The Western Australian budget was announced on Thursday, with WA treasurer Ben Wyatt revealing that the state has had its first surplus in five years of $553 million. But for Damian Collins, the president of the Real Estate Institute of WA, there was a lack of attention placed on the property market. This influx of funds should go towards reducing state taxes, particularly stamp duty, and helping first home buyers get into the market through the reintroduction of the First Home Owners Grant for established properties,” Mr Collins said. In its pre-budget submission, REIWA focused on six main features for the WA state government to focus on, which were:1. Introduce a $10,000 concession on stamp duty for seniors over 654.