Eligibility and benefits may vary depending on the specific Scheme, provider, or individual circumstances. We recommend reviewing the relevant Scheme documentation or contacting the Scheme administrator for more information. This well-established program lets you make extra voluntary contributions to your super fund, you can grow your savings faster and take advantage of lower tax rates, all to help you buy or build your first home. With the Australian Government 5% Deposit Scheme, eligible first home buyers and single parents may be able to buy sooner – with a smaller deposit, and no Lenders Mortgage Insurance. Our purpose is to improve housing outcomes by helping more Australians to access affordable, safe and secure housing.
Lower Mortgage Broker Perth upfront costsIf living expenses prevent you from saving a decent deposit, a low deposit home loan allows you to get your foot in the door with a smaller deposit. The first home owner rate is a concessional rate of duty applied to certain transactions, such as a contract to purchase or transfer a home or vacant land. The Australian Government 5% Deposit Scheme is for aspiring home buyers – first home buyers with a minimum 5% deposit, or single parents with a minimum of 2%.
Ms Tindall characterised the change to the scheme as a possible "one-off sugar hit" because so many more people would qualify for it, which could push house prices up, leaving the next batch of first buyers worse off. The expansion of the Home Guarantee Scheme could be a game-changer for many Western Australians, particularly first-home buyers priced out of the market. But with experts warning of possible price growth, it’s important to approach the opportunity with a clear strategy.
A new Keystart commercial financing facility costing $250 million is also set to provide low-cost finance for developments that include affordable housing. WOW Homes have had long standing and trusted relationships with all of our suppliers, ensuring on time delivery of high-quality products to your site. Good relationships mean we get special treatment, saving us on both time and cost, enabling us to pass on savings directly to our clients and resulting in a quicker build.
Brown also highlighted that with variations across suburbs and regions, the expected influx of first-home buyers will add to market complexity. For brokers, this highlights the importance of staying across local market shifts to better guide clients on affordability and lending options. The amount you may be eligible to borrow will be based on a full application.
Ms Tindall encouraged buyers to do their own research about what repayments would look like, saying they should apply as much as a 3 per cent increase to their repayments. In Sydney and Melbourne, couples on an average combined yearly income would not be able to access a loan offered at the top end of the scheme. If you’re considering using the Home Guarantee scheme, speak to a broker who understands the WA market and can help you make the most of the changes. It is true that because each builder has different requirements, it can often be difficult to choose the best one. Your recommended builders are thoroughly analysed by Perth Home Brokers, who also secures prices that meet your list of requirements. Additionally, we can demonstrate the benefits of one builder over another so you can select the greatest options available.
By December 2024, Perth was one of only two Australian cities where home prices did not fall. The city saw an impressive 17.59% price increase over the year, with properties selling faster than ever. But despite the fast-paced market, there are ways for FHBs to break in. The Moneysmart website has information to help you budget and save for a house deposit. Run by the Australian Taxation Office (ATO), the scheme helps first home buyers save faster by allowing them to withdraw voluntary super contributions they’ve made to their super.
From stunning home designs to prime blocks nestled in some of WA’s most sought-after suburbs, our house and land packages are sure to impress. Atlantis Beach is one of Perth’s most exciting coastal masterplanned communities. Research suburbs that align with your lifestyle, commute and budget. Consider proximity to schools, transport links, shops and open spaces. For first home buyers especially, masterplanned communities are very appealing because they’re designed with liveability in mind and offer a strong sense of community from day one. †Please be advised that verbal and written communication from Citi may be in English as we may not be able to provide servicing related communications in all languages.
Pre-approval may take a few days, while full approval can take between four and six weeks. To speed things up, make sure you have all your documents ready and respond quickly to any requests from your lender or broker. Feature feesSome loans charge a fee to use certain features like your redraw facility or extra repayment option.
For starters, our selection is vast and varied, with options to suit every lifestyle and budget. Whether you’re looking for a cosy three-bedroom nest or a spacious five-bedroom family home, we have a package that fits your needs. With no hidden costs or surprises, you’ll know exactly what’s included in your package from the get-go.
EOFY is often when buyers begin seriously reviewing finances and eligibility requirements, making it one of the best times to explore available support options. Canstar's data insights director Sally Tindall looked at every major capital city, and found buying a property at the top of the cap was out of reach for single income earners, despite the government guarantee. In order to provide you with the full range of financial services from several lenders so that you can finally construct your own home, we have partnered with Australian Mortgage Broking. Changes to the scheme — now branded the Australian Government 5% Deposit Scheme and in effect from October 1 — have removed income limits and raised property price caps.
But it could be a different story in the second half of 2025 if household finances get a boost, which would support a jump in demand. That is under a base case scenario, which assumes mid-year interest rate cuts, population growth continuing at 500,000+, and no resurgence of inflation. The report forecasts average national housing prices to rise by between 1 and 4 per cent. As you begin or continue to advance in your investment journey, finding and trusting the ‘right’ advice isn’t always easy. Proudly based in Perth and trusted across Australia, our consultants will help you build, grow and optimise your property portfolio. That wish you have of kicking off your shoes in your dream home can turn into a reality.
They will then pass your details onto one of our specialists who can discuss finance solutions for your individual requirements. This subtle shift in buyer confidence has concentrated the bulk of active demand beneath the local median price point. An evaluation of the local landscape reveals an extraordinary growth trajectory that has pushed annual capital gains to 26%. Perth home values jumped 2.1% in April alone, adding roughly $21,280 to the median dwelling value and leading the country in capital growth. For other dwellings in Perth (units, townhouses, apartments, terraces), the median price rose 1.8% in the quarter to $570,000, a 16.3% increase year-on-year.
Our pre-purchase building and pest inspections give you clear, independent advice before you commit – so you can buy with confidence. You’ll be assigned your home finance manager who’ll progress your application and answer all your questions. If you’re approved for the FHOG, you’ll usually receive the payment at settlement if you’re buying a newly-established home or at the first drawdown of funds for contracts to build a new home.
Perth Trusted Help for First Home Buyers
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