- More first home buyers to benefit from $2,000 grant
- Increased eligibility up to $500,000 property purchase price
The Cook Government has expanded a grant scheme to help more Western Australians achieve their dream of home ownership.
The Home Buyers Assistance Account (HBAA), administered by Consumer Protection, provides a grant of up to $2,000 for eligible first home buyers in WA, but previously only covered properties bought for $400,000 or less. That threshold has now been raised to $500,000.
To be eligible, the property must be purchased through a licensed real estate agency operating in WA. the applicant's primary residence for at least 12 months, be an established or partly built home, and the application submitted within 90 days of settlement.
Funded by the interest derived from the trust accounts of real estate agents, the HBAA grant helps first-time buyers cover costs such as stamp duty, legal fees and mortgage insurance.
So far this financial year, the HBAA has distributed a total of $422,297.87 to 217 first home buyers.
More information on HBAA grant, including the full criteria and application form, is available on the Consumer Protection website
