Keystart injects $199m into housing industry

THE housing industry will gain through the $199 million expansion of the Keystart Housing Scheme to a total allocation of $499 million to give 5,000 low to moderate income homebuyers access to their own homes.

The WA Housing Centre, one of WA’s largest first home buyer providers welcomed the decision.

WA Housing Centre general manager Anthony Kinder said the increased funding would help many potential first homebuyers escape spiralling rental prices in the Perth home market.

“The expansion of funding for Keystart will enable many people on low incomes to build their own homes and in some cases pay less in mortgage repayments than they would in rent” Mr Kinder said.

But WA Chamber of Commerce and Industry chief executive, Mr Lyndon Rowe disagrees.

“The Keystart scheme may cause the housing industry to overheat. The housing industry is forecast to continue its strong growth,” he said

Other target investments include:

• $170 million to Westrail including $119 million for track improvements

• $50 million for acquisition of new bus fleet for Transperth.

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