The Western Australian government has announced it will invest $875 million to create thousands of social housing homes across the state.
The government will establish a new $750 million Social Housing Investment Fund which includes $228 million allocated to short-term projects and $522 million to deliver new homes in 2022-23. As well, the government plans to refurbish existing homes and purchase properties for social housing.
“Our $875 million social housing package is the single largest one-off investment in social housing in the State’s history, and it takes the total my Government has committed to social housing over the coming four years to more than $2.1 billion,” said WA premier Mark McGowan.
“Our total investment will significantly improve the quality and accessibility of social housing for vulnerable Western Australians and will deliver up to 3,300 social housing properties.”
The total funding will see 3,300 new homes created, including 150 properties in regional areas.
The government will also re-prioritize existing funds towards the development of modular, prefabricated homes in an effort to fast-track delivery and reduce demand on traditional construction.
“We need an immediate boost to social housing, but we also need to acknowledge that in the current market, constructing homes will take some time,” said housing minister John Carey.
“That is why we are investing in programs such as the repurposing of affordable homes to social, spot purchasing properties, and investing in faster and alternative construction methods such as modular homes.
“By holding more than $520 million for future projects, we’re also ensuring there will be a critical pipeline of work for our construction industry when this current housing construction boom ends.”
The funding will be allocated in the upcoming state budget.
