly built properties valued up to $650,000, or vacant land priced up to $400,000.

Eligibility for the $15,000 First Home Owners Grant will also be extended under the move, which will include properties valued at up to $650,000.

A new HomeStart scheme will help eligible South Australians build a first home with a two per cent deposit home loan.

"This budget gets them fairly and squarely back with home ownership in their grasp," Mullighan said during his budget speech.

Another main focus of the budget is health, with $2.3 billion allocated to fix ambulance ramping and increase demand on hospitals.

Mullighan said he was confident the budget would return to surplus next year, after recording a deficit of $249 million.

"This budget returns to surplus from next year and introduces no new taxes," he said.

"This places the budget in a strong position for the government to be able to respond to further unexpected events and capitalise on the economic opportunities to further diversify and strengthen our economy through government investment."

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