Buying your first home in Perth in 2026 is one of the most significant financial decisions you will make. Between saving a deposit, understanding government grants, navigating stamp duty concessions, and choosing the right home loan, it can feel like a lot to take in at once. The good news is that Western Australian first home buyers have access to a range of incentives and support schemes designed to reduce upfront costs and make the path to ownership more achievable.
This guide covers everything Perth first home buyers need to know in 2026, including the First Home Owner Grant, stamp duty exemptions and concessions, federal government guarantee schemes, Keystart low deposit options, and how to structure your home loan to make the most of the help available. If you are ready to take the first step, our first home buyers service can walk you through your options at no cost to you.
Understanding the Perth Property Market in 2026
Perth has experienced strong property price growth over recent years, driven by population growth, interstate migration, and a constrained housing supply. Median house prices in many suburbs have risen considerably, which means first home buyers need a larger deposit and must borrow more than previous generations did in the same market.
Despite this, Perth remains more affordable than Sydney and Melbourne on a median price basis, and the combination of state and federal support available to WA buyers can meaningfully reduce the barrier to entry. Use our borrowing power calculator to get a clear picture of how much you may be able to borrow before you start attending open homes.
The First Home Owner Grant (FHOG) in Western Australia
The First Home Owner Grant is a one-off payment from the Western Australian Government to eligible first home buyers. In 2026, the grant amount is $10,000 for buyers who are purchasing or building a new home to live in as their principal place of residence.
Key FHOG Eligibility Requirements
- You must be an Australian citizen or permanent resident.
- You must be at least 18 years of age.
- You or your partner must not have previously owned residential property in Australia.
- The home must be a new dwelling, meaning one that has not been previously lived in or sold as a place of residence.
- You must occupy the property as your principal place of residence within 12 months of settlement or construction completion.
- There is no income test or asset test for the FHOG.
Importantly, the FHOG in WA does not apply to established homes. If you are purchasing an existing property, you will not be eligible for this grant, though you may still qualify for stamp duty concessions. Building a new home, on the other hand, is one of the strongest ways to access the full FHOG benefit. Our residential construction loans page outlines how construction finance works for buyers looking to build in Perth.
| Grant Amount | $10,000 |
| Eligible Properties | New homes only (not established) |
| Income Test | None |
| Residency Requirement | Must move in within 12 months |
| Who Applies | Via your lender or directly to RevenuWA |
Stamp Duty (Transfer Duty) Concessions for First Home Buyers in WA
Stamp duty formally called transfer duty in Western Australia is one of the largest upfront costs for any home buyer. For first home buyers, the WA Government offers a concessional rate known as the First Home Owner Rate of Duty, which can significantly reduce or even eliminate this cost depending on the property value.
How the First Home Owner Rate of Duty Works
As of 2026, eligible first home buyers in WA who purchase a property below the applicable threshold may pay no transfer duty at all, or a substantially reduced amount compared to the general transfer duty rate. The WA Government updated the thresholds for eligible transactions entered into from 21 March 2025.
To take full advantage of this concession, it pays to calculate your expected stamp duty liability before you commit to a purchase price. Our stamp duty calculator allows you to estimate your transfer duty cost in WA based on the purchase price and your status as a first home buyer. Running this figure early helps you plan your total purchase budget accurately.
Eligibility for the First Home Owner Rate of Duty
• You must meet the same general eligibility criteria as the FHOG.
• The concession applies to both the purchase of a completed home and vacant land intended for building your first home.
• You must move into the property as your principal place of residence within 12 months of settlement or construction completion.
• Joint buyers must all be eligible first home owners.
Even if your property falls above the threshold for a full exemption, the First Home Owner Rate still applies a reduced rate of duty compared to the general rate. To understand all the costs involved in buying, use our property buying cost calculator, which factors in transfer duty, legal fees, and other settlement costs.
The Federal Home Guarantee Scheme
The Australian Government’s Home Guarantee Scheme is one of the most impactful support measures for first home buyers across the country. It allows eligible buyers to purchase a property with a deposit as low as 5% without needing to pay Lenders Mortgage Insurance (LMI). Instead of requiring a 20% deposit to avoid LMI, the government acts as a guarantor for the remaining portion of the deposit.
First Home Guarantee
Under the First Home Guarantee, eligible buyers can purchase with a 5% deposit. There are income caps and property price caps that apply, and places are limited each financial year. For Perth buyers in 2026, this scheme can save thousands of dollars in LMI premiums while getting you into the market sooner with a smaller deposit.
Regional First Home Buyer Guarantee
A specific allocation is available for buyers purchasing in regional areas of Australia, including regional Western Australia. This variant of the scheme operates similarly to the standard First Home Guarantee but targets buyers outside of major capital cities.
If you believe you might qualify for one of these guarantee schemes, speaking with a mortgage broker early is strongly recommended. The schemes are processed through approved lenders, and a broker can match you with participating lenders and help you structure your application. Visit our dedicated low deposit home loans page for more information on deposit options available to Perth buyers.
Keystart: Western Australia’s Low Deposit Home Loan
Keystart is a WA Government-backed lender that provides low deposit home loans to eligible buyers who are unable to access standard bank lending due to deposit size. Keystart offers deposits from as low as 2% for some products, with no requirement for lenders mortgage insurance on eligible loans.
Keystart is a transitional lender, meaning the expectation is that borrowers will refinance to a mainstream lender once they have built up sufficient equity in their home. It is not designed to be a permanent lending solution, but as an entry point into the market it can be particularly valuable for Perth buyers who are close to purchasing but not quite at the deposit threshold required by banks.
Our Keystart home loans page has more detail on eligibility, income limits, and how Keystart products compare. It is worth noting that Keystart has its own income caps and property value limits that vary depending on whether you are buying in the metro area or a regional location.
Guarantor Loans: Using a Family Member to Help You Buy
If your savings are not yet enough for a deposit, another option is a guarantor loan. This involves a parent or close family member using the equity in their own property as additional security for your loan, reducing or eliminating the need for LMI and helping you get into the market sooner.
Guarantor arrangements can be powerful, but they also carry obligations for the guarantor if the borrower is unable to meet repayments. It is important that both parties fully understand the arrangement before proceeding. Our guarantor or family assist loans page outlines how these structures work in detail.
What Upfront Costs Should Perth First Home Buyers Budget For?
Your deposit is not the only cost involved in purchasing a home. First home buyers are often caught off guard by the additional expenses that come with settlement. Here is a breakdown of the key costs to plan for:
• Transfer (stamp) duty reduced or eliminated for eligible first home buyers, but can be significant for purchases above the concession threshold.
• Conveyancing and legal fees typically between $1,500 and $3,000 depending on the complexity of the transaction.
• Building and pest inspection generally $400 to $700 and strongly recommended for established homes.
• Lenders mortgage insurance (LMI) payable if your deposit is below 20% and you are not using a guarantee scheme or Keystart.
• Home loan application and establishment fees vary by lender but can range from zero to several hundred dollars.
• Moving costs, utility connections, and initial home setup expenses.
Getting an accurate picture of all these costs before you start bidding or making offers is essential. Use our budget planner to map out your complete financial position, including your savings, expected purchase price, and all associated costs.
Choosing the Right Home Loan as a First Home Buyer
Once you understand the grants and concessions available to you, the next step is choosing a home loan that suits your situation. For first home buyers, the key questions are whether to go with a fixed or variable rate, how long a loan term suits your plans, and what features such as an offset account or redraw facility you want access to.
Many first home buyers opt for the certainty of a fixed rate in their early years of homeownership, particularly when budgeting is tight. Others prefer the flexibility of a variable rate, especially if they plan to make extra repayments. Our fixed rate loans and standard variable rate home loans pages explain the features of each in plain language.
Before you apply, it is a good idea to stress-test your repayments at a higher interest rate to make sure you can manage if rates rise. Our loan calculator lets you model different loan amounts, rates, and terms to understand what your monthly repayments would look like under different scenarios.
Getting Pre-Approval as a First Home Buyer
Pre-approval is the process of having a lender assess your financial situation and provide a conditional indication of how much they are willing to lend you. It is not a formal loan offer, but it gives you confidence to make offers and sets a clear ceiling on your property search.
For first home buyers in Perth’s competitive market, having pre-approval in place before you attend open homes signals to agents and sellers that you are a serious buyer. It also helps you move quickly when you find the right property, rather than losing time to the application process.
Central Lending Solutions can help you prepare a strong pre-approval application, identify the right lenders for your situation, and apply across multiple lenders to find the most competitive terms. Our service is free to you we are paid by the lender. Contact our team to get started.
Frequently Asked Questions
1. Can I access the First Home Owner Grant if I am buying an established home in Perth?
No. The WA First Home Owner Grant is only available for the purchase or construction of a new home. An established home one that has been previously occupied or sold as a residential property does not qualify. However, you may still be eligible for the First Home Owner Rate of Duty (stamp duty concession) on established properties if you meet the general eligibility criteria.
2. How much stamp duty will I pay as a first home buyer in Perth?
This depends on the purchase price of your property and whether you meet the eligibility criteria for the First Home Owner Rate of Duty. Below the relevant threshold, eligible first home buyers may pay no transfer duty at all. Above the threshold, a concessional rate applies. Use our stamp duty calculator to estimate your specific liability based on your purchase price before you commit to a property.
3. Can I combine the First Home Owner Grant with the Home Guarantee Scheme?
Yes, in many cases you can. The FHOG and the federal Home Guarantee Scheme operate independently of each other, meaning an eligible buyer purchasing a new home in Perth may be able to claim the $10,000 FHOG and also purchase with a 5% deposit under the First Home Guarantee without paying LMI. The eligibility criteria for each scheme must be met separately. A mortgage broker can confirm what you qualify for based on your individual circumstances.
4. What is the difference between the First Home Guarantee and Keystart?
The First Home Guarantee is a federal government scheme delivered through approved private lenders, including major banks and non-bank lenders. It allows you to purchase with a 5% deposit without LMI. Keystart is a WA Government-owned lender that offers deposits as low as 2% on eligible products. Keystart is specifically designed as a transitional lender to get buyers into the market, whereas the First Home Guarantee is a guarantee mechanism that works within mainstream bank lending. Your eligibility for each will depend on your income, deposit, and the property you are buying.
5. Do I need a mortgage broker to access first home buyer grants and schemes?
You do not legally require a broker, but working with one makes the process significantly easier. Grants like the FHOG are applied for through your lender at settlement, and a broker helps ensure your application is correctly structured to access all available incentives. For schemes like the Home Guarantee Scheme, your loan must be processed through an approved lender, and a broker helps you identify and apply through the right one. Central Lending Solutions charges no fee for this service we are paid by the lender.
Ready to Buy Your First Home in Perth?
Navigating grants, stamp duty concessions, and home loan options as a first home buyer does not have to be overwhelming. The team at Central Lending Solutions has over 20 years of experience helping Perth buyers enter the property market and access every dollar of support they are entitled to.
We compare home loan options across a wide panel of lenders, help you structure your application to access the FHOG, stamp duty concessions, and guarantee schemes, and guide you all the way from enquiry to settlement. Our service is completely free to you.
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