Pre-sale Guarantee opens for applications

Applications are now open for the $250 million Pre-sale Guarantee, a major WA Government initiative delivered by Keystart to enable housing supply across the State.  

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 and begin construction sooner.  

If proponents sell those homes as construction progresses, the financial commitment will lapse at no further cost to the proponent. If the financial commitment is called following completion, Keystart will purchase the homes at a pre-set discounted rate on market value. 

The scheme 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.  

Keystart CEO Mark Tomasz said the Pre-sale Guarantee would help to make the dream of an affordable home a reality for more Western Australians by unlocking housing supply.  

“The Pre-sale Guarantee breaks down barriers to building homes by helping projects to reach their pre-sale requirements sooner.  

“It means industry can access the finance needed to get on with delivering more new apartments and townhouses across the State. 

“Keystart is committed to supporting Western Australians into an affordable home, whether it’s through our low deposit and shared equity home loans, or by enabling housing supply through commercial finance initiatives like this.” 

For more information, including frequently asked questions, or to submit an application, visit www.keystart.com.au/psg

Read the Treasurer’s media statement here.