Western Australia expands Keystart “Skilled Start” loan to police and fire personnel

Australia’s housing market continued to soften in July, with Cotality’s nationwide home‑value index falling 0.7% and prices remaining 1.6% below the March peak. Gains in Brisbane and Adelaide turned into losses, while Sydney and Melbourne saw price drops of more than 1% per month. Despite the correction, household spending showed resilience: nominal spending rose 0.8% in June, giving a 1.3% gain for Q2, driven by higher prices and modest volume increases across contents, recreation, culture and hospitality. Savings buffers remained relatively strong, with median consumers rebuilding to pre‑pandemic levels, and drawdowns staying modest.

In parallel, Western Australia’s government loan agency Keystart broadened its “Skilled Start Home Loan” programme. From 27 July, police, fire and emergency‑service graduates from the past five years – and current trainees – become eligible. The loan requires only a 2% down‑payment, offers an interest rate 1 percentage point lower than the standard Keystart rate, and eliminates mortgage‑insurance premiums. Since its launch in December 2023, more than 65 Western Australians have bought homes through the scheme, and in the 2025‑26 fiscal year Keystart approved nearly 1,200 new loans, helping over 2,600 residents purchase homes.