REIWA President Suzanne Brown has commended the funding of several new Keystart products in the State Budget 2025-26, acknowledging the potential boost to housing affordability and supply.
“Housing supply and affordability are some of the greatest challenges facing the property market at the moment,” Ms Brown said.
“Innovative solutions are needed to help build affordable new homes. Modular homes can be more affordable and built more quickly than a traditional build.
“Keystart’s low deposit modular loan product will make this type of build more accessible for home buyers, which may help boost new home supply.
“This could be particularly beneficial in regional WA, where it is harder to get tradespeople and building costs have risen significantly.”
Ms Brown also acknowledged the introduction of a shared equity loan program.
“This program will see the State Government purchase an equity share of up to 35 per cent of the home’s value, to a maximum of $250,000,” she said.
“Strong property price growth over the past few years has made saving a deposit and purchasing a home more difficult for many people and this scheme will help make home ownership more achievable for those struggling to get their foot on the property ladder.”
In addition, Ms Brown said REIWA welcomed the introduction of the Build to Rent Kickstart Fund, which will provide up to $72 million in no-interest construction loans and low interest loans for up to 10 years to assist in the delivery of build-to-rent projects.
“There is a strong need for government investment in policies that will create more rental homes, particularly more affordable and social homes,” she said.
“Build-to-rent is an innovative solution that will create more rental supply but the current constraints in the building industry mean these projects are not cost-effective for institutional investors. We greatly need support in this space to deliver these projects and help prevent a return to the challenging rental conditions of the past few years.
“We know this investment won’t have an immediate impact on the market, but it is a move in the right direction and will help meet future demand as our population continues to grow.”
