- $130million to build 500 affordable homes over three years
- Homes will sell from $270,000
- Half of homes to be sold through the Shared Equity program
The Liberal National Government has allocated more than $130million to build 500 new affordable homes over the next three years.
The new homes will be sold from about $270,000.
They will be provided by better utilising big blocks that now have only one house on them or on vacant Department of Housing owned blocks.
Fifty per cent of the new homes will be sold through the State Government’s Shared Equity program and 50 per cent sold on the open market.
Housing Minister Bill Marmion said the initiative, under the Housing Stock Redevelopment Strategy, was an example of an innovative approach to using existing government resources.
“It means more West Australians on lower incomes will be able to afford to buy their own house,” Mr Marmion said.
“The funding was an election promise - and we have delivered on that promise. We have already provided more than 10,000 new affordable homes, and this extra money means we will reach and exceed our target of 20,000 homes much quicker than projected.”
Houses that become vacant will be targeted as a priority, however there will be some houses with existing tenants who will be required to shift.
“We will look after these residents, and will guarantee they will be provided a new home as close as possible to their existing premises,” the Minister said.
Mr Marmion said the affordable homes initiative would complement the 2013-14 State Budget increase in the First Home Owners grant - boosted from $7,000 to $10,000 for people building new homes.
“This will help stimulate additions to the stock of housing rather than just the turnover of existing stock,” he said.
“These initiatives continue our record of working to help West Australians buy their own home - through an innovative mix of programs, including shared equity; easy to get Keystart loans; and simply building and selling homes below the market rate.
“We will continue to invest in our local communities to ensure we are building stronger societies. In addition to this housing boost, we recently allocated almost $50million to build 1,000 affordable homes through the National Rental Affordability Scheme.”
- Waiting list for public housing peaked in 2010 at 24,000; it is now down to 21,000
- In this Government’s first four years, twice the number of social housing homes were delivered than by the previous Labor government in eight years
- State Government recently invested $48million to ensure construction of 1,000 affordable homes under the National Rental Affordability Scheme
- WA Budget statements are available at http://ourstatebudget.wa.gov.au
Minister’s office - 6552 6800