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HIA congratulates the McGowan Government on today's announcement to increase the Keystart property purchase price limits from $480,000 to $560,000.
HIA WA Executive Director Michael McGowan said the changes are an important step to ensure the Keystart purchase limits remain relevant and in step with the rising cost of construction that industry and consumers have incurred over the last two years.
“With a 40 percent rise in the cost of construction over the last two years the previous limits were making it challenging for home buyers to get into the market. The increase now allows consumers to access Keystart services to purchase homes up to $560,000, providing more options for homebuyers in the current market.
“While new home sales have slowed over the last six months, we know there is still a significant demand for new homes and making home ownership more achievable is vitally important for the development of our state.
“Keystart remains a critical part of the WA Housing market and this change will provide more West Australians with the opportunity to achieve home ownership,” said Mr McGowan.
“New home building approvals in the 2024/25 financial year were up by 13.9 per cent compared to their 2023/24 trough,” stated HIA Senior Economist Tom Devitt.
HIA is calling on the Federal Government to act urgently to support Australia’s building product manufacturers and suppliers, an industry worth more than $130 billion and critical to the delivery of new housing across the country,” HIA Managing Director, Jocelyn Martin said today.
With the delay to decisions on the content of NCC 2025, the ABCB has published a further amendment to the current NCC 2022 which applies from 29 July 2025. The purpose of this minor amendment is to align the NCC with recent changes to the Premises Standards which apply to Class 3 to 9 public buildings, common areas of Class 2 apartment buildings and short-term accommodation
“HIA alongside a group of construction leaders and Standards Australia came together today at Parliament House, to present a united front in getting easier access to Australian Standards in the hands of those who need them most,” said HIA Managing Director, Jocelyn Martin.