WA’s leading home builder, ABN Group Managing Director Dale Alcock has today congratulated the State Government on a six-month housing stimulus targeted at getting home buyers into the housing market in 2019.
“Potential home buyers should jump on this opportunity, especially those who may not have been able to secure finance previously – this is your chance!
“There has never been a better time to buy a new house in WA, there is a choice of affordable land and homes to suit your lifestyle. Don’t let this opportunity slip by,” Mr Alcock said.
The McGowan Government initiative will help potential home owners experiencing difficulty in securing finance, by temporarily relaxing State Government-owned mortgage lender, Keystart, criteria to allow more people into the scheme.
“The stimulus has the potential for 500-600 additional homes to be purchased over the six month timeframe. This could mean an additional 400-500 new homes built before the end of the year which is a massive positive for home buyers as well as WA.
“It’s a positive for our economy in the flow on effect of boosting our land development industry, building and construction industry, increase employment of apprentices and tradespeople. This is a boost for our State,” Mr Alcock said.
The targeted stimulus will run between July 1 through to December 31 this year and will help West Australians experiencing difficulty in securing finance to buy or build a home.
Keystart’s existing income limits will increase by $15,000 for singles and couples and by $20,000 for families from July 1, 2019 to December 31, 2019, giving more people access to loans. The income limits will revert to the current levels from January 1, 2020.