News that the Western Australian government are offering more incentives to encourage residents to invest in their own properties may be a boost to the state's real estate market.
Speaking at the launch of the Workers, Soldiers, Suburbs: 100 years of government housing exhibition yesterday (August 28), housing minister Terry Redman explained that 6,000 households have now benefited from the State Affordable Housing Strategy 2010-2020: Opening Doors to Affordable Housing.
The scheme's success to date has created a good starting point for the state government to meet its target of providing 20,000 affordable homes by 2020, Mr Redman said.
This added support could be just the boost homebuyers and in particular first home buyers need to get them onto the first rungs of the property ladder.
"Since 2010, more than 6,200 new affordable homes have been created through initiatives including delivering more public and community housing, more affordable private rentals, and more home ownership opportunities for first home buyers and young families," Mr Redman said.
The program aims to help lower to moderate income earners by providing more affordable housing which may help current and future residents, he added.
The emphasis on improving affordable housing in WA may soon deliver social benefits throughout the state.
With housing affordability on the rise all across Australia, it seems now may be the opportune time for first homebuyers to make the most of these initiatives and get into the real estate market.
