- Cook Labor Government's Pre-sale Guarantee to unlock more than 1,000 new apartments and townhouses
- $250 million committed in 2026-27 State Budget, which is focused on delivering more homes for Western Australians
- Pre-sale Guarantee to encourage more affordable apartment development and unlock stalled projects
- Keystart's property price limits adjusted to help more Western Australians into a home of their own
The Cook Labor Government will invest $250 million in the 2026-27 State Budget to underwrite pre-sales in new apartment developments as part of a bid to get more homes built sooner across the State.
The Pre-sale Guarantee is expected to unlock up to 1,200 new apartments and townhouses by tackling one of the most significant financial barriers to housing development in WA - high pre-sale requirements.
As part of financial terms, banks and other lenders can mandate projects sell a high proportion of homes in a development before they will provide construction funding. This can significantly delay construction from starting, or even make projects unviable.
Under the Cook Labor Government's Pre-sale Guarantee, Keystart will provide a guarantee to purchase up to 50 per cent of unsold homes in an apartment development upon completion, to help projects meet pre-sale requirements and get on with construction.
The guarantee will lapse if proponents sell those apartments as construction progresses. If the guarantee is called, Keystart will purchase the homes at a minimum 10 per cent discount on market value in the metro area and 7.5 per cent in the regions.
The State Government would then make eligible apartments available for Keystart customers through the $210 million Urban Connect Shared Equity program, which supports Western Australian homebuyers into a home of their own with a low deposit and lower ongoing mortgage repayments, or to other State Government housing programs.
To drive housing affordability, developments supported through the scheme will be required to sell at least 30 per cent of homes within the project at prices below Keystart's property price limit - which is pegged to the REIWA median house price for Perth.
The Cook Labor Government will offer different eligibility criteria for developments in regional WA to encourage regional housing supply, including offering a higher guarantee proportion and lower purchase discount rate.
Up to $250 million in guarantees will be available through the initiative, which is expected to open for applications in the second half of 2026.
The State Government has also today announced an update to Keystart's product settings, to help even more Western Australians into a home of their own.
Keystart's property price limit for its low deposit loans will be increased from $800,000 to $860,000 across the State, reflecting changes in REIWA's median house price.
Price limits for the Urban Connect Shared Equity scheme will increase from $730,000 to $800,000, while limits for Keystart's other shared equity products will increase from $660,000 to $720,000.
For more information on the Pre-sale Guarantee, visit www.keystart.com.au/PSG
As stated by Premier Roger Cook:
"My government's vision is to ensure every Western Australian has a home.
"In this year's Budget, we are prioritising housing, including unlocking and delivering more land supply, building more homes for Western Australians and helping first home buyers get into the market.
"Our new Pre-sale Guarantee will support even more Western Australians into homeownership through Keystart."
As stated by Treasurer Rita Saffioti:
"The Cook Labor Government is laser focused on delivering more homes for Western Australians, including getting more apartments and townhouses built for young people and downsizers.
"Too often we see shovel-ready apartment developments stall because they can't meet pre-sale requirements set by the banks.
"The new Pre-sale Guarantee will remove that barrier, accelerate construction and get more affordable homes built sooner.
"We're throwing everything at getting more apartments and townhouses built - reforming our planning laws, releasing land, funding enabling infrastructure, tackling the barriers to finance, and supporting homebuyers through off-the-plan stamp duty concessions and the Urban Connect Shared Equity scheme."
As stated by Housing and Works Minister John Carey:
"The Pre-Sale Guarantee is an innovative move to help get more apartment developments off the ground, accelerating the supply of much-needed density projects.
"It will help more young people purchase their first home and provide opportunities for those who want to downsize.
"Housing is the number one priority of this year's State Budget and this $250 million initiative is another demonstration of that."
