Buying your first home in Perth is more achievable than many people think once you understand the help that is available. Between a state grant, a federal deposit scheme, a Western Australian government lender and stamp duty concessions, the support can add up to tens of thousands of dollars. This guide walks through each one in plain English, with the figures current as at June 2026.
Because the rules change and the dollar figures are reviewed regularly, treat the numbers below as a starting point and confirm current details with the relevant authority or with a broker before you commit.
WA First Home Owner Grant (FHOG)
The First Home Owner Grant is a one-off payment of $10,000 from the WA Government for eligible buyers who are buying or building a new home. It is administered by RevenueWA.
The key points for Perth buyers:
- It applies to new homes or homes that have been substantially renovated. It is not available for established homes.
- For transactions from 7 May 2026, the home value cap is $800,000 for properties south of the 26th parallel, which includes the entire Perth metro area.
- There is no income test and no assets test to qualify.
- You generally need to move in within 12 months and live there for at least six continuous months.
If you are buying an established home in Perth, you will not qualify for the FHOG, but you may still benefit from the stamp duty concession and the federal scheme below.
The First Home Guarantee (5% deposit, no LMI)
The First Home Guarantee (FHG) is a federal scheme that lets eligible first home buyers purchase with as little as a 5% deposit without paying lenders mortgage insurance (LMI, the one-off insurance you normally pay when you borrow more than 80% of the property value). The government guarantees the gap between your deposit and 20%.
This scheme changed significantly from 1 October 2025. The previous income limits and the annual cap on places were removed, so it is far more widely available than it used to be. The main condition that remains for Perth buyers is the property price cap, which is $850,000 for Perth.
For many first home buyers this is the single biggest lever, because saving a 20% deposit in Perth’s market can take years, and avoiding LMI can save thousands. Your broker can confirm which lenders on the panel participate in the scheme and whether your situation fits.
Keystart: the WA Government’s low-deposit lender
Keystart is a lender owned by the WA Government, created to help people who can service a loan but struggle to save a large deposit. It is specific to Western Australia and is worth understanding even if you end up with a mainstream lender. For the full picture, see our Keystart home loans Perth guide.
As at early 2026, Keystart offered loans with as little as a 2% deposit and no LMI, with income limits of roughly $155,000 for a single applicant and $228,000 for a couple or family, and a Perth metro property price cap of around $860,000. These figures are reviewed periodically, so confirm the current limits before relying on them.
Keystart is not always the cheapest option over the long term, and many buyers refinance to a mainstream lender once they have built up equity. A broker can help you weigh a Keystart loan against the First Home Guarantee and standard low-deposit products. For a deeper look at how lenders work out what you can afford, see our guide on how much you can borrow.
WA stamp duty concession for first home buyers
Stamp duty (officially transfer duty) is often the largest upfront cost after your deposit. Western Australia offers a first home owner rate of duty that can reduce or remove it entirely.
Under changes announced on 7 May 2026 (which are subject to the parliamentary process, so verify the current thresholds with RevenueWA), first home buyers pay:
- No transfer duty on a new or established home valued up to $600,000.
- A concessional rate for homes valued between $600,000 and $800,000.
On a typical Perth purchase this concession can be worth many thousands of dollars, so it is important to factor it into your budget and your borrowing calculations. You can estimate the duty on a given price with our WA stamp duty calculator.
How the schemes work together
These programs are not mutually exclusive. Depending on your situation and whether you buy new or established, you may be able to combine several of them. A common example for a new home in Perth might involve the $10,000 FHOG, a 5% deposit under the First Home Guarantee, and the stamp duty concession, all on the same purchase.
The combinations that apply to you depend on the property type, the price, the lender and your eligibility, which is exactly the kind of thing a broker sorts out before you start making offers. If you are getting started, our first home buyer service page explains how the matching process works, and our home loans overview covers the loan types available.
What to do next
A sensible order of events for most Perth first home buyers looks like this:
- Work out a realistic budget, including the deposit, stamp duty after the concession, and other costs.
- Get a clear picture of your borrowing power and which schemes you qualify for.
- Obtain pre-approval so you can make offers with confidence.
- Find the property, then let the lender and conveyancer handle settlement.
Brokers across Perth, from the CBD to the suburbs, can guide first home buyers through each step. If you would like to be matched with a broker who knows the WA schemes, get in touch and tell us a little about your plans.
Last updated 2026-06-26.
This information is general in nature and does not take into account your personal circumstances, objectives or needs. It is not financial or credit advice. Grant and scheme figures are current as at June 2026 and may change. Confirm current details with the relevant authority (such as RevenueWA or the scheme administrator) and seek independent advice before acting. Perth Home Loan Broker is an enquiry website; licensed mortgage brokers provide all credit advice under the National Consumer Credit Protection Act 2009.