State Government commits to 1,000 homes

The State Government has committed $48million to support the construction of 1,000 new homes to be rented out at well below market rates.

  • Minister announces $48million funding for 1,000 new affordable homes

  • Homes to be rented at least 20% below market rates

  • 7,600 affordable homes already delivered

The State Government has committed $48million to support the construction of 1,000 new homes to be rented out at well below market rates.

Housing Minister Bill Marmion said the homes would be available for rent at more than 20 per cent below private market rates.

Mr Marmion said the homes would be built by private developers and community housing organisations. The $48million funding would subsidise rents to provide affordable options for people looking for a home.

The Minister said the funding commitment was an important initiative to provide more rental accommodation to meet demand as Western Australia's population continued to grow.

The homes will be built under the National Rental Affordability Scheme (NRAS), a joint Federal/State Government scheme aimed at increasing the supply of affordable rental accommodation.  The scheme provides incentives for developers and community housing organisations to build new dwellings for rent at below market rates.

Mr Marmion said that under the scheme the 1,000 homes must be built by June 30, 2016.

"This funding will make a real difference to thousands of people looking for a place to live.  It provides homes at significantly reduced rent for those finding it difficult to find a private rental," he said. "NRAS properties are located close to public transport, schools, shops and employment hubs.

"This Government has already delivered more than 7,600 dwellings - this adds another 1,000 and takes us closer to the target of 20,000 additional affordable housing properties by 2020."

The Minister said collaboration between Government and the private sector to boost affordable private rental properties was a key component of the State Affordable Housing Strategy.

"The State Government will make a significant financial contribution to this program at $2,587 per dwelling, indexed yearly for the next 10 years, in addition to the incentive provided by the Federal Government," he said.

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Minister's office - 6552 6800