Western Australia has been left as the sole Australian state yet to establish a critical federal housing initiative, with the opposition squarely blaming the Cook Labor government for administrative delays.
The national Help to Buy scheme, a shared equity program designed to assist low and middle-income earners into homeownership, is now operational or in advanced stages of setup in every other state and territory. WA remains the only jurisdiction where eligible homebuyers cannot yet apply, despite the scheme receiving royal assent nearly five months ago.
A Nationwide Rollout Leaves WA Behind
The federal government's Help to Buy program aims to ease the housing crisis by allowing the Commonwealth to contribute up to 40 per cent of the purchase price for a new home, or 30 per cent for an existing one. Participants need a deposit of just 2 per cent and avoid paying lenders mortgage insurance.
While the legislation passed Parliament in late 2023 and received royal assent on December 7, its implementation requires a separate agreement with each state and territory government. These agreements dictate how the scheme will be administered locally.
As of now, agreements are fully executed with New South Wales, Victoria, Queensland, South Australia, Tasmania, and the Australian Capital Territory. The Northern Territory has signed an agreement in principle, leaving Western Australia as the clear outlier with no publicised agreement or timeline for execution.
Political Blame Game Erupts Over Delays
The delay has sparked a fierce political debate in Perth. Shadow Housing Minister Steve Martin has accused the state Labor government of a major administrative failure.
"This is a massive stuff-up by the Cook Labor government," Mr Martin stated. "Every other state has managed to get this done, but here in WA, we're last again. It's simply not good enough for West Australians who are struggling to buy a home."
Mr Martin emphasised the tangible cost of the delay for potential participants, arguing that every week of inaction could see aspiring homeowners miss out due to rising property prices and interest rate uncertainty.
In response, a spokesperson for WA Housing Minister John Carey defended the government's approach, stating they are "working closely" with the federal government on the agreement. The spokesperson highlighted the state's existing Keystart shared equity scheme and a record $3.2 billion investment in housing and homelessness measures as evidence of their commitment.
What the Hold-Up Means for West Australian Homebuyers
The ongoing delay has several immediate consequences for residents of Western Australia. Firstly, eligible buyers are denied access to a scheme that could significantly reduce the deposit barrier and monthly mortgage repayments.
Secondly, the lack of a clear timeline creates uncertainty for those trying to plan their entry into the property market. With the property cycle moving, potential applicants risk being priced out of their preferred suburbs while waiting for the scheme to become available.
The state government maintains it is undertaking "due diligence" to ensure the scheme is implemented effectively and complements existing state programs. However, critics argue this process should have been completed concurrently with other states to avoid disadvantaging WA citizens.
The pressure is now mounting on the Cook government to finalise negotiations and provide West Australians with the same opportunity for homeownership support currently available to their counterparts across the rest of the country.
