Buying Your First Home in Perth? Here’s What You Should Know in 2025
By Brett White, Managing Director – RE/MAX Extreme
The dream of owning your first home in Perth is still very much alive—especially if you know what support is available. With property values rising steadily across WA, including many of Perth’s northern suburbs, it’s understandable that some first-home buyers are feeling a little daunted. But the good news is, there are several local and national programs designed to help you take that important first step.
WA’s First Home Owner Grant – Not Just for New Builds
Many Perth buyers are familiar with the First Home Owner Grant (FHOG), which offers a $10,000 payment for eligible buyers purchasing or building a brand-new home. What’s less known is that the FHOG can also apply to properties that have undergone significant renovations—as long as it’s your primary place of residence.
In areas like Alkimos, Yanchep, and Banksia Grove, new developments and house-and-land packages continue to emerge, meaning more opportunities to qualify for the grant locally.
Help With Upfront Costs
There’s more support beyond the FHOG. Eligible first-home buyers in WA can also receive up to $2,000 from the First Home Buyers Assistance Account to help with costs such as settlement fees, mortgage registration, and inspections. These are often overlooked expenses that can impact your budget.
No Stamp Duty on Homes Up to $500,000
As of March 2025, first-home buyers purchasing a property under $500,000 in Perth will pay no stamp duty—a potential saving of up to $18,000. Homes valued up to $700,000 will also benefit from reduced duty.
This is especially helpful in Perth’s outer-northern suburbs, where the median house price remains below the $700,000 threshold but continues to rise. Areas like Butler, Clarkson, and Ridgewood are seeing strong buyer activity, and this change makes them even more appealing for first-home buyers.
Keystart – WA’s Own Low-Deposit Home Loan
For those who may struggle with saving a 20% deposit or face difficulties securing finance through traditional banks, WA’s own Keystart program offers an alternative. With a minimum deposit requirement of just 2% and no lender’s mortgage insurance, Keystart has helped thousands of local buyers into their first home.
In December 2024, the maximum property price for Keystart loans in Perth was increased to $730,000, reflecting the growth in house prices. This broader cap now allows access to more homes across our coastal northern corridor.
Current income limits for eligibility are $148,000 for singles and $218,000 for families*, which covers a large portion of Perth’s working population.
Shared Ownership loans through Keystart are also available for buyers who want to reduce their mortgage size, although these have different caps and criteria.
National Programs That Complement WA Support
The Federal Government’s Home Guarantee Scheme provides a safety net for eligible first-home buyers by guaranteeing up to 15% of the loan. This allows you to buy with a smaller deposit and no lenders mortgage insurance.
The Help to Buy program, also federally backed, is expected to roll out soon and will offer shared equity opportunities. It features a higher property cap for metropolitan Perth, giving buyers greater purchasing flexibility. However, it’s worth noting that income limits are lower than WA’s Keystart program.
What It All Means for Buyers in Perth’s Northern Suburbs
From Mindarie to Tapping and everything in between, the northern suburbs continue to attract buyers for their lifestyle, access to beaches, schools, and transport links. As house prices increase, these grants and incentives make it more achievable to enter the market before affordability becomes a larger hurdle.
Whether you’re looking to buy a brand-new home in a master-planned community or considering a recently renovated established property, these government programs are designed to give first-home buyers a much-needed leg up.
Final Thoughts
Buying your first home in Perth is a big step—but it’s a step made easier with the support of State and Federal incentives. The key is understanding what you’re eligible for and acting while these opportunities are available. With strong demand and limited stock in many northern suburbs, being prepared can make all the difference.
If you’re ready to take that next step or want help navigating the options available to you, the Brett White Team at RE/MAX Extreme is here to help guide you through the process.
Disclaimer: The above is intended as general information only, and prospective buyers understand they need to make their own enquiries with the relevant bodies as to eligibility criteria etc.
Source: REIWA (Real Estate Institute of Western Australia)