Achieve the 'Great Australian Dream' of Home Ownership With Summit Projects

Myaree, Australia, November 9, 2015 (Newswire.com) - What is the Housing Authority and the Opening Doors scheme?

The Housing Authority is a Western Australian government agency and are a major provider of affordable land and housing in Western Australia making a substantial contribution to the State’s economic and social wellbeing. The Housing Authority’s focus is on innovation and delivering value-for-money in the design, construction and financing of homes to enable all Western Australians to have a place to call home.

The Housing Authority works in close collaboration and partners with private, government and not-for-profit sectors to help find new ways to increase the supply of affordable housing in Western Australia, to meet the newly set target of achieving 30,000 affordable housing opportunities by the year 2020.
​The Opening Doors program helps to give for low to medium income earners access to these properties by providing a range of ownership options.

What are the options? 

• Full ownership

• keystart lending for full home ownership & shared

• Shared ownership

What is Shared Home Ownership program?

The Housing Authority retaining a part share in the property means that prices start from as little as $232,000 and a large number of these properties being offered under the shared ownership are located in established areas. 

What are the benefits of shared home ownership?

• Low deposit of $2,000 or 2% of the purchase price (whichever is greater)

• $0 monthly account keeping fees

• No saving history required

• $0 lenders mortgage insurance

How do I qualify?

Through the Keystart lending initiative, you may be eligible to qualify for shared home ownership. Properties are also available on a 100% ownership basis through a Keystart loan or through your own financial institution.
As the whole purpose of shared equity is to get low to medium income earners into their own homes, there are of course terms and conditions. As a general guide, this means that a single person cannot earn above $70,000 or as a couple, above $90,000. For further information, please contact Keystart on 1300 578 278 to discuss your own particular circumstances.

What are the options available?

In addition to affordable housing options though key start there is also a number of homes available that would suite downsizers, investors or first home owners.

Who is building these homes?

Summit Projects is partnering with the Housing Authority to build a number of these homes on their behalf that will then be available through the Opening Doors program. All of these homes are quality built by Summit Projects and will be fully finished and low maintenance. If you are looking for an investment property, they are all brand-new homes allowing investors to maximize the depreciation and tax benefits.

What are the benefits of purchasing Housing Authority property through Summit Projects?

Unlike most affordable new housing product that tends to be House and land packages on the outskirts of Perth, these houses are infill development product in existing suburbs so rather than packing up and moving out to woop woop,  you can choose to stay in your area or close to friends or family.

When will these homes be completed?

Many of these properties are near completion, so now is the time to secure one if you don’t want to miss out. 

Ok I'm interested, how do I get started?

Buy now in 3 simple steps.

1. Contact Shaun Clifford on [email protected]

2. Finance approval

3. Choose your home 

Visit www.summitprojects.com.au for more information about this fantastic program.