Lifestyle appeal, affordability and concessions make apartment developments a standout for first-time buyers

Government support and better-value apartments are giving first homebuyers more ways to enter the Perth market.

First homebuyers have more options in Perth than they may realise, with a combination of government incentives and well-priced apartments making homeownership a realistic goal for many.

While the current market is challenging for first-time buyers, it is far from closed to them.

According to Cotality’s latest Home Value Index, Perth values have recently eased about six per cent from their peak in April – a moderate decline that has given prospective buyers more choice and greater scope to negotiate.

But outside the current price cycle, buyers who understand what is available to them can make the numbers work, with a substantial set of government schemes opening a clear pathway into homeownership for those who are prepared to plan ahead.

Thanks to the State Government, a first homebuyer purchasing a new home may be eligible for a $10,000 First Home Owner Grant, while the off-the-plan duty concession can reduce the duty payable on eligible pre-construction apartments valued up to $800,000 by up to $50,000 for contracts signed between March 12, 2026 and June 30, 2028.

Meanwhile, the Australian Government 5% Deposit Scheme allows eligible first homebuyers to purchase with a much smaller deposit.

Each of these schemes carries its own eligibility rules, which depend on factors such as income, property value, property type and the date a contract is signed.

Buyers are well advised to check their position early, and a mortgage broker or a conveyancer can help them work out how the schemes apply to their circumstances.

Family support is also becoming a more common part of how people get into the market.

A 2026 Finder survey of 619 Australian homeowners – with results reflected in the Finder 2026 Home Loan Report – found 67 per cent of generation Z owners received some form of family help getting on the ladder compared with 46 per cent of generation Y owners.

Finbar CEO and Executive Director Ronald Chan said he was hearing this in his own conversations.

“More parents are willing to talk openly about helping with a deposit than they were a few years ago,” he said. “For many families, it has become a practical conversation, rather than a last resort.”

Mr Chan said the lifestyle case for apartments was growing stronger as well.

“Many buyers are tired of maintaining a lawn, clearing gutters and paying for repairs on a large house,” he said.

“An apartment lets you lock-up-and-leave, which suits people with busy work lives or regular travel.

“For a first homebuyer, that freedom is often worth more than extra floor space.”

For many first-time buyers, the choice between a house and an apartment comes down to lifestyle.

A house may offer more space but an apartment can offer a shorter commute, lower maintenance and a neighbourhood built around everyday convenience.

“Buyers are looking at how they will live day to day,” Mr Chan said.

“Can they walk to a cafe, get to work easily and have somewhere secure to come home to?

“For a lot of people, those answers matter more than a backyard.”

Location and security also weigh heavily in that decision. Apartments close to transport, work and everyday amenities give buyers back time they would otherwise spend commuting.

“Secure entry, professional building management and a community of neighbours help apartment living feel settled and safe,” Mr Chan said.

Finbar’s Parkside Residences in Rivervale is one example of this approach.

The development will bring 108 studio, one-bedroom and two-bedroom apartments to the riverside suburb within minutes of the Perth CBD, Optus Stadium and the Crown Perth precinct.

Two-bedroom apartments are available in one-bathroom and two-bathroom layouts, giving families and sharers flexible options.

Residents will have access to a luxury lounge, a fully equipped gym, a cabana with a barbecue and outdoor dining, a pickleball court and 24-hour smart parcel lockers.

Apartments start from $460,000.

The project will also appeal to residents who want to spend time outdoors, with parklands, riverside trails, cafes and dining all within easy reach.

Parkside Residences has sold 25 per cent of its apartments since launching on October 4, with 24 apartments sold over the launch weekend alone.

Finbar’s sales data also shows first homebuyers making up a growing share of its customers.

The share of first-time buyers has risen from nine per cent in 2023 to 17 per cent in 2026 so far, and 22 per cent of Parkside Residences sales to date have been to first homebuyers.

Mr Chan said Finbar expected that share to grow as it released more mid-tier apartments.

“We are focused on developing accessible apartments which give more people a way into the market,” he said.

Construction at Parkside Residences is expected to begin in early 2027, with completion anticipated in mid-2028.

For current pricing and availability, interested buyers can speak directly with the sales team.

Parkside Residences by Finbar is a contemporary apartment development in Rivervale, offering 108 residences designed for modern living and investment opportunities in Perth.