Perth Property Shake-Up: How the Budget Impacts You

There’s been a lot of talk lately about the Federal Budget. People here in Perth are asking, “What does this actually mean for the property market?”

So I thought I’d take a moment to break it down – what’s changing, how it might impact us locally, and what you should be thinking about if you’re planning to buy, sell or invest in the coming months.

First up – some real support for first-home buyers

The government is tipping an extra $800 million into the Help to Buy scheme, making it easier for thousands of Aussies to get into their first home with as little as 2% deposit. Yes, you read that right – just 2%.

That’s a big deal, especially in Perth where prices are still (relatively) affordable compared to the east coast. If you’re someone who’s been watching the market and feeling like home ownership is just out of reach – this could be the nudge you need.

The scheme is a shared equity model – meaning the government takes on part ownership in exchange for reducing your deposit and mortgage burden. It’s not for everyone, but it’s definitely worth a chat with your broker or agent to see if it could work for you.

More homes (and faster) – relief for Perth’s tight market?

One of the most exciting announcements was a $1 billion boost to housing supply, along with $120 million to help speed up planning approvals. Here in WA, we’ve been battling low stock levels and long delays in new builds – this funding could help free up land, unlock stalled projects, and speed things along.

There’s also $54 million going into modular and prefab housing, which the government says could make construction up to 30% faster. That could be a real game changer, particularly in regional areas or outer suburbs where delays have been stretching for months.

A win for local buyers: foreign investor restrictions

In a move that surprised many, the budget also included a two-year ban on foreign investors buying established homes. This won’t affect brand-new properties, but it does mean less competition for locals looking to buy existing homes.

Now, we don’t tend to see the same levels of foreign investment in Perth as Sydney or Melbourne, but this measure could still give local buyers a bit of breathing room, especially in the mid-to-high-end market.

So, what does this mean if you're thinking of making a move?

Here’s the truth: no budget, no market forecast, no interest rate prediction can tell you exactly when the perfect time to buy or sell is.

The best time to make a move is when it aligns with your life – your goals, your family plans, your finances. What this budget does offer is more options, more support, and a signal that housing is a top priority on the national agenda.

If you’re ready to upsize, downsize, invest or just explore what’s possible – I’d love to help you unpack what these changes mean for your personal situation. My door (and inbox!) is always open.

Paulette Contessi 

Director / Licensee

CONTESSI PROPERTIES