First Home Buyers Perth: Your Complete 2026 Guide
Perth remains one of the most accessible capital city property markets in Australia for first home buyers. With the First Home Guarantee removing the need for a full 20% deposit and the Perth metro price cap at $850,000, the path to your first home is more achievable than it might feel right now.
What many first home buyers don't realise is that WA's stamp duty exemption and the federal schemes can stack, potentially saving you thousands on a single purchase. Whether you're buying in Baldivis- Ellenbrook or Aveley across Perth's growth corridors, or considering an apartment in the inner city, there are schemes designed to help you get started.
Launch Finance helps first home buyers across Perth compare loan options and government schemes across our wide panel of lenders, completely free of charge.
Here's what you need to know as a Perth first home buyer before approaching a lender.
Key takeaways
- First home buyers can purchase with a 5% deposit under the First Home Guarantee, no LMI required.
- WA's full stamp duty exemption now applies to homes up to $600,000 (from July 2026).
- The WA FHOG, stamp duty savings and First Home Guarantee can all stack on one purchase.
What deposit do I actually need to buy my first home in Perth?
You can buy your first home in Perth with just a 5% deposit through the First Home Guarantee, which covers up to 15% of the purchase price so you avoid lenders mortgage insurance. The Perth metro price cap is $850,000, meaning the scheme applies across most suburbs in the metropolitan area.
Your exact deposit requirement depends on the purchase price and which scheme you qualify for, which is what we work through with you in a free consultation.
What government schemes can Perth first home buyers use?
The main schemes available to Perth first home buyers:
- › First Home Guarantee: buy with 5% deposit, no LMI, up to $850,000 in Perth metro. No income caps or place limits as of October 2025.
- › WA First Home Owner Grant:$10,000 tax-free for new homes and off-the-plan apartments. The price cap for Perth metro is under $800,000 (increased from $750,000 in the 2026-27 WA Budget; applies to eligible contracts from 7 May 2026, with legislation estimated to commence around 28 July 2026).
- › WA stamp duty exemption: no transfer duty on homes up to $600,000 for first home buyers (increased from $500,000); sliding concession from $600,001 to $800,000 in Perth metro. New thresholds apply to contracts from 7 May 2026, with legislation estimated to commence around 28 July 2026. Always confirm your exact position with RevenueWA.
- › Off-the-plan stamp duty concession: 100% concession (no duty) for pre-construction contracts up to $800,000, capped at $50,000. Phases down between $800,001 and $900,000; 50% concession above $900,000. Extended to 30 June 2028 and now covers units, villas and townhouses, not just multi-tiered apartments.
- › Help to Buy: government takes a 30-40% equity share; launched December 2025. Income caps apply: $100,000 single, $160,000 couple. Cannot be combined with the First Home Guarantee.
- › Family Home Guarantee: 2% deposit for single parents, up to $850,000 Perth metro. Must be genuinely single.
- › Keystart: WA Government-owned lender offering 2% deposit with no LMI. Income cap $155,000 for singles and $228,000 for couples/families in Perth metro (from April 2026). Property cap $860,000. Applications go directly through Keystart, not via a broker panel. Charges a higher variable rate than mainstream lenders and is best used as a stepping stone to refinancing once equity builds.
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How do Perth mortgage brokers help first home buyers get approved?
Step 1: Talk to us
Get in touch and we'll assess your income, savings, and goals to determine which schemes and lenders suit your situation best.
Step 2: Compare your scheme options
We work through the First Home Guarantee, WA stamp duty savings, and other schemes to find the combination that saves you the most money.
Step 3: Identify the right lenders
We compare loan options across our wide panel of lenders to find competitive rates and features that match your deposit and income situation.
Step 4: Prepare your application
We guide you through the documentation process and ensure your application is complete before submission to avoid delays.
Step 5: Submit and manage the process
We handle the application submission and liaise with the lender throughout the assessment process, keeping you updated at every stage.
Step 6: Coordinate settlement
We work with your solicitor and the lender to ensure all conditions are met and settlement proceeds smoothly.
What mistakes do Perth first home buyers make?
The biggest mistake first home buyers make is approaching their own bank first without comparing options. Your bank can only offer their own products, not the most competitive rate or terms available across the market.
The second mistake is assuming they need a 20% deposit. With the First Home Guarantee Perth metro cap at $850,000, most suburbs are accessible with just a 5% deposit. This means you can enter the market years earlier than waiting to save a full deposit, especially when property values are rising.
How does Perth's affordability give first home buyers an edge?
Perth offers genuine affordability advantages compared to Sydney and Melbourne. In growth corridors like Alkimos, Yanchep, and Butler, new homes often sit within the $680,000 to $780,000 range, making both the First Home Guarantee and WA stamp duty concession applicable.
For apartment buyers, inner-Perth locations like West Perth and East Perth have new developments in the $500,000 to $650,000 range. The off-the-plan stamp duty concession, now extended to 30 June 2028 and broadened to cover strata and community-title dwellings, can eliminate or significantly reduce transfer duty for these purchases.
What the Perth market offers first home buyers right now:
- › METRONET connectivity: new rail connections to Ellenbrook, Byford, and northern suburbs improve long-term value for buyers in these corridors.
- › Scheme stacking: WA stamp duty exemption plus First Home Guarantee plus FHOG (for new builds) can save first home buyers well over $30,000 on a single purchase under the updated 2026-27 thresholds.
- › Competitive lending: Perth's stable employment base across mining, government, and services means lenders compete actively for quality first home buyer applications.
| Like to know which banks & lenders work best for your first home? Know where you really stand and what's possible, so you can plan with total confidence. 5.0 on Google
Local experts
Free service
Prefer to talk now? Call 08 9367 4222 |
Frequently Asked Questions
Can I buy a house in Perth with a 5% deposit?
Yes. The First Home Guarantee lets eligible buyers purchase with a 5% deposit and no LMI up to $850,000 in Perth metro. The scheme has no income caps or place limits as of October 2025, so there's no rush to apply before places run out.
What is the WA stamp duty exemption threshold for first home buyers in Perth?
If you're buying a home up to $600,000, you pay no transfer duty (increased from $500,000 in the 2026-27 WA Budget). For homes from $600,001 to $800,000 in Perth metro, a concessional sliding-scale rate applies. The new thresholds apply to contracts entered into on or after 7 May 2026, with legislation estimated to commence around 28 July 2026. Confirm your exact figure with RevenueWA before signing.
Can the government schemes combine for first home buyers?
Yes. You can use the First Home Guarantee (5% deposit, no LMI), WA stamp duty exemption, and WA First Home Owner Grant (for new builds) on the same purchase. Note that Help to Buy cannot be combined with the First Home Guarantee; you choose one or the other.
What income do I need to qualify for a home loan in Perth?
There's no minimum income requirement, but your borrowing capacity depends on your income, existing debts, and expenses. That's exactly what we work through with you in a free consultation.
How long does first home buyer approval take?
Pre-approval typically takes 3-5 business days with complete documentation. Formal approval after finding a property takes 7-14 days for most applications. Having your documents ready before you start looking speeds up the entire process.
Should first home buyers in Perth use a mortgage broker or go to their bank?
A mortgage broker, every time. Your bank can only offer their own products, while a broker compares options across a wide panel of lenders to find the most competitive rate and terms for your situation. The service is free, and you're not locked in to anything by getting a comparison.
What is the WA First Home Owner Grant amount and price cap in 2026?
The WA First Home Owner Grant is $10,000 for eligible new homes. The price cap for Perth metro increased from $750,000 to under $800,000 in the 2026-27 WA Budget, applying to eligible contracts from 7 May 2026. Confirm eligibility at the WA Government website before signing a contract.
Your Next Steps
Getting your first home loan right as a Perth buyer is about more than finding a low rate. The right lender for your situation can mean access to better scheme combinations, competitive terms, and a smoother approval process, all things that vary significantly across our wide panel of lenders.
Ready to find out which schemes and lenders give you the strongest start as a first home buyer? Contact the Launch Finance team for a free consultation or call 08 9367 4222. We'll assess your situation across our wide panel of lenders and identify the best combination of schemes and loan options for your income, deposit, and goals.
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Launch Finance · General information only - this article does not constitute financial advice. Please consider your own circumstances and seek professional advice before making any financial decisions.
