Buying your first home in WA is about to get a whole lot easier. From 1 October 2025, the Australian Government is rolling out the 5% Deposit Scheme, removing key restrictions and increasing support for first home buyers across the country — including right here in WA.
🏡 What Is the 5% Deposit Scheme?
The Home Guarantee Scheme helps eligible first home buyers purchase a property with as little as 5% deposit, without paying Lenders Mortgage Insurance (LMI). The government guarantees up to 15% of the property’s value, making home ownership more accessible.
🚨 What’s Changing from 1 October 2025?
The updates coming into effect are designed to make the scheme more inclusive and flexible:
- Unlimited Places: No more caps on the number of applicants — if you’re eligible, you can apply.
- No Income Limits: Higher-income earners can now access the scheme.
- Higher Property Price Caps: WA – Capital City: Up to $850,000.
💰 Other Grants & Support Available in WA
WA buyers can also take advantage of state-based grants to further reduce the cost of buying a home:
- First Home Owner Grant (FHOG) *- A one-off payment of $10,000 for eligible buyers building a new home.
- Keystart Loans* – WA’s unique low-deposit home loan option features:
- Deposit as low as 2%*
- No LMI*
- Stamp duty Concessions available*
📋 How to Apply
- Home Guarantee Scheme: Apply through a participating lender.
- FHOG: Apply via your lender or directly through RevenueWA.
- Keystart Loans: Apply through the Keystart website or speak with a broker.
With expanded eligibility, higher property price caps, and multiple grants available, WA first home buyers are in a stronger position than ever to enter the market. These changes offer greater flexibility, reduced upfront costs, and more opportunity — so why not start exploring a Peet community today and take the first step toward building your dream home in a place designed for your future.
View available land and house and land packages at Elavale Estate here.
*Eligibility criteria applies. Visit https://firsthomebuyers.gov.au/australian-government-5-percent-deposit-scheme for more information.
All content provided within this webpage is for information purposes only. While Peet endeavours to ensure all information is current and correct, Peet makes no representation or warranty as to its currency or accuracy. It is recommended that you obtain your own independent advice before taking any action, including before making any commitment of a legal or financial nature or making any application for a financial product or service. Peet makes no representation as to whether a particular financial product or service is suitable to you or you will be successful in obtaining a financial product or service or purchasing a house and/or land.
