THE State Government has made the correct decision to target more housing supply through new construction, to help with housing affordability in WA.
Increasing the income limit for a Keystart home loan as well as boosting the first homebuyer grant for newly built or planned dwellings by $5000 are very timely initiatives because a lot of homebuyers at the moment are hesitant about getting into the market.
They are concerned about the economy and their jobs.
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Both of these initiatives will attract people who are struggling to get into home ownership.
They are also very positive for the WA economy and will quickly pay a dividend through more jobs in the construction sector.
The good thing about these announcements is that they will boost the supply of housing, which is widely accepted as the best way to help make housing more affordable.
It is also pleasing that the boost in the first homebuyer grant extends to people building a new home as well as buyers of units off the plan.