- $250 million Pre-sale Guarantee now open for applications
- Cook Labor Government helping more apartment and townhouse projects overcome financial barriers and start construction sooner
- Scheme expected to unlock up to 1,200 new homes across WA
- Part of a record $4.7 billion housing investment in the 2026-27 State Budget
Applications are now open for the Cook Labor Government's $250 million Pre-sale Guarantee, delivering on a key 2026-27 State Budget initiative expected to unlock up to 1,200 new apartments and townhouses across Western Australia.
The Pre-sale Guarantee tackles one of the biggest financial barriers to apartment and townhouse developments - requirements from banks for projects to sell a significant proportion of homes in a project before they will provide funding.
This can significantly delay construction from starting or even prevent housing projects from going ahead.
Under the Pre-sale Guarantee, Keystart will provide a guarantee to purchase up to 50 per cent of unsold homes in a development upon completion to help projects meet pre-sale requirements so they can begin construction sooner.
If proponents sell those homes as construction progresses, the guarantee will lapse at no further cost to the proponent or the State Government.
If the guarantee is called following completion, Keystart will purchase the homes at discount rate on market value.
The State Government will then make eligible apartments available for Keystart customers to purchase through the $210 million Urban Connect Shared Equity program, through the open market, or through other government housing programs.
The Urban Connect Shared Equity program supports Western Australians to purchase a home of their own by the government taking an equity share in the property, with homebuyers paying a 2 per cent deposit and lower ongoing mortgage repayments.
The Pre-Sale Guarantee will encourage affordable housing development by requiring a portion of homes in a project to be made available to the market at prices below Keystart's headline property price limit.
To support regional housing supply, Keystart will offer higher guarantee levels - up to 60 per cent of homes in a project - lower purchase price discounts, and lower minimum dwelling requirements for projects in regional WA.
The WA Labor Government is delivering record investment in housing and homelessness measures, with $10.8 billion committed since 2021 to ensure every Western Australian has a home.
Applications open today and will remain open on an ongoing basis. For more information or to apply, visit www.keystart.com.au/psg .
As stated by Treasurer Rita Saffioti:
"The Cook Labor Government is committed to building more homes for Western Australians and this innovative scheme will help industry do just that.
"We know high pre-sale requirements can hold up or even prevent apartment and townhouse projects from going ahead.
"This scheme removes that barrier by helping developers meet their bank pre-sale requirements so they can start building sooner and bring more homes to the market.
"This is just one of the ways our government is unlocking and fast-tracking housing supply and supporting more Western Australians into a home of their own."
As stated by Housing and Works Minister John Carey:
"The Pre-sale Guarantee is part of the Cook Labor Government's plan to support more higher density affordable housing projects in well-serviced locations.
"This will help more people into their first home and provide more opportunities for people to downsize.
"This announcement complements everything we are doing to boost the supply of housing - including enabling greater density through our planning reforms, delivering more than 4,300 social and affordable homes, and our unprecedented investment in more than 40 Build-to-Rent projects."
