- 2023-24 State Budget includes $750 million for additional housing, homelessness and lands initiatives
- McGowan Government's record total investment in social housing and homelessness services increased to $2.6 billion
- $450 million Social Housing Investment Fund top-up to deliver 700 additional social homes as well as refurbishments to hundreds more
- $33 million to extend and expand the off-the-plan transfer duty rebate
- $47.6 million to expand WA's residential construction workforce and speed up delivery of new homes
- $49 million to partner with community housing sector to provide 100 social homes for rough sleepers in regional WA through a supportive landlord model
- Keystart changes to enable more Western Australians to achieve home ownership
The McGowan Government will strengthen its record investment in social housing and homelessness measures, as well as extend and expand its existing transfer duty rebate for off-the-plan purchases, as part of major funding commitments unveiled in the 2023-24 State Budget to boost housing supply and choice across Western Australia.
Funding for housing, homelessness and lands initiatives is increased by $750 million in this Budget, including initiatives which will lift the McGowan Government's total record funding allocated to social housing and homelessness services to $2.6 billion.
New commitments in the 2023-24 State Budget include:
- $450 million top-up for the Social Housing Investment Fund to build on the State's existing social housing stock, adding 700 new social homes and undertaking refurbishment on ageing existing dwellings;
- $49 million to partner with community housing providers for 100 supportive landlord homes for people who may be experiencing rough sleeping in regional WA;
- $47.6 million in initiatives to expand WA's residential construction workforce, which will accelerate construction of the current pipeline of homes and boost capacity to deliver new housing supply to keep pace with population growth;
- $48 million to facilitate medium-to-high density urban infill development in Bentley, with $11.3 million to be spent on remediation works;
- $61.6 million increase in funding for Government Regional Officer Housing (GROH), primarily to refurbish existing homes and add new supply, plus a further freeze on GROH rents to incentivise key public sector workers to work in regional areas;
- $55 million for upgrades to water infrastructure to unlock housing development;
- $12 million over four years to deliver more development-ready land across regional WA through the Regional Development Assistance Program;
- $5.8 million to extend homelessness services and for a dedicated Office of Homelessness; and
- $5.5 million for the pilot Housing Diversity Pipeline for ongoing site assessments and site de-constraining works.
In a boost to the residential home and construction industry, the State Government will spend $33 million to extend the existing off-the-plan transfer duty rebate to 30 June 2025, convert the rebate to a legislated duty concession and increase the thresholds to:
- a 100 per cent duty concession for properties valued up to $650,000 (formerly $500,000); and
- phasing down to a 50 per cent duty concession for properties valued over $750,000 (formerly $600,000).
This cut in transfer duty is a clear incentive to build new apartments, which boosts housing at the affordable end of the market and adds density and vibrancy to urban areas. It will also provide more opportunities for Western Australians to downsize or buy their first home.
Amendments will also be made to Keystart's pilot Urban Connect program, with eligibility now to include one-bedroom apartments. A new Keystart Loan Program will also be introduced to enable customers to secure pre-sale off-the plan properties.
The new workforce measures to support the State's in-demand construction industry are targeted to accelerate construction of homes and build the sector's capacity, including $26.9 million to increase the Base Employer Grant for all third and fourth-year apprentices by 20 per cent to encourage local businesses to take on local workers, and $11 million for visa subsidies of up to $10,000 to attract up to 1,100 skilled migrants to the State's building and construction sector.
For more information, visit https://www.ourstatebudget.wa.gov.au
As stated by Housing Minister John Carey:
"The McGowan Government continues to deliver record investments to boost housing supply- particularly for those who need it most.
"This latest funding boost will improve the quality and accessibility of housing for vulnerable Western Australians and increase our commitment to deliver 4,000 social housing properties.
"As Housing and Lands Minister, I am working to ensure the Government is using every possible lever to bolster the supply of housing and lands, while delivering and supporting innovative homelessness reforms.
"Since making our record investment in social housing and homelessness measures, we've added more than 1,200 social homes, with more than 1,000 under contract or construction.
"Our investments in social housing and WA's critical residential construction workforce will continue to deliver a pipeline of work - and speed up delivery of new dwellings - across the State, supporting Western Australian jobs and local businesses.
"We're also delivering a range of tax reforms and incentives to boost housing and land supply, encourage urban infill and improve housing affordability."
