More Western Australians could soon step onto the property ladder or the housing market, with the State Government revealing a new round of initiatives to making home ownership more accessible.
The Cook Government has announced a major boost to housing affordability, with new initiatives starting this year as part of its election commitments. The funding for all programs will be included in the upcoming State Budget.
A new low-deposit modular loan is available through Keystart, designed to support regional homebuyers where traditional builds are often more expensive or harder to access.
Premier Roger Cook said the government was focused on ensuring more people could afford a place to call home.
“This investment is one of a wide range of levers my government is utilising to boost housing supply and improve access to affordable homes for more Western Australians,” he said.
In September, Keystart will also launch a $210 million shared equity scheme. The initiative will support 1,000 homebuyers by allowing the government to co-purchase up to 35 per cent of a property, lowering upfront costs and mortgage repayments.
By the end of 2025, a $75 million Build to Rent Kickstart Fund will open to help deliver more affordable rental developments through no-interest and low-interest construction loans.
Housing and Works Minister John Carey said the government was continually adapting its policies to meet housing needs.
“These latest reforms demonstrate how our State Government continues to change and adapt policies to enable more Western Australians to purchase their first home,” he said.
Further support is expected later this year for graduates and apprentices, including low deposits and free financial coaching.
As part of the shake-up, Keystart will become a Government Trading Enterprise, with more control to deliver affordable housing and finance large-scale projects.
A new board has also been announced, with former Under Treasurer Michael Barnes set to become chair from July 1.
