The Western Australian (WA) Government, in partnership with the Albanese Labor Government, has announced a significant investment in social and affordable housing sector in the state.
Aiming to deliver almost 1,800 new homes, this initiative represents one of the largest boosts to affordable housing stock in the state's history.
The collaboration involves the Housing Australia Future Fund Facility (HAFFF) and the National Housing Accord Facility (NHAF), with the state government contracting builders for 21 housing projects.
These developments will be strategically located near METRONET stations and on other government-owned land, providing a mix of affordable rentals and social housing.
The projects are designed to create a continuous pipeline of work for the local building industry and to attract builders from the east coast.
Upon completion, the developments will be sold to the community housing sector. Availability payments will be attached to support affordable rental dwellings for Western Australians.
The Cook Government is set to invest A$443m ($288.36m) to cover the upfront construction costs of the new homes, which will subsequently be sold to community housing providers (CHPs).
CHPs may be eligible for concessional loans from the HAFFF and NHAF and could apply for senior debt through the Housing Australia Affordable Housing Bond Aggregator, in addition to ongoing subsidies to facilitate repayments over 25 years.
Approximately 20% of the homes will be designated as social housing while the remaining 80% will be offered as affordable community housing.
The Cook Labor Government has already invested A$3.6bn into housing and homelessness measures since 2021-22, complementing the Albanese Labor Government's commitment of A$32bn to assist Australians in building, renting, and buying homes.
WA Premier Roger Cook said: "This landmark new partnership with the Albanese Labor Government will build the affordable homes our growing state needs, right where we need them.”
"It means we have a sustainable pipeline of affordable housing projects now and in coming years.
"Our nation-leading housing plan is fast-tracking approvals, unlocking more land and getting more houses built, faster - because we'll always do what's right for WA."
