REIWA welcomes the launch of Keystart's $250 million Pre-sale Guarantee scheme.
President Rob Mandanici said the scheme, which was announced in the 2026-27 State Budget would support the delivery of affordable and diverse housing options, helping more Western Australians achieve home ownership.
"One of the significant challenges for the housing market over the past few years has been the delivery of new supply, particularly affordable housing," he said.
"Medium- and high-density developments such as apartments, home units and townhouses provide more choice for buyers and tend to be more affordable than a house. However, financial constraints, particularly the need to sell a certain number of dwellings before construction can begin, has hindered the delivery of many projects.
"In the apartment market over the past few years, it has mainly been luxury developments that have been financially viable for developers. However, this hasn't helped the majority of buyers.
"By guaranteeing to purchase up to 50 per cent of unsold homes in a development upon completion and requiring a portion of those homes be made available at prices below Keystart's headline property price, the Pre-sale Guarantee will ensure projects offering affordable housing will be built.
"We appreciate the scheme isn't limited to apartments and includes projects with ten more dwellings in Perth. This will ensure greater choice for aspiring home owners.
"We know it will take time to build these homes, but this scheme is a significant step forward for WA's housing market."
Mr Mandanici said REIWA also commended the increased support for regional housing.
"Perth isn't the only market struggling with the delivery of new affordable housing. Getting projects off the ground in the regions can be more challenging and costly than in Perth," he said.
"In regional WA, the scheme will guarantee up to 60 per cent of homes in projects with a minimum of four dwellings. This is significant support for regional builders and potential home buyers."
Mr Mandanici said a further benefit of the scheme was ongoing support for the delivery of new homes.
"With the building industry as a whole showing signs of contracting as a result of increased costs due to the conflict in the Middle East, softer demand, and the brick shortage, Keystart's Pre-sale Guarantee will support a steady pipeline of affordable homes in the coming years," he said.
"Further, the downturn in the property market pre-COVID and the resulting tightening of the building industry contributed to the housing crisis we have experienced in the past few years.
"While demand may be easing at the moment, we need to ensure we have a consistently strong and productive building industry to prevent similar issues in the future. This scheme will support that outcome."
