{{propApi.title}}
{{propApi.text}} {{region}} Change location{{propApi.title}}
{{propApi.successMessage}} {{region}} Change location {{propApi.title}}
{{propApi.text}} {{region}} Change location{{propApi.title}}
{{propApi.successMessage}} {{region}} Change locationHousing Industry welcomes new Keystart settings - WA
Housing Industry welcomes new Keystart settings - WA
Member and guest login
Enter your email and password to access secured content, members only resources and discount prices.
Did you become a member online? If not, you will need to activate your account to login.
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
Forgotten password
Need some help?
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
If the email address you have entered is registered, you will receive an email with further instructions.
Become part of the HIA community
Enables quick and easy registration for future events or learning and grants access to expert advice and valuable resources.
Create a guest account
Enter your details below and create a login
“With a 40% increase in the construction costs of a new home, continued growth in the established housing market, and a 30% decrease in borrowing capacity, a deposit for a new home has been harder to save for than ever,” stated HIA Executive Director Michael McGowan.
“For 30 years Keystart has been providing low deposit loans for Western Australians looking to own their own home, however conditions over the last two years have meant the volume of people that Keystart can help has significantly reduced.
“These changes will not only allow more people to consider home ownership but give Keystart flexibility in changing environments to stay relevant to the median house price.
“What we have seen over the last 12 months is that the ‘bank of mum and dad’ has been relied upon heavily to provide deposits and security to help their children into the housing market. These changes will help reduce that need and risk for Western Australian families.
“Keystart is a lender and must assess every application under strict ASIC guidelines that ensure a customer is able to service their loan. With increasing house prices, an increased salary threshold is needed to service the low deposit loan.
“Housing demand in the current environment remains strong but we must ensure we are continuing to look at options to make home ownership accessible for more Western Australians, and this is a positive step in the right direction.
Keystart has been the envy of the rest of the country for over 30 years and has helped more than 120,000 Western Australians into home ownership. These changes will make home ownership a realistic possibility for more people,” Mr McGowan concluded.
The new property price limits and income limits are as follows, effective 4 July 2024:
|
|
Previous property price limit |
New property |
Previous income limit |
New income limit |
|
Low Deposit Home Loan |
$560,000 |
$650,000* |
Singles: $105,000 Couples and families: $155,000 |
Singles: $137,000* Couples and families: $206,000* |
|
Shared Ownership Home Loan |
$412,000 |
$535,000 |
Singles: $70,000 Couples and families: $90,000 |
Singles: $113,000 Couples and families: $174,000 |
* The new limits apply throughout the State, excluding Kimberley and Pilbara regions as these areas have unique housing conditions and will be reviewed separately.
** Figures based on REIWA data as at 31 May 2024.
See full WA State Government statement here.
For more information please contact:
Discussion Paper on Inspection Policies for Proposed Practice Direction Updates
HIA provided a response to the Discussion Paper on Inspection Policies for Proposed Practice Direction Updates.
HIA welcomes new approach on Launceston Council staff hours
The Housing Industry Association (HIA) today welcomed the City of Launceston’s decision to take its proposal to reduce ordinary working hours to 30.4 hours per week off the table at this time, recognising the importance of maintaining council capacity to support local business, housing delivery, and the broader community.
Planning Scorecard reveals standout reformers amid housing target shortfall
The Housing Industry Association (HIA) has today released its 2026 Planning Blueprint Scorecard, revealing a growing divide between states embracing bold reforms and those stuck in a ‘business-as-usual’ approach.
Land prices a massive constraint on home building in Victoria
“Over the last 25 years, the price of the typical new residential lot of land in Victoria has risen more than four times faster than construction costs,” stated HIA Executive Director Keith Ryan.