The WA Government has announced that the First Home Owners Grant (FHOG) has be increased from $10,000 to $15,000 for 12 months starting January 1, 2017.

First home owners buying or building a new home and contracts signed between January 1 2017 and December 31 2017 may be eligible. The $5,000 increase to WA's first home owners grant for buyers purchasing new properties has been met with ambivalence by potential buyers and concern from the property sector and sustainability experts.

"We estimate [the increase] will allow perhaps another 650 people to enter into the first home owners market, obviously good for the industry and good for jobs," WA Premier Colin Barnett said.

If clients enter into a contract to build a home, construction must start within 26 weeks from signing the building contract, and the home must be completed within 18 months after construction commences. If they purchase a new home ‘off-the-plan’, including apartments, construction must be completed by June 30, 2019.