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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.
“The RBA decision to keep interest rates in restrictive territory today will not stop the improvement in leading indicators of future home building,” stated HIA Senior Economist Tom Devitt.
In mid-June 2025, the NSW Premier released the Housing and Productivity Contribution (HPC) Works-in-Kind Guideline for public consultation.
Today the State Government announced proposed changes to the regulatory powers to investigate registered builders who may be unable to meet the financial requirements of registration. The announcement also included a long-awaited review of the Home Building Contracts Act 1991 (HBCA) and associated laws.
Housing Industry Association welcomes today’s announcement by the Cook Labor Government to review key aspects of the home building contracts legislation and provide the building regulator with additional powers to work with builders in distress.