The Western Australian Government has announced a $125 million stimulus package for the state’s home building sector, which provides cash grants to prospective homebuyers.

The “Building Bonus” scheme allows WA owner-occupiers and investors, to avail of a $20,000 grant for building new houses. Those who purchase property in a single-storey development which is already under construction, may also apply for the grant.

The WA grant can offer new homebuyers who meet income criteria for the federal package around $45,000 in government assistance and could rise to $69,440 if the buyer is a first home owner and is eligible for the existing $10,000 first home owner grant and stamp duty concession.

As part of its new package, the Government will also extend a 75 per cent stamp duty rebate — a stimulus introduced last year for off-the-plan apartments — to include apartment projects currently under construction.

The WA Government will also provide $319 million dollars for building, buying, renovating and maintaining social housing. Of the total funding pool, $80 million has been allocated for maintenance programs for 3,800 properties outside of Perth, including homes in Aboriginal communities and for regional government workers. The social housing package is intended to provide 1,700 jobs, with 780 of those in the regions.

The “Building Bonus” scheme will run for just over six months, with grants available until December 31, 2020.

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