The raised property price cap is particularly significant for Perth, where the median house price has now passed $800,000 according to REIWA (Current August 26, 2025). It also helps regional buyers in growth areas like Bunbury, Albany, and Geraldton, where prices have climbed sharply in the past two years. The expanded scheme also means there'll be more people in the market for home ownership, which could fuel property prices.
These concessions are designed to make the purchase of a Mining Industry Home Loans WA residential property more affordable for first-time buyers. The deposit required can vary depending on your financial circumstances and the type of loan you opt for. However, we do offer low-deposit home loan options for those who might find it challenging to save money for a large deposit whilst paying rent. Our in-house finance experts at Snap Finance are here to guide you through the process and help you find the most suitable solution for your needs. Terms, conditions and fees for accounts, programs, products and services are subject to change without notice. All loans and offers are subject to standard underwriting guidelines and required conditions.
New research from Money.com.au reveals that the most common regret (22%) cited by first-home buyers is paying too much in loan processing and ongoing fees. It usually takes years to save enough for a house, so the sooner you start, the better. Using a high-interest savings account or term deposit with a high rate can help you grow your savings faster. Lenders typically require evidence of genuine savings accumulated over time and often ask for bank statements as proof. Our team of seasoned finance professionals has in-depth knowledge of the Australian property market and is well-versed in the intricacies of various government schemes and grants. Are you dreaming of stepping onto the property ladder in Australia’s vibrant capital with guidance aligned to first home builders Perth?
Tens of thousands of Australians are staring down the barrel of a housing horror show, with experts warning a potential downturn could send new homeowners into negative equity. "This tax package will help even more first-time buyers get into themarket, ensuring even more Western Australians can have the security a homeprovides." Half of Australia’s suburbs have a median house value equal to or below the new price caps, while 93 per cent of suburbs have a median unit value equal to or below the new price caps. That includes Sydney, where $880,777 is the median apartment price, Cotality data showed.
Thus, recent first home buyers in these two markets face the real prospect of falling into both mortgage stress and negative equity. Recent first-home buyers who leveraged themselves to purchase in Sydney and Melbourne should be feeling especially vulnerable, given that home prices in these two markets are facing imminent price falls. Each state and territory has information and support for first home buyers. You may be eligible for a grant from your state or territory government. Commonwealth Bank (CBA) allows first home buyers to include income from renting out a bedroom (Boarder Income) to help service their home loan. This policy permits customers up to $150 per week in rental income for loan serviceability, with one boarder arrangement allowed.
‘Mortgage Insurance’ is a different type of insurance, that protects borrowers in the event that their circumstances changes, and the loan repayment goes into default. You will also need to meet the lending requirements of a participating bank or lender to service a home loan. Finding the deposit for your first home can be a challenge, with most lenders currently requiring a minimum 20% deposit. But with a First Home Loan you only need a 5% deposit, which means getting into your first home is that much easier.
Instead of a deposit, there are other ways you can get approved for a 100% home loan. Based in Perth, Elite Finance Australia serves clients across Western Australia, offering expertise in local market conditions and lending requirements. Whether you're purchasing your first home, refinancing, or expanding your investment portfolio, Habitat Finance delivers personalized service that turns mortgage complexity into confidence. Customers consistently praise Habitat Finance for their patient, knowledgeable approach and ability to secure competitive rates that align with individual financial goals. The team handles maximum paperwork, streamlines complex applications, and maintains constant communication throughout the process.
Contact us and enquire how we can make your dream a reality sooner than what you could have imagined or ever possible. Obviously, this analysis hasn’t factored in a second, or possibly even a third, rate hike this year, which would lift mortgage stress back towards its recent peak in mid-2024. Through the scheme, you make voluntary contributions of money into your super fund. You then ask for these funds when you’re ready to buy your first home.
The First Home Owner Grant in Western Australia is $10,000 for eligible first-home buyers to buy or build a new home. Dutton shares that Stockland has several new communities that will provide an attractive alternative to paying rent in established suburbs. Flaherty points to fierce competition and a long-term shortage of new homes as key reasons behind rising prices.
They can save you time and hassle by taking care of all the legalities typically involved in the process, or that may arise during the course of the settlement. They will also provide you with peace of mind, knowing that everything is being handled correctly and in accordance with the law. Conveyancing is the legal process of transferring ownership of property from one person to another. Our experienced team can guide you through complex transactions or disputes during your property transaction, including strata title properties and off-the-plan purchases. We provide personalised service based on your unique requirements, ensuring you make informed decisions. Under the changes, all first home buyers will have access, with no caps on places or income limits.
My read is that the market was already moderating before any of this happened. New builds remain fully exempt - investors who buy newly constructed properties can still negatively gear and choose between the old or new CGT treatment. You can either apply for a First Home Loan pre-approval or a final approval.
We pride ourselves on providing personal, high-quality service to all clients from large scale businesses to first-time borrowers. At Whiteroom Finance, we deliver tailored solutions specifically to suit your needs and goals. Your lender will issue you with a complete set of mortgage documentation.
“They are facing the loss of whatever equity they now have and a lifetime grind of principal and interest,” Mr Kohler wrote in his analysis. “It’s a real issue for anyone that wants to change their home or borrow money elsewhere,” the analyst said. However, they had now found themselves in a financially risky position with limited options.
I would 100% recommend them to anyone as they are people you can trust. Applying for a construction loan can seem confusing, but with an experienced finance broker it doesn’t have to be. Gerry can help you understand how construction finance works and help you with all of the paperwork required. This offer is available to owner-occupiers and investors, and it’s not limited to first-home buyers. As you build equity in your new property and pay down the loan, the guarantor can eventually be released from the agreement.
Perth Trusted Help for First Home Buyers
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5 min read
