Buying your first home in Perth has never been easy, but recent State and Federal Budget announcements have introduced new measures designed to help more Western Australians enter the property market.
From increased stamp duty concessions to low deposit finance schemes, first home buyers now have access to more support than ever before. Understanding how these changes work could save you thousands of dollars and help you get into your first home sooner.
WA State Budget changes for first home buyers
The 2026 WA State Budget introduced one of the biggest first home buyer support packages in recent years, helping thousands of Western Australians achieve home ownership sooner.
Higher stamp duty thresholds
One of the most significant changes is the increase to stamp duty concessions for first home buyers.
Eligible buyers purchasing homes in Western Australia now pay:
- No stamp duty on homes valued up to $600,00
- Reduced stamp duty on homes valued up to $800,000
- No stamp duty on vacant land up to $450,000
- Reduced duty on vacant land up to $550,000
Increased first homeowner grant eligibility
The WA Government has also increased the property value cap for the first homeowner grant from $750,000 to $800,000.
This means more buyers building or purchasing eligible new homes may now qualify for financial assistance, particularly those considering house and land packages.
Federal Budget measures supporting home ownership
The 2026 Federal Budget introduced initiatives aimed at improving affordability and helping Australians overcome deposit barriers.
The ‘Help to buy’ shared equity scheme
Under the Help to Buy scheme, eligible buyers may be able to purchase a home with as little as a 2% deposit.
The Australian Government contributes up to:
- 40% of the purchase price for new homes
- 30% of the purchase price for existing homes
Because buyers borrow less from the bank, mortgage repayments may become more affordable.
For many Perth first home buyers, this scheme could help bring home ownership within reach sooner.
Support for low deposit buyers
The Federal Government continues to support low deposit lending pathways through various first home buyer initiatives.
Some eligible buyers may be able to purchase a home with a smaller deposit while avoiding lenders mortgage insurance, reducing upfront expenses.
Finance options available to Perth first home buyers
Understanding your finance options is just as important as understanding available grants and incentives.
Low deposit home loans
Some lenders offer home loans with deposits as low as 5%, and in certain circumstances even lower through government-backed programs.
Low deposit loans can help buyers enter the market sooner, although it is important to understand the impact on repayments and borrowing capacity.
Construction loans
Construction loans are commonly used when building a new home or purchasing a house and land package.
Funds are released in stages throughout construction, meaning buyers only pay interest on the amount drawn down during the build.
Shared equity schemes
Shared equity arrangements reduce the size of the mortgage by allowing another party, such as the government, to contribute towards the purchase price.
This can improve affordability and increase borrowing capacity for eligible buyers.
Guarantor loans
Some buyers may be able to use a family guarantor to help secure their loan.
This can reduce or eliminate the need for lenders mortgage insurance and may allow buyers to purchase sooner with a smaller deposit.
What these Budget changes mean for Perth buyers
The combination of increased stamp duty savings, grants and flexible finance options creates more opportunities for first home buyers to enter the Perth property market.
Buyers considering building may benefit even further, particularly when purchasing a house and land package that qualifies for available incentives.
However, demand for affordable homes in Perth remains strong. Understanding your borrowing power and available support is key to making the most of these opportunities.
Taking the next step towards home ownership
Speaking with a finance specialist early in the process can help you understand which grants, schemes and loan products you may be eligible for.
With the right advice and support, your first home may be closer than you think.