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First home buyers are driving the Western Australian market recovery,
with data released from the WA Government revealing a near record $6 million
dollars in Home Buyers Assistance Account (HBAA) grants was paid out last
REIWA President Damian Collins said
it was very pleasing to see that the WA Government had helped more than 3,000
West Australians secure their first home during the 2020-21 financial year.
“The dream of home
ownership is still alive and well in WA. While in many parts of Australia,
particularly the east coast, first home buyers are being priced out of the
market, WA is the most affordable place in the country to buy your first home,"
Mr Collins said.
The WA Government's HBAA scheme
provides a grant of up to $2,000 for eligible applicants and distributed a
total of $6.035 million to 3,093 first home buyers in the 2020-21 financial
year, which is close to the record of $6.3 million handed out in 2012-13.
The Real Estate
Institute of Australia’s Housing Affordability Report supported these
findings, with March 2021 quarter data showing the number of first home buyers
in WA increased 105 per cent over the last year and they accounted for 48.5 per
cent of all sales in the state’s owner-occupier market.
“WA had the highest
portion of first home buyers in its owner-occupier market of any state in the
country during the March 2021 quarter. It’s wonderful that so many West
Australians were able to move into home ownership during the last year. REIWA
commends the WA Government for helping make home ownership more attainable for first
home buyers," Mr Collins said.
Looking for your first home? Learn more with our WA first home buyer guide.
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