First Home Buyer Perth — Complete 2025 Guide

Buying your first home in Perth in 2025 means navigating a competitive market, a range of government incentives, and an array of lending options. Getting well-prepared before you start — understanding your deposit, your borrowing capacity, and the available grants — puts you in a far stronger position. Here's everything you need to know.

First Home Owner Grant WA

The WA First Home Owner Grant (FHOG) provides $10,000 for eligible first home buyers purchasing or building a new home valued at $750,000 or less. The grant applies to new homes only — not established dwellings. To qualify, you (and any co-buyers) must never have previously owned residential property in Australia, must occupy the home as your principal place of residence for at least six continuous months, and must be Australian citizens or permanent residents.

Stamp Duty Concessions

First home buyers in WA receive stamp duty (transfer duty) concessions on properties up to $530,000, with a reduced concession up to $400,000 for new homes and $500,000 for established homes (full exemption for eligible purchasers). Given Perth's current median house price, these thresholds cover many first home buyer properties — but verify current thresholds with RevenuWA as they are subject to change.

First Home Guarantee (Federal)

The Federal Government's Home Guarantee Scheme allows eligible first home buyers to purchase with a deposit as low as 5% without paying Lenders Mortgage Insurance (LMI). The government guarantees the remaining portion of the deposit up to 20%, saving buyers thousands in LMI premiums. Places are limited and allocated annually — apply through a participating Perth lender or mortgage broker early in the financial year.

How Much Deposit Do You Need?

For Perth's current median house price (approximately $750,000–$850,000 in established suburbs as of 2025), a 20% deposit is $150,000–$170,000. With the First Home Guarantee, this drops to 5% ($37,500–$42,500 plus costs). Factor in stamp duty, conveyancing costs, building inspection, and moving costs — allow an additional $15,000–$25,000 on top of your deposit. First home buyers in Perth need roughly $50,000–$60,000 in savings minimum to be genuinely purchase-ready, or more for a larger home or non-FHG purchase.

Pre-Approval Process

Before making offers, get a pre-approval (conditional approval) from a lender or broker. Pre-approval confirms your borrowing limit and strengthens your position at auction or in negotiations. It typically requires payslips, bank statements, tax returns (for self-employed), and identification. Most Perth pre-approvals take 2–5 business days through a broker, longer direct through banks.