First Home Owners Receive Boost for 2017

First Home Owners will receive a welcome boost during 2017, with the WA Government announcing a $5,000 increase to the First Home Owners Grant.

The WA Government kicked off the new year with a bang, announcing an increase to the First Home Owners Grant as well as Keystart lending criteria. The $15,000 boost is a welcome relief to those struggling to buy their first home.

• The grant has increased by $5000, up from $10,000 and will take effect from January 1,2017 for 12 months.
•  The metropolitan income limit for Keystart loans has been increased by $20,000 and will also come into affect in the new year. 

WA Premier Colin Barnett says both measures will not only help struggling first homebuyers enter the market but also stimulate the housing construction sector and create more jobs. "We are conscious about housing affordability and this boost will provide more families an opportunity to get into the housing market," Mr Barnett said.

"We are committed to creating and supporting jobs for West Australians, so this carefully targeted measure will not only provide more employment opportunities for every tradie in your neighbourhood, but we expect an extra 650 WA first homebuyers to buy or build a new home."

"The new $5,000 boost payment will apply to contracts entered into between January 1, 2017 and December 31, 2017 for the purchase or construction of a new home." - Finance and Small Business Minister, Sean L'Estrange