Changes to Keystart make home ownership more accessible

May 16, 2023, 09:08 AM

REIWA CEO Cath Hart has commended the State Government’s decision to expand Keystart’s Urban Connect Home Loan program to include one-bedroom apartments.

Title : Changes to Keystart make home ownership more accessible

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News date : May 16, 2023, 09:01 AM

REIWA CEO Cath Hart has commended the State Government’s decision to expand Keystart’s Urban Connect Home Loan program to include one-bedroom apartments.

“Keystart plays a valuable role in helping people achieve home ownership through its range of low-deposit loans, which also don’t require Lenders Mortgage Insurance,” Ms Hart said.

“Increasing the options available will make buying a home accessible to more people.

“The initiatives, which were announced as part of the 2023-24 Budget, are focused on apartments and will also help increase housing supply and diversity.”

Keystart’s Urban Connect Home Loan program targets medium and high-density living in urban locations and close to rail transport hubs, with a price cap of $650,000.

With one-bedroom apartment purchases now eligible for a low-deposit loan with Keystart, potential home owners more choice in where they live and what they can buy.

Funding for off-the-plan apartment deposits will also be introduced.

“This support for off-the-plan purchases is complemented by the changes to the off-the-plan transfer duty concession, which sees buyers receive a 100 per cent concession on purchases up to $650,000,” Ms Hart said.

“This is a significant saving for buyers and will encourage off-the plan purchases, supporting development of these projects. This will increase housing diversity and supply, and provide more opportunities for people to buy a home and get their foot on the property ladder.”

contenttypes : News

topics :

Housing affordability
Perth

audiences :

Experienced buyer
First home buyer

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