What WA’s $250m pre-sale scheme means for the state’s apartment buyers

The fund will help apartment and townhouse developers clear a bank hurdle so projects can secure construction finance. Western Australia has opened its $250 million pre-sale guarantee for apartment and townhouse developers, aiming to ease a bank financing hurdle and help unlock up to 1200 homes. Banks typically require developers to pre-sell a set number of homes before they help finance to build a project. Meeting that threshold can take time, particularly when buyers are reluctant to commit to a home that may not be completed for years. Applications are now open for WA's pre-sale finance guarantee scheme. Picture: GettyA shortfall in pre-sales can delay a project or stop it from going ahead, leaving buyers in limbo. Under the scheme, first announced in the state’s 2026-27 budget, state-backed lender Keystart will guarantee the purchase of up to 50% of a development’s unsold homes at completion. The commitment is intended to help a project meet lenders’ pre-sale requirements and secure construction finance. If the homes are sold while construction is under way, Keystart’s commitment will be cancelled at no further cost to the developer or the state. If they remain unsold, Keystart...