The McGowan Labor Government has today unveiled a record $875 million investment to deliver more social housing properties throughout Western Australia.
This includes the establishment of a $750 million Social Housing Investment Fund, with $228 million set aside for short-term projects to increase social housing and $522 million to deliver new social homes from 2022-23 and ensure a significant pipeline of work for the construction industry.
The $875 million investment included in the upcoming State Budget represents the single largest one-off funding injection for social housing in the State's history, and takes the total social housing investment over the next four years to more than $2.1 billion to deliver around 3,300 social houses.
The additional social housing investment over the next four years includes:
- $168.8 million for the conversion of around 500 affordable housing properties;
- $40 million for a program of spot purchasing in both metropolitan and regional areas for social housing;
- $6 million for the retention and refurbishment of approximately 120 existing properties;
- $12.8 million to carry out building assessments on the more than 10,000 ageing public housing and Government Regional Officer Housing assets;
- $5.5 million to assist with planning and business case development for future social housing development on State Government owned land;
- $522 million to deliver new social homes from 2022-23; and
- development of two common ground facilities which is underway.
Existing funding from a number of programs will be reprioritised and brought forward to deliver a program of modular, prefabricated, social housing builds across the State.
This will include $80 million for the delivery of an additional 150 social housing properties in regional Western Australia through a program of modular builds.
Reprioritising existing investment towards modular, prefabricated homes will help speed up the delivery of social housing as these buildings will reduce the demand on the building and construction industry.
As stated by Premier Mark McGowan:
"My Government is using our strong Budget surplus to deliver record funding to expand and modernise social housing in Western Australia to support vulnerable Western Australians.
"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.
"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."
As stated by Housing Minister John Carey:
"This investment is a practical and pragmatic approach to delivering more social housing in our State.
"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.
"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.
"As the single largest one-off investment in new social housing stock by a WA State Government, the fund will support the delivery of an estimated 3,300 new social housing dwellings over the next four years, which exceeds the number of social housing properties delivered in the preceding nine years."
