Scheme expanded to help more first home buyers

• More first home buyers to benefit from $2,000 grant
• Increased eligibility up to $500,000 property purchase price

The Cook Government has expanded a grant scheme to help more Western Australians achieve their dream of home ownership.

The Home Buyers Assistance Account (HBAA), administered by Consumer Protection, provides a grant of up to $2,000 for eligible first home buyers in WA, but previously only covered properties bought for $400,000 or less. That threshold has now been raised to $500,000.

To be eligible, the property must be purchased through a licensed real estate agency operating in WA. the applicant's primary residence for at least 12 months, be an established or partly built home, and the application submitted within 90 days of settlement.

Funded by the interest derived from the trust accounts of real estate agents, the HBAA grant helps first-time buyers cover costs such as stamp duty, legal fees and mortgage insurance.

So far this financial year, the HBAA has distributed a total of $422,297.87 to 217 first home buyers.

More information on HBAA grant, including the full criteria and application form, is available on the Consumer Protection website. Enquiries can be made by contacting Consumer Protection via email at consumer@demirs.wa.gov.au or by calling 1300 30 40 54.

Comments attributed to Commerce Minister Sue Ellery:

"The Cook Government is helping more Western Australians take the first step on the property ladder by expanding this scheme to include homes bought for $500,000 or less.

"First home buyers who previously missed out on the scheme due to property value limits between $400,000 and $500,000 are encouraged to apply now if eligible and still within 90 days of settlement."

Comments attributed to Housing Minister John Carey:

"Our Government is doing everything we can to boost housing supply across the State through our record $3.6 billion investments in housing and homelessness measures.

"We're also driving a range of reforms to support more Western Australians achieve their home-ownership goals, whether it's through key stamp duty reforms, new Keystart loan products or through lifting property price limits to support first homebuyers."