The
Albanese and Cook Labor Governments will invest more than $2 billion in a
landmark agreement set to supercharge housing delivery in Western Australia.
Both
Labor Governments are determined to build more homes and help first home buyers
achieve their dream of owning a home.
Through
the 100,000 Homes for First Homes Buyers initiative, the Albanese Labor
Government will contribute more than $1 billion dollars across several State
Government initiatives set to deliver more than 34,000 new homes, including 11,000
exclusively for first home buyers.
The
new and existing initiatives will accelerate housing supply in and around METRONET
station precincts, new residential estates, and in regional Western Australia.
The
investment funded in partnership with the Cook Labor Government, is part of a
record $4.7 billion investment in housing and homelessness measures in the
2026-27 State Budget.
The
agreement includes a joint investment of $522 million in the Housing Enabling
Infrastructure Fund to deliver the critical power and water infrastructure
needed to unlock new housing.
This
includes investment in priority growth areas in and around METRONET station
precincts, priority growth corridors including North Ellenbrook and East
Wanneroo, as well as regional
locations including Albany, Eaton, Australind and East Boyanup.
A
further $694.3 million will be invested for land development works at METRONET
station precincts and across metropolitan and regional WA.
Together,
these two investments are expected to unlock more than 7,500 homes for first
home buyers and tens of thousands of lots over the long term.
The
agreement will also include $375 million for a new State-led build to sell
program which will see the construction of up to 500 new homes exclusively for
first home buyers.
First
home buyers will be provided support to purchase the homes through Keystart's
Urban Connect Shared Equity program, meaning the WA Government will take a 35
per cent equity share, reducing the cost of buying a home by up to $250,000.
The
500 homes will be built in locations including Alkimos, Ballajura, Bertram,
High Wycombe, Midland, Stratton, Wellard, Yanchep as well as Geraldton and
Bunbury.
The
Cook Labor Government will also establish a new $250 million First Home Buyer
Commercial Financing Facility, delivered by Keystart, providing low-cost
finance to multi-unit developments offering affordable homes for first home
buyers.
This
complements the Cook Labor Government's newly announced $250 million Pre-sale
Guarantee to reduce financial barriers for developers to bring well-located and
affordable homes to market faster.
The
agreement will also jointly fund an additional $40 million top up to the
Infrastructure Development Fund (IDF) and $50 million top up to the Regional
Housing Support Fund (RHSF).
The
IDF through its initial $80 million investment by the Cook Government is
already supporting industry to deliver over 10,000 dwellings in targeted infill
and regional locations by helping to cover the costs of headworks including
power and water connections.
A
total of $75 million will now be provided through the RHSF which provides
grants to local governments, community housing providers and developers to
support key worker, community housing and residential subdivision projects in
regional WA.
New homes and
residential lots to be delivered under the landmark partnership are expected to
be delivered progressively from 2027, providing critical new supply for first
home owners and easing pressure across the housing market.
This
is the latest deal in the Albanese Government's 100,000 Homes for First Home Buyers
commitment, part of a $45 billion plan to build more homes and make them easier
for first home buyers to buy. Other commitments include:
- Working with states, territories and industry to
remove barriers to building through the National Planning Reform Blueprint,
reforms to environmental approvals and a pause and streamlining of the National
Construction Code.
- Training more tradies through our investments in
Free TAFE and $10,000 apprenticeship incentives.
- Delivering 55,000 social and affordable homes
for those doing it toughest through initiatives like the Housing Australia
Future Fund.
- Helping more than 240,000 first home buyers to
buy their own home under the 5% Deposit Scheme.
Quotes attributable to Premier Roger Cook:
"My government's priority is ensuring every
Western Australian has a home, and that's what my government is focused on
delivering as part of our upcoming Budget.
"This is a significant funding package which
will provide more funding to help build houses around METRONET station
precincts.
"It will also support housing development in
regional WA, where my government has recently announced it will build hundreds
of homes for regional frontline workers as part of our Seven Cities vision.
"By delivering a critical new supply of homes
for first home buyers, my government is working with the Commonwealth to ease
pressure throughout the State's housing market, ensuring every Western
Australian has the security a home provides."
Comments
attributed to Federal Minister for Housing, Homelessness and Cites Clare
O'Neil:
"This is about something simple, making sure
young Western Australians can afford a home of their own. We're partnering with
the WA Government to unlock thousands of homes and give first home buyers a
real shot.
"Right now, too many Western Australians feel
locked out of the housing market. This investment is about changing that,
building more homes and backing first home buyers to get in.
"Australians don't expect a free ride, they
just want a fair chance to buy a home. This deal delivers more homes and puts
first home buyers front and centre."
Comments
attributed to Deputy Premier and Treasurer Minister Rita Saffioti:
"Every Western
Australian deserves a secure place to call home which is why we've made housing
our number one priority in this year's State Budget through an historic $4.7
billion investment.
"We're proud to have
secured this landmark funding agreement with the Albanese Labor Government,
which will deliver thousands of new homes for Western Australians and put
homeownership within reach for many.
"This joint
investment will deliver a range of bold initiatives that will supercharge
housing supply and affordability across our State."
Comments attributed to Planning, Housing and
Works Minister John Carey:
"Since 2021, the Cook Labor
Government has spent record amounts to unlock land and build housing, cut red
tape in the planning system and grow the construction workforce.
"This year's Budget bolsters
those efforts, delivering thousands more homes for first home buyers and
renters.
"It's an
investment that will be backed up by further planning reforms to further
accelerate the delivery of housing development."
Comments
attributed to Small Business Minister Anne Aly:
"This is
about delivering more homes, faster, so more Western Australians can get into a
place of their own.
"A strong
pipeline of work gives small businesses and the construction sector the
certainty they need to hire, invest, and grow."
