Keystart updates property price and income limits in Pilbara and Kimberley regions creating more equity for regional aspiring homeowners.
Keystart is pleased to announce substantial changes to our product settings in the Pilbara and Kimberley regions. These updates aim to increase the scheme's accessibility, making home ownership an option for more Western Australians.
The changes will be effective from 19 December 2024.
We're introducing updates to a number of product settings for metro and regional Western Australia. These updates will make the scheme more consistent and accessible for people throughout the state.
The following changes being introduced for the Kimberley and Pilbara regions are reflective of the unique local market conditions.
Deposit requirements
Reducing from 7% to 2%, aligning with Keystart's standard requirements in other regions.
Kimberley and Pilbara: Low Deposit Home Loan
Kimberley and Pilbara: Shared Ownership Home Loan
Keystart's tailored updates for the Pilbara and Kimberley regions seek to address some of the unique pressures of these housing markets. By easing deposit requirements and adjusting property price and income limits, these changes offer a practical pathway to homeownership for more individuals and families in the Northwest of Western Australia.
“Recognising the unique market conditions in the Pilbara and Kimberley regions, the changes being introduced will create more opportunities for Western Australians to achieve their home ownership goals,” said Keystart CEO, Mark Tomasz.
“The property markets in these regions are faced with very specific challenges, including higher construction costs.
“The changes being made today reflect Keystart's commitment to ensuring our products meet local needs and to support aspiring homeowners regardless of where they choose to live,” he said.
Keystart's property price limits in all regions will continue to be reviewed periodically against annualised median house price data sourced from REIWA. Income limits will reflect the income required to service the property price limits.
These settings are dynamic and will continue to adjust to reflect market conditions, supporting Keystart's vision of making affordable home ownership a reality for more people.
For media enquiries contact:
Clarity Communications
(08) 9380 0700
