Is The First Home Owners Grant Going To Increase In Western Australia?

This is a question I am getting asked all the time, Is the first home owners grant going to increase in Western Australia?

It is a good question, while I really don’t know for sure, I was speaking to a reliable source and was told that maybe there is a consideration that the first home owners grant may increase. There is no doubt that in Perth at the moment, the housing market is pretty flat, so an increase in the grant may help boost the real estate market.

I was advised that there is a consideration from the West Australian state government that the first home owners grant may increase from the current $7,000 to $20,000 for constructing a home only. Maybe bad news if you are thinking about purchasing an established home, but it might be great news if you are thinking about building a home and for the construction industry.

I think there are some good advantages if the first home owners grant is increased for constructing a home. Firstly, if there is a housing shortage, then it increases housing stock, especially as it looks like the mining boom has no indication of slowing. The other positive for the first home owners grant being increased for construction, is that it keeps people in jobs, it helps create employment in the building industry, a real plus, in my opinion.

This is not to say that I am against an increase in the grant for established homes, I was only advised, that at this stage, the consideration for an increase in the grant is for construction of a home only.

While only rumours at the moment, and I really am not sure if the first home owners grant will increase, I will let you know if it does happen.