Residential Settlement Costs on a $1 Million Perth Home
An offer accepted at $1.05 million in Floreat, and a settlement date six weeks away. The fair question is which settlement costs move with the price. Most do not. Transfer duty climbs steeply, while your search fees, PEXA fees and your settlement agent’s fee sit close to where they would on a $700,000 purchase.
Key Takeaways
- Transfer duty is the only major settlement cost that scales with price: $42,615.50 at $1 million against $29,740.50 at $750,000, a difference of $12,875 (Department of Treasury and Finance, October 2026).
- The WA first home owner rate cuts out above $800,000, so a first home buyer at $1 million pays the full general rate.
- Settlement agent fees, PEXA fees and title searches do not rise because a property is worth more.
What Are the Residential Settlement Costs on a $1 Million Home in Perth?
On a $1 million established home in Perth, transfer duty of $42,615.50 is the largest settlement cost, followed by Landgate registration fees, title searches, PEXA fees and your settlement agent’s fee. Rates and water are apportioned with the seller at the adjustment date. Only duty and registration fees scale with price.
Why transfer duty is the cost that moves
Transfer duty, which many people still call stamp duty, is assessed by RevenueWA on the dutiable value: the purchase price or the market value, whichever is higher. Above $725,000, duty is $28,453 plus $5.15 for every $100 above that point, and that tier has no ceiling, so each extra $100,000 adds $5,150. Run your actual figure through the Department of Treasury and Finance transfer duty calculator rather than estimating.
Why most of your other costs stay flat
A settlement on a $1.2 million house in Cottesloe takes the same title searches, the same verification of identity and the same PEXA workspace as one on a $600,000 house in Midland. Statutory charges are set by regulation, and professional work is priced on scope rather than asset value. This is the part buyers most often get wrong.
How Settlement Costs on a Million Dollar Home Work in Western Australia
WA assesses duty, registers title and settles electronically under its own rules, so these figures do not transfer from New South Wales or Victoria. Under the Joint Form of General Conditions used in most WA residential sales, the buyer carries transfer duty and the cost of registering the transfer, and outgoings are apportioned at the adjustment date. Special conditions can change that, so read yours. Duty is imposed under the Duties Act 2008, title registration sits with Landgate under the Transfer of Land Act 1893, and settlement agents are licensed under the Settlement Agents Act 1981. How these costs appear line by line is set out in our guide to reading your Perth settlement statement..
The first homeowner rate and where it stops
From 7 May 2026: no duty up to $600,000, then $16.15 per $100 above $600,000, up to $800,000. Above $800,000 the general rate applies in full, so a first home buyer at $1 million receives no concession at all. The First Home Owner Grant and the first home owner rate are also two separate schemes with separate caps. The grant does not reduce your duty.
Landgate fees and the 1 July cycle
Landgate lifts its regulated fees each financial year, and land titling fees rose by approximately 3.90 per cent on 1 July 2026. The transfer lodgement fee is calculated on the higher of the consideration and the dutiable value, so it does rise with price. Landgate publishes a transfer lodgement fee calculator for the exact figure.
What You Will Pay at Settlement on a $1 Million Perth Home
| Item | Who pays | When | Rises with price? |
| Transfer duty | Buyer | Before or at settlement | Yes, steeply. $42,615.50 at $1 million |
| Transfer lodgement fee | Buyer | At settlement | Yes, modestly. Landgate value scale |
| Discharge of mortgage | Seller | At settlement | No. Fixed Landgate fee |
| Title and statutory searches | Buyer | Before settlement | No. Fixed per search |
| PEXA transaction fee | Both, per party | At settlement | No. Fixed per party, not calculated on value |
| Settlement agent fee | Each party | At settlement | No. Priced on scope of work |
| Council rates and water | Apportioned | At settlement | Indirectly. |
| Strata levies, if applicable | Apportioned | At settlement | Indirectly |
| Lenders mortgage insurance | Buyer | At loan drawdown | Yes. Set by the lender. |
Transfer duty at a glance, general rate:
| Purchase price | Transfer duty |
|---|---|
| $750,000 | $29,740.50 |
| $950,000 | $40,040.50 |
| $1,000,000 | $42,615.50 |
| $1,200,000 | $52,915.50 |
Figures current as of October 2026. Fees and thresholds change; confirm amounts with your settlement agent.
Want these worked out for your own settlement? Call (08) 9296 8717 or request an online quote.
Your Checklist for Budgeting a $1 Million Perth Settlement
Calculate duty on the actual contract price, not a rounded one, since $40,000 of negotiation shifts your duty by $2,060. First home buyers should measure that price against the $800,000 cap, which applies to the dutiable value, so a price agreed just under it can still fall outside once market value is assessed. If you are selling and buying in the same window, note that duty falls due whether or not your sale has settled. Where your deposit is below 20 per cent, ask your lender for the LMI premium in dollars. Then get a written cost disclosure from your agent and diarise the adjustment date.
How KDD Conveyancing Handles Settlement Costs on Higher Value Homes
We itemise every cost in writing before settlement rather than at it, so you can see what is statutory and what is not, and we reconcile adjustments against the certificates rather than the seller’s estimate. KDD Conveyancing is licensed with the Department of Commerce, PEXA authorised and a member of the Australian Institute of Conveyancers WA Division, with over 20 years of WA settlements behind the team.
One buyer in a western suburb agreed to a price just over $1 million, having budgeted on a concession quoted earlier on a cheaper property. Checking the duty position at the start of the file, not in settlement week, left time to restructure the deposit and settle on the original date.
Talk to KDD Conveyancing About Your Perth Settlement
Above $1 million, transfer duty is the cost that changes and most of the rest stays where it was. Knowing which is which early is what keeps a settlement on its original date. Call KDD Conveyancing on (08) 9296 8717, and we will work through your figures before you are committed, in Floreat or anywhere else in the metropolitan area.
Frequently Asked Questions
How much is stamp duty on a $1 million house in WA?
$42,615.50 on the general rate, current as of October 2026. Above $725,000, duty is $28,453 plus $5.15 per $100 of dutiable value, which can exceed the contract price on an off-market or related party sale.
Do first-home buyers pay stamp duty on a $1 million home in Perth?
Yes, in full. The WA first homeowner rate applies only up to $800,000. Above that, the general rate applies with no partial concession. The saving does not taper away. It stops.
Talk to KDD Conveyancing About Your Perth Settlement
Above $1 million, transfer duty is the line that moves and nearly everything else stays where it was. The buyers who get caught are the ones who budget on a figure quoted at a lower price or assume a concession that stops at $800,000. Both are cheap to check before you sign and expensive to find in settlement week. Call KDD Conveyancing on (08) 9296 8717 or request an online quote, and we will work through your actual contract figure with you in Floreat or anywhere else in the metropolitan area.
